On 16th May 2017, 35 senior finance practitioners joined the fourth meeting of the Geneva FP&A Board. The representatives from such leading companies as Duracell, DXC, General Mills, Honeywell, Medtronic, Newell Brands, Nissan, PepsiCo, Procter and Gamble, The Economist, Tesco PLC, etc., gathered to discuss the latest trends in FP&A Business Partnering
By Steve Morlidge, Business Forecasting thought leader, author of "Future Ready: How to Master Business Forecasting" and "The Little Book of Beyond Budgeting"
It’s difficult to think of a business process that is more unpopular than budgeting.
In nearly two decades of writing and talking on the subject I have yet to come across anyone who is prepared to stand up and say it is a good thing.
by Michael Coveney, co-author of "Budgeting, Planning, and Forecasting in Uncertain Times"
The role of planning is to help manage what can be controlled (i.e. the organisation ’s business processes, the resources it applies to those processes, and the volume and quality of work done in those processes) to produce outcomes that will achieve organisational objectives, within an uncontrollable and unknowable external environment. From this, it can be seen that an organisation’s business processes are central to Business Analytics.
To plan and monitor performance effectively requires a network of analytic models. Most organisations are too large and complex to have a single model, and so the models I will describe may be implemented as separate but linked physical entities.
An undisputed fact: data is the key to unlocking the potential of your business. It contains the insights to drive growth, generate efficiency and put you ahead of the competition. It is increasingly evident that using data to influence decision making in every aspect of your company will result in greater success.
By Richard Reinderhoff, Freelance Consultant Strategy & Operations
Financial Planning & Analysis (FP&A) is gaining more and more attention from business leaders. Its focus is the future of the business. It uses past and actual (big) data to effectively model or support the decision-making, and can timely impact the business focus. The FP&A professionals who work as Finance Business Partners understand basic accounting and reporting, yet their strength is in being from different ‘walks of life’.
Below is a review of a short presentation I gave at the latest FP&A Board meeting in Amsterdam. It includes three short real life case studies - practical illustrations of the Rolling Forecast use.