FP&A Trends Digest: Issue #9
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Issue #9 - 17 January 2020
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Dear colleagues,
Happy New Year to you! I hope you had a wonderful time with your family and friends and are looking forward to the beginning of the new decade.
I am excited to share with you the first FP&A Trends Digest in 2020. As the saying goes, “new year, new me”, so we would like to offer you the chance to have a look at your FP&A function and the ways in which you might improve your processes. In this issue, we will delve into finance transformation, the skill set needed to be a successful FP&A professional and a case study on performance management.
More insights will be shared in the coming months – stay in touch!
Best regards,
Larysa Melnychuk
CEO and Founder
FP&A Trends Group
International FP&A Board
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By Belal El-Shaf'ei
It is a well-known fact that finance teams spend a lot of time on processes that can be automated. For a successful organisation, it is not enough just to be aware of this situation – action needs to be taken. One of the ways to address the issue is through financial transformation. In this article, Belal defines what this is and breaks it down into several steps.
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By Geetanjali Tandon
A need for automation is only one of the consequences of the current fast-paced business environment. What else is required to be a good FP&A practitioner? He or she should master several skills. The ability to learn, unlearn and relearn. In this article you will find out more about why this is important.
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By Emmanuel Jibodu
As Phil Jackson is famously quoted, "The strength of the team is each individual member." This article focuses on how one can build an effective FP&A team, the skills that are needed from each member and which backgrounds might contribute to the team’s overall success.
By Carl Seidman
Despite the emphasis that is placed on the hard and soft skills of an FP&A professional, it is still not easy to single out the key skills that play the most critical role. In this article, Carl attempts to define the skills of a successful FP&A professional and then explain two concepts. One, how someone new to FP&A can enter the field and two, how an existing FP&A professional can succeed in their job.
It is time to share another compelling case study on beyond budgeting. In this video, Bjarte Bogsnes, the Senior Advisor on Performance at Equinor (formerly Statoil) and the Chairman of Beyond Budgeting Roundtable, shares how Statoil managed to completely redefine their performance management.
For more Insights from FP&A Trends, please click here.
If you want to keep on top of the latest trends in modern FP&A and learn from recognised experts in the field, you are welcome to join the FP&A Club LinkedIn group which has more than 9,200 members. It is a global platform for finance practitioners to come together and shape the future of FP&A. We would be glad to see you as one of the active participants at our weekly discussions. You can also find us on YouTube and Twitter.
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