Hong Kong FP&A Board: Latest Trends in FP&A
The International FP&A Board opened a chapter in Hong Kong, China on the 30th of August. It was traditionally devoted to the subject of Latest Trends in FP&A.
- Financial Planning and Analysis (FP&A). Key definitions and developments.
- Interactive discussion on latest trends in analytics, planning, modeling and systems.
- A case study from the field: "Financial Dynamics at Cartier" presented by Laurent Claes, Head of Controlling at Cartier
- FP&A Analytics Maturity Model. Group work.
- Conclusions and recommendations.
China is moving incredibly fast into FP&A analytical transformation. There has been a huge interest in the first Hong Kong FP&A Board. It was attended by 38 finance professionals who represented large international and local organisations — Adidas, Cartier, Cigna, Barclays Bank, HSBC, Hyatt, PepsiCo and Schneider Electric, to name but a few.
At the meeting, Laurent Claes, global Head Of Controlling at Cartier and a member of the Geneva FP&A Board, shared with the Board the insights on his company's analytical journey.
During the group work session, the Board members named the biggest FP&A Trends. These trends are industry-agnostic and global:
- Artificial Intelligence. It is interesting to note that 20% of the Board members indicated that their organisations have already started Artificial Intelligence and Machine Learning projects in Finance. This is one of the highest rates globally.
- Prescriptive and Predictive Analytics
- Process and Data Connectivity
- Digital Transformation
- Big Data
- Driver-Based Planning
- Collaborative Planning and Strategic Business Partnering