Dear colleagues,

In the bustling arena of modern business, data isn't just an asset; it's the new "oil" of our digital age which revolutionises decision-making processes. However, as the amount of data available to organisations continues to grow, businesses still face the constant challenge: how to harness this wealth of information effectively within Financial Planning and Analysis.

This digest issue is devoted to the subject of Data-Driven FP&A. You will find a collection of stories and strategies from experienced finance practitioners and thought leaders on how to shape the future of data-driven decision-making in businesses large and small.

Let us all commit to embracing the power of Data-Driven FP&A, ensuring that it becomes an integral part of our organisational DNA.

Best regards,

Larysa Melnychuk, CEO and Founder
FP&A Trends Group & International FP&A Board

Did you know that out of the 700+ finance leaders we surveyed, 60% of organisations were performing above their financial targets from last year? That’s just one of the insights you’ll find in this 2023 Finance Leaders Survey.

Access the report to discover:

• The three leadership approaches that finance leaders identify with and what that means for you and your team
• Why 96% of finance leaders agree that agility is critical for accurate forecasting and scenario planning
• Why 65% of finance leaders plan to automate their processes to enable transformation
• What you should prioritise, modernise, and change in finance this year

To get your copy of the report, please click here.

By Garrett Dennie

There is certainly a lot to consider when answering the question: Are You Data-Driven? Once you have decided to be data-driven in your decision-making, you must honestly assess how ready your organisation is for properly using and considering data.

To master the art of making well-informed decisions, it's essential to measure where you stand on the data spectrum, aligning on the next steps becomes essential for strengthening and enhancing your data-driven decision-making capabilities.

In this article, CFO at Knix not only outlines five essential steps to enhance data-driven decision-making but also delves into the arsenal of tools that can empower organisations to embrace data-driven decision-making with confidence and precision.

By Dr. Stylianos Kampakis

Today, data is exploding in scale, fuelling the rapid advancement of data science. Early adopters of best practices gain an edge, while others risk falling behind. But are companies fully embracing this shift? Do they have the resources and guidance needed to foster a data-centric culture?

With a conducive corporate environment, effective communication, and comprehensive training, FP&A teams can revolutionise decision-making. So, what's the path to transformation?

In this article, the author delves into the shift from "data-informed" to "data-driven" to a full-fledged "data-centric" organisational culture. He demystifies these concepts, offering CEOs actionable insights to facilitate seamless implementation. The article also highlights key steps for organisations to become data-centric powerhouses while underscoring the importance of recognising and rewarding employees during this transformative journey.

By Dr. Irina Steenbeek

The concept of being "data-driven" suggests a clear starting point, but the reality is far more intricate. As FP&A experts, you navigate a sea of data, much of which originates from various corners of your organisation. Yet, what you see is merely the tip of the iceberg. The true complexity, and where data quality concerns arise, lurks beneath the surface, beyond your immediate control.

In this article, the author delves into the multifaceted world of FP&A and data, highlighting the critical role played by information management in achieving data-driven excellence. Discover how FP&A professionals can optimise their processes, streamline reporting, and enhance communication to pave the way for a more data-centric future.

By Nahuel Rozas Delpit

According to the McKinsey Global Institute, data-driven organisations are 19 times more likely to generate profit. Still, many decisions are taken on intuition, and many organisations lag behind the competition in terms of data management.

What is the reason behind it? Head of FP&A EMEA at Medtronic knows from his experience that the biggest block is resistance to change.

Watch this video to learn three essential steps for overcoming the resistance to change and the top lessons learned for a successful transition to an entirely data-driven organisational culture.

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.

11 October 2023

The persistent trend of FP&A professionals spending only a third of their time on value-adding activities clearly indicates that things need to change.

That's where the FP&A Trends Maturity Model comes in. Developed and refined over the past 8 years by members of the International FP&A Board, this powerful tool allows companies of all sizes and industries to assess their FP&A maturity, identify gaps, and embrace Intelligent Transformation.

Register for this webinar, where senior finance practitioners from Arthur J.Gallagher & Co., EBSCO Industries and Board International will share their valuable insights on navigating the realm of Intelligent Transformation with the FP&A Trends Maturity Model.

18 October 2023

For five years in a row, the FP&A Trends Survey has shown that only one-third of FP&A's time is spent on value-adding activities, such as generating insights and supporting decision-making. So, what is the formula for Value Adding FP&A? Why is it important, and how can we get there?

Register for this webinar to get the answers to these questions. Senior finance practitioners from Ecolab, Alexion Pharmaceuticals and OneStream will share their practical insights.

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