Collaborative Planning

FP&A Business Partnering

by Antony Parker, AECOM

Introduction

One important skill finance professionals are never taught during their formal education is the power of personal engagement with operations and using these relationships to deliver bottom line value. There is too much focus on models, processes, procedures and systems without regard to the fact that all these have to be developed, operated and interpreted by people.

I never cease to  be amazed by the number of job ads that contain the title “Business Partner” without the candidate or employer knowing what the term means or understanding the behaviors and competencies  associated with effective business partnering. Many organizations also fail to understand the powerful linkage between partnering and organization performance.  They simply see business partnering as an attempt to convince themselves that by  following latest trends the organization will achieve success.

Keeping Calm during Budget Season....... Top 5 Tips to Survive!

By Chris Ortega, MBA, Sr. Finance Manager at Emarsys, USA

As a former public accounting auditor, I have been through my fair share of busy seasons which usually ran from September to April. My busy season experience consisted of 60 - 80 hour work weeks, working on the weekends, learning at an accelerated rate, and then waking up after April 15 trying to realize what the hell happened the past couple of months. For me, this was a character building and learning opportunity that I am privileged and thankful that I got to experience in my career. However, like most, I realized this was not what I wanted to do long term.

FP&A’s Push to Transform from Cost to Collaborator

By Ken Fick, President and CEO at Pierce The Fog LLC

Defining exactly what Financial planning and analysis (FP&A) does has always been tough.  
Most people place FP&A in the Office of the CFO, and that makes sense, for many of us have certainly played the role of CFO a time or two, but as business partners, strategists and advisors, that is also not necessarily a perfect fit and as our roles continue to expand to become the central hub of corporate analytic and reporting this categorization may change.
According to the recent survey by the Argyle Forum, 40% of the companies that are looking to transform their FP&A model stated that 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? Possibly?  

As the founder of Pierce The Fog, my mission is to help those in the world of corporate finance find answers, make decisions and move businesses forward.

With a background in accounting, management consulting, financial reporting, corporate finance and investing, I write from the perspective of a battle tested corporate insider that utilizes the knowledge gained from years of experience working in the internal operations of various companies helping them turn their business ideas into reality in order to provide actionable insight to readers.

Look for my commentary to be insightful and clear, helping readers decode the complex world of finance and distil it into readable, actionable knowledge.

Three Stages of Rolling Forecast Maturity

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

Rolling Forecasts  are an essential tool for financial planning and analysis (FP&A), with a potential to radically transform corporates’ traditional budgeting process.
The London FP&A Board of senior practitioners’ most recent meeting focused on why Rolling Forecasts  are ideal for financial planning and analysis (FP&A) professionals. It also discussed best practice and the ‘Three Stages of Rolling Forecast Maturity’ model, summarised in this article.

The latest meeting was again jointly sponsored by Metapraxis, the consultancy, analytics for financial professionals and software provider and Michael Page, the global specialist recruitment firm.

Modern FP&A: Some Important Techniques, Methods and Concepts

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

The world of financial planning and analysis has observed changes of such magnitude that they cannot be described by our traditional statistical and analytical models. In this age of frequent Black Swan events, the traditional business approach to operating on an annual budget and forecast is no longer effective. In order to deliver a competitive advantage to a company, modern FP&A function needs to be flexible and dynamic, be based on sophisticated analytics, examine life-time values of the products and services and encourage business partnering. This significant change in the role of FP&A function requires big cultural shift and modern change management techniques....

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