FP&A Trends Digest: Issue #79
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Issue #79 - 07 January 2023
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Dear colleagues,
I hope this Festive Season brought you joy and an opportunity to spend time with the ones you love! May this year be full of peace, contentment, and prosperity!
Abraham Lincoln, one of the former US presidents, said that the best thing about the future is that it comes one day at a time. Anticipating the future presupposes changes, so the most reasonable way to react to them is by getting ready. That is why FP&A Trends Group keeps going forward to define the factors shaping our industry this year and beyond.
Hence, we are launching the 7th annual FP&A Trends Survey to determine the trends and developments impacting the FP&A profession. I would like to invite you to participate in this global initiative and outline the future of Financial Planning & Analysis. It should take you only 10-12 minutes to complete, and in return, you will be the first to receive the final report. More details you will find below.
Also, I am glad to share the results of our FP&A Trends Survey 2022. We have collected responses from 375 finance practitioners in different industries worldwide.
Based on the previous survey, we observe that Scenario Planning has become one of the most rapidly-evolving trends in FP&A. So, in this digest, we collected several insights and practical examples to be ready to plan for uncertainty.
As usual, I invite you to the first webinar I will facilitate this year. The highly experienced panel will discuss trends affecting FP&A in 2023. I hope you will be able to join our forward-thinking session on the 19th of January; see the link to the registration form at the bottom.
Let this newsletter help you get ready for the future!
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FP&A Trends Group is launching the 7th Survey to analyse up-to-date issues affecting the performance of FP&A departments and deep dives into the evolving role of Financial Planning & Analysis.
Your contribution will help us understand the most crucial challenges within modern FP&A and define what needs to be overcome. In return, we will share the final report with you in July 2023. Therefore, I cordially invite you to spend 10-12 minutes completing the FP&A Trends Survey 2023. Sharing this questionnaire with your network is highly appreciated.
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In our previous FP&A Trends Survey, we emphasised the need for FP&A to shift into the strategic advisor role to influence decision-making and discovered how FP&A departments can operate and thrive in the “brave new world” of business. We conducted this survey when organisations were looking to recover from the pandemic. This paper has gathered insights from 375 participants engaged in the finance function across a diverse set of industries around the globe.
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By Michael J. Huthwaite
Uncertainty does not have to be perceived as a threat. Organisations capable of executing a winning plan should view it as an opportunity. In this case, Scenario Planning can help us navigate the waters. Yet, despite all the technological advancements, we are still stuck in the past regarding the evolution of Scenario Planning. In this article, the Director of Product Management, Intelligent Reporting at Walmart, investigates where we are in the functional evolution of Scenario Planning and where we need to go to make this approach a mighty force for mitigating uncertainty.
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By Larysa Melnychuk
In the modern business environment, Scenario Planning is the approach that allows us to make decisions based on accurate data quickly. Clearly, this is not a new method, as Scenario Planning has been used widely for years in many strategic planning processes. However, now Scenario Planning is changing and becoming more critical to effective modern FP&A. In this article, I explore the evolution of Scenario Planning and how businesses can move from traditional forecasting to scenario-based planning with practical examples from leading companies such as GoCompare.com and Microsoft.
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By Marat Lomakov
Remaining agile in disruptive and inflationary circumstances is a must for success. That is why it is important to anticipate the possible impact of future events on a business in an environment where everything can alter in a week. In this short video, Finance Director, Europe Supply Chain at Ecolab, shares his insights on effective strategies such as the adoption of xP&A and Scenario Planning to help you learn how to address an enormous number of disruptions in a changing business world.
For more resources on Scenario Planning, 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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2022 has been the year of high uncertainty and "Black Swans", perhaps more than ever. FP&A teams have been going through massive challenges and transformations. That's why we must understand the top Financial Planning and Analysis trends to watch in 2023 and beyond. Register for this webinar to get the answer to this question from the global panel of senior practitioners and thought leaders.
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