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Our approach to Corporate Financial Planning and Analysis is based on the following philosophy:
Organizational objectives are achieved through sound business processes, supported by synchronized rewards systems, the right culture, and a finance function that is aligned to the business.
Business processes can be managed according to the work performed, the resources consumed and the outputs generated.
Business processes are conducted in an environment that is both unknowable and uncontrollable. The planning process considers the impact of things that can’t be managed, and helps organizations to cope with change.
Strategy looks at ways in which business processes can be improved. Improvements are typically resourced separately and monitored on their implementation and impact on business goals.
The planning, budgeting, forecasting and reporting process can not be run in isolation – they are all connected and only when viewed as a single continuous process can they help management improve business performance.
It’s generally not possible (or even desirable) to implement a new approach to planning and monitoring performance overnight. We believe the best way is to implement change as a series of small steps, but whose objective is to transform the way performance is planned and managed.
Transformation is best achieved through existing management structures. i.e. targets and change should come from senior executives with external consultants advising and direct the work so that it stays on track. This allows the end result to be ‘owned’ by the organization and for the approach to be continually developed once the consulting partner has gone
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