FP&A Trends Digest: Issue #75
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Issue #75 - 05 November 2022
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Dear colleagues,
A famous German writer, Johann Wolfgang von Goethe, stated that the greatest thing in this world is not so much where we stand as in what direction we are moving.
I would never think this quotation would be applied to FP&A but defining the direction and navigating the waters in a modern uncertain business environment needs agility and adaptability.
Assessing where your company is and determining where you want to be is not complex. Our FP&A Board Maturity Model has constantly been evolving since 2016. It evaluates six dimensions: leadership, functional skills, business partner and collaboration, process, data & analytics, and technology; and it consists of five stages, so you will easily find what to do to achieve the leading state of maturity. Most importantly, you will be able to create a transformation roadmap specifically tailored to your organisation.
This digest issue comprises several case studies on FP&A transformation and practical insights on moving your maturity to the next level.
The journey towards reaching maturity is complex and will not happen overnight. That is why I am sharing with you our recent research paper with the best practices from senior practitioners on how organisations can transform from traditional to modern.
Besides, we offer you to evaluate how intelligent your FP&A is, a case study on benefits of paired leadership, and to take a look at the journey from data to real insights. You are welcome to explore the skillset required for xP&A Business Partnering from Western Power’s experience, Danone's journey to Scenario Planning, and how Oerlikon implemented Change Management.
Let this digest help you define the direction you are moving to in FP&A.
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FP&A maturity has become crucial in determining an organisation's financial health and resilience. However, many companies are still on their way to the leading stage of maturity. Here, you can complete the five-minute FP&A Maturity Assessment to find out where you're at on your Intelligent Planning transformation journey.
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FP&A has become an essential element of the DNA of the most successful organisations. According to the IMA’s survey of over 700 global companies, “those who realise the potential of FP&A consistently meet and beat their targets and their competition.” The key issue is that traditional planning practices no longer work because of the challenges organisations face. We conducted research as to how organisations can transform from traditional to modern.
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By Daniele Martins
A well-known proverb says that “two heads are better than one”. The idea behind it is that having multiple people with different strengths and options drives better decisions. If this is true, than can we apply it to the FP&A leadership practices? Daniele Martins believes so. In this article, she discusses the benefits of paired leadership through the case study of her company. She also shared the key success factors for this leadership model.
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By Robert J. Zwerling and Jesper H. Sorensen
What decisions a business can make based on the data you have provided? By advancing analytics, Finance can move from providing information on “what” and “where” to storytelling about “why”. In this article, authors explore how to look patterns to uncover real insights and understand the underlying driver.
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By Connagh Hopkins
Western Power supplies electricity in Australia, and they have undergone an FP&A transformation toward xP&A, which would be impossible without the most valuable asset in the team, people. Learn more from Western Power’s Head of Business Planning and Reporting about why you always need to invest in employees' skills.
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By Ivo de Brouwer
This FP&A journey took several years after Danone recognised, they were in a world of vulnerabilities and uncertainty. They moved from Traditional Budgeting to Scenario Planning through Rolling Forecasts. Learn more about how forecasts have changed after COVID and why combining financial and non-financial data is crucial from their Finance Director - Controlling Methodologies Worldwide.
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By Paola Bolderman
Change Management is an ongoing business process, which is why it also requires investments in the workforce. Oerlikon's case study investigates several barriers you will have to overcome on your journey. Senior VP Group FP&A at Oerlikon shares how you can obtain a strategic advantage by mastering Change Management.
For more resources on FP&A Case Studies, please click here.
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FP&A Trends Digital Events
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FP&A Trends digital events are vendor-agnostic and complimentary. If you are not able to join the live session, you can register to receive the recording later.
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Everyone in FP&A agrees that agile planning and forecasting are essential in an environment of great uncertainty. FP&A agility is the ability to reforecast on demand. But how can we implement it? Join us for this webinar, where we will look at agility through the lens of the continuous planning and forecasting process. The panel of senior practitioners and thought leaders will share with us their experiences and practical insights.
Chuy’s is a network of Tex-Mex restaurants across the 17 states in the USA with a 40-year history. Navigating the many challenges imposed on in-person retail and hospitality, Chuy’s did more than just survive the pandemic. During these turbulent times, when many faltered or folded, Chuy’s managed to, not only maintain but improve profitability and growth. Register for this webinar to find out the formula of success of analytical transformation from A to Z in Chuy’s journey from their VP of Finance & Investor Relations.
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