FP&A Trends Digest: Issue #85
|
Issue #85 - 01 April 2023
|
Dear colleagues,
As the American professor H.E. Luccock once famously said, “No one can whistle a symphony. It takes a whole orchestra to play it.”
As FP&A professionals, we know that playing solo can only get us so far. It’s only when we collaborate effectively with all functions, harmonising our planning and forecasting processes across the organisation, that we get the beautiful and powerful sound needed for the right decisions to be made.
This had never been more apparent to me than when I recently visited the US for a series of five meetings across the country. At each of these meetings, collaboration was a recurring theme, with FP&A Board members reporting that working together with other functions holistically and harmoniously is both a goal and a challenge within their organisations.
We know that getting everyone to play together in perfect harmony can indeed be a challenge. While technology is a huge enabler and help, effective collaboration requires much more: a careful alignment of processes, people, and enhancing the business partnering and storytelling practicies. That’s why we’ve provided helpful insights in this digest issue to help you bring a more collaborative approach to FP&A in your business.
I hope you enjoy this newsletter. Let’s collaborate and make beautiful music together!
|
|
Organisations that are not adequately resourced cannot grow revenues and compete in the market to achieve their full potential. That is why Finance and HR will always be inextricably linked. Integrated business planning brings data from both together in a single source of truth to drive decisive planning. Read this report to learn how strengthening the partnership and feedback loop between Finance and HR can save time and resources for your business.
|
|
By Renato Rossetti
Effective communication and collaboration between functions are vital to an organisation’s success. Although interconnected, each function will usually have its own objectives. Read on to discover some of the best practices organisations should remember to ensure effective cooperation between departments.
|
|
By Douglas Yeung
Much like the conductor of an orchestra, the finance team observes the different functions playing their parts and ensures that they perform as one to achieve the best results possible. Finance can use its core competencies to frame various strategic insights for the business to assess. In his blog, experienced FP&A professional outlines how Finance can frame a better strategy for your business.
|
|
By Ken Fick
For the majority of companies, one of the main points in the agenda is to transform their FP&A model, increasing collaboration between the finance team and other departments is the most common end goal. Why is that? Is it because when Finance is involved, better decisions are made, costs are controlled, and growth initiatives are enacted? In this article, the author lists three common traps and five tips to help you increase collaboration between Finance and other parts of your organisation.
|
|
By Joao Almeida
70% of change programs, regardless of their scope, fail to achieve their goals. So, what strategies work in maturing a capital planning agenda? How can FP&A professionals be prepared for typical pitfalls when planning a business’s journey to implementing improvements in capital planning? In this short video, the CFO of Hub Terminals at A.P. Moller-Maersk shares his recipe for success in improving capital investment practices and harnessing technology to improve forecasting accuracy by 50%.
For more resources on Collaborative FP&A, please click here.
|
|
As you’ve seen in this digest, identifying and gathering data on trends is essential for equipping FP&A professionals to face today’s challenges. The FP&A Trends survey plays a vital role in doing just that – and it can only happen with your help.
Take a few moments to share your thoughts and experiences, and complete this important international survey. Your contributions will help us to create a detailed picture of FP&A and its evolution across the world. Completing the survey takes just 10-12 minutes and entitles you to be among the first receiving our comprehensive report in July 2023.
|
FP&A Trends Digital Events
|
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.
|
|
FP&A function has become more strategic and influential over time, guiding organisational performance and supporting the decision-making process. However, there are still many challenges faced by FP&A in turbulent times that can reduce its effectiveness.
Register for this webinar to find out how to overcome and harness benefits from these upheavals, improving the effectiveness of your FP&A function.
Amid threats of recession, banking collapse, an increasingly tight labour market and rising rates, organizations have heightened their focus on efficiency and profitability. FP&A teams have been asked to do more with less, fueling a desperate search for productivity. This session will focus on how FP&A teams can take advantage of AI and machine learning technologies to drive faster cycle times and foster increased agility.
Join this webinar o hear some practical insights from senior practitioners and thought leaders on the subject.
|
Please refer to our Privacy Policy regarding the usage of your data by FP&A Trends. Contact us at privacy@fpa-trends.com if you have any questions or concerns.
All referenced trademarks are the property of their respective owners.
|
|
