In Part 1 of this article, we explained the data challenges faced by FP&A as well as how the expectations of the FP&A user community has evolved through the generations. In this article, we will explain how the boundaries have changed and the implementation framework.
Any activity or business process executed in the various departments across the enterprise has an impact on the financials. At a macro level, the interaction of the Finance organization with the rest of the enterprise can be bucketed into three categories:
The digital revolution is not only shaking company business models but also has a direct impact on the finance function. The world is now evolving at a faster pace, and now more than ever before, there is a need to question regularly the long-term strategy. Also, Business Partners need daily support to work on new ideas and to create robust business cases.
We live in a Digital World today, with nearly everything interconnected with each other. Yet many individuals, companies and organisations seek their own ways and explore how to leverage data in the area of Financial Planning and Analysis.
Disclaimer: Financial Modelling has no strict “right” or “wrong” method of application. It does, however, have forms of best practice and this what this article attempts to highlight
Following on from the success of the 7th London FP&A Circle, I had the pleasure of attending the 21st London FP&A Board which shares the latest professional trends and developments with the UK FP&A community, open exclusively by invitation to senior finance practitioners.