FP&A Systems

Beware of FP&A System Demonstrations

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

Too often software evaluations are restricted to features and functions. It’s like evaluating a car by looking at individual components such as the wheels, the engine, the seats …. but without seeing if they all work together to meet your needs for your circumstances. A small electric car may be fine for some people but no good if you need to travel to the arctic or move heavy equipment. So next time you are tempted to view a demonstration, make sure you’re prepared with questions that will help you to assess the true business value of the solution in your ‘real world’. 

Is your Planning System a ‘Measurement system’ or a ‘Management system’?

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

In short, performance management systems encompass performance measurement systems, but not the other way around. To achieve effective performance management, systems must possess sophisticated process control capabilities that constantly track organizational activities and invoke user involvement as required.

So do you have one? Is your planning system a ‘measurement system’ or a ‘management system’?

Analytic Model Vs Spreadsheets

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

Spreadsheets are without doubt the ‘killer’ application that turned the PC into an indispensable business tool. Before then, computing was the preserve of geeks and specialists who spoke in a language few accountants could understand as they served expensive, inaccessible machines locked away in their own air conditioned environment.

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 20 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.

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