FP&A Systems

FP&A Analytical Transformation. Stockholm FP&A Board on how to achieve the leading stage

By Larysa Melnychuk, Managing Director at FP&A Trends group

The London FP&A Board was created on the 19th September 2013 to guide the development and promotion of best practices in financial planning and analysis (FP&A). In May 2016 we took our first, yet successful step in our international expansion plans by launching Stockholm FP&A Board. By the end of 2017, individual board chapters will have been established in 15 cities in Europe, the Middle East, Asia, the USA and Australia in order to identify and support new global trends, skillsets, and thought leadership in FP&A. 
On 26 April 2017 the FP&A Board gathered in Stockholm for the third time to interactively discuss one of the biggest challenges of moving Financial Planning and Analysis to the next level and undergoing the transformation that is long overdue. FP&A Analytical Transformation became the main focus of 18 senior finance practitioners’ attention from such companies as Baxter, CGI, Danone, Electrolux, Hitachi Data Systems, MSD, Tele2, Philips, etc.

FP&A: Technology, Trends & Empowerment

A groundbreaking survey designed to benchmark current and emerging trends relative to how companies are leveraging technology and empowering FP&A professionals to unlock the strategic value of FP&A.

The role of the CFO is changing: It’s moving away from compliance and optimization, towards a more strategic; customer facing disruptive role. But how empowered are their FP&A teams to support them in this new world?
The goals of this survey are to identify and analyze current and emerging trends in modern Financial Planning and Analytics.

The Key Tech Requirements of an FP&A System

By Neil Ainger, GTnews

At one of the previous meetings, The London FP&A Board addressed the technological requirements needed for effective FP&A. The well-known Chatham House anonymised rules were deployed to encourage a full and frank debate.

The board members agreed that technology (like any tool) is only as good as people’s ability to use it and to apply it for business benefit and the discussions about the key requirements of an FP&A system got underway.

Evaluating CPM/FP&A System: Nine Key Areas for Consideration

by Michael Coveney, co-author of "Budgeting, Planning, and Forecasting in Uncertain Times"

 

There are many software products that claim to support CPM, but often they only support some aspects, for example, financial planning, and reporting. One of the issues is that the term CPM is synonymous with budgeting, forecasting and management reporting which by itself cannot provide a complete solution. 
Similarly, some vendors have multiple products covering different parts of CPM. For example, many have a scorecard application that they deem suitable for strategy management; a separate solution for collecting budgets and forecasts; and yet another for reporting and analysis. In the context of this framework, these multiple solutions can only work if they are truly integrated and can be made to operate as a single system. Without this level of the integration, system maintenance becomes an unbearable nightmare that cannot suitably adapt to the dynamics of the economic environment. 

This article gives an overview of 9 key areas that should be considered for the overall evaluation of CPM/ FP&A system.

Utilizing Technology in FP&A

By Karl Kern, Founder/President, Kern Analytics LLC

This article  addresses technology in FP&A.
In his book "THE INNOVATORS" Walter Isaacson describes two ways of utilizing technology.  One way is artificial intelligence, machines thinking on their own.  Another way is augmented intelligence, people using machines to help organize information.  Both ways are seen as improvements in our ability to make better decisions.  The ability to make better decisions is an important part of FP&A. 
I see artificial intelligence in FP&A.  

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