FP&A Trends Digest: Issue #80
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Issue #80 - 21 January 2023
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Dear colleagues,
All of us have our own views when it comes to the big debate in the world of FP&A today: is FP&A Business Partnering the same as Finance Business Partnering? The answers tend to come in with an 80/20 ratio – with 80% of practitioners around the globe believing they are different. I would argue that FP&A Business Partnering extends further, goes deeper and can have a much more meaningful impact.
With all of the transformational changes taking place in the business world, FP&A Business Partner is definitely one of the main change agents.
This digest explores in detail the true meaning of FP&A Business Partnering, with all its ingredients and challenges. In it, you can find our recent white paper that outlines the ways in which roles and skill structures in FP&A have evolved, as well as plenty of practical tips for becoming an effective FP&A Business Partner, and a video on Data-Driven FP&A Business Partnering.
Experience tells us that the best partners are the ones who support unconditionally, bridge gaps, understand and respond to our needs, and complement our knowledge and experience with their own. But the best partners are also the ones that challenge us, help us learn, and ultimately affect the direction we take.
Being an effective FP&A Business Partner is challenging because it challenges – but partnering is powerful, and I hope this issue inspires and equips you as an agent of change.
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The world will be constantly changing, but one thing is certain - the demand for a strong FP&A Business Partner has never been so high. How does modern day FP&A Business Partnering differ from traditional Finance Business Partnering? How have roles and skill structures in FP&A evolved to equip professionals to be real agents of change? Find out in our recent FP&A Trends white paper.
Based on our research and conversations with leading organisations around the globe, we have developed a maturity model that describes the different states of FP&A Business Partnering. Any company can leverage this model to benchmark where they are at, determine where they want to be, and what it may take to get them there.
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By Antony Parker
The term “Business Partner” is used frequently today, often without a clear or consistent understanding of its true meaning. So, what are the real objectives of Business Partnering, what does great Business Partnering look like, and what attributes does an effective partner have? Find out how to be a great Business Partner in this insightful and practical article.
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By Tijana Balotic Truong
Effective Business Partnering means constructing a relationship between the FP&A department and other departments that brings about benefits for everyone. And that relationship has to be built on an effective, shared company culture with buy-in across the board. But what are the pitfalls that stop that relationship thriving, and how can they be avoided? Find out in this article.
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By Gemma Davie
Our Business Partners have never needed us more than they need us today. However, according to the latest FP&A Trends Survey, only 12.5% of organisations spend as much as 40% of their time on value-adding activities. While Business Partnering clearly needs to be a priority, many organisations have difficulty carving out the time it needs. In her article, Gemma Davie, Associate Director at Compare The Market shares five practical tips to help you solve this problem, dial up the Value Creation activities in your team and become a more effective Business Partner.
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By Valerie Martin
In an increasingly competitive market, businesses are becoming more and more data-driven. With so much data available, FP&A Business Partners play a fundamental role in determining which data is the most useful, helping their company to think more intelligently. In this video presentation, Autodesk’s Finance Director Valerie Martin offers insights on how to ascertain what you need from your data, overcome challenges and be a successful data-driven Business Partner.
For more resources on FP&A Business Partnering, please click here.
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FP&A Trends Group is conducting the 7th Survey to establish and predict the latest developments and trends in Financial Planning & Analysis.
І invite you to take part in this crucial global survey. Your responses will help us create benchmarks and strategies that will be useful to FP&A professionals around the world. Answering the questions takes just 10-12 minutes, and in return, you will be among the first to receive our comprehensive survey report in July 2023.
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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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One of the key tasks for FP&A in 2023 has to be the harmonisation of the different planning processes within the organisation. The way to do this is via the adoption of an Integrated FP&A approach. Register for this webinar where we will reveal the winning formula for Integrated FP&A. You will have a chance to learn the six key success factors of how to harmonise your planning processes and how to put it into practice via case studies.
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