FP&A, a process that was once a back-office function, has been transformed into a vital strategic advisor and the impact of FP&A is being keenly felt by those companies that have successfully implemented it.
For the uninitiated, financial planning and analysis (FP&A) teams perform budgeting, forecasting and analysis within businesses, in order to support decisions made by CFOs, CEOs and the Board. Without a prudent FP&A strategy in place, many businesses will fail to manage their cash flow in an effective and efficient manner, potentially missing economic and business trends that could prove crucial when making key decisions on future business planning.
Whether it's income, expenses, taxes or financial statements, FP&A professionals are there to support and guide CFOs and company financial planning, while the number of FP&A applications and solutions available is currently growing at an exponential rate.
Innovation Enterprise and CFO have joined forces to present our Guide to FP&A Trends in 2019 featuring insights, case studies and reflections from a wide variety of notable industry figures, including speakers from our upcoming summits.
Speaking with members of finance teams from Clarks, Intertek, Betteridge and many more, Guide to FP&A Trends in 2019 presents an insider view on trends and challenges that FP&A presents, as well as two case studies on its successful implementation.
To find out more about FP&A best practices and the latest trends, download our free ebook: CFO Guide to FP&A Trends in 2019
FP&A in action: A Microsoft presentation
Amit Tainwala, finance director, Central FP&A at Microsoft, discusses the how the tech giant has transformed its finance function during his presentation, Digital Transformation in Finance, recorded during Innovation Enterprise's FP&A for High-Tech Summit in San Francisco in May 2018.
How FP&A can support rapid decision-making
Ahead of the FP&A Innovation Summit in Boston, Olga Corbett, director of financial planning and analysis at Intertek, and Chris Caswell, former CFO & COO at Clarks, answer a key question on FP&A strategy.
Completing forecast timescales
Business forecasters Prophix found that 44% of companies take longer than five business days to complete a forecast. The modern driver-based forecasting models that are implemented through flexible systems are essential ingredients for quick re-forecasting processes.
Process simplification is the key and it must be different from the traditional process of detailed planning and forecasting to the general ledger level. Unfortunately, in many companies, the forecasting process continues to be too detailed, static, judgmental and biased.
To see more statistics from the FP&A industry, download our free ebook: CFO Guide to FP&A Trends in 2019
FP&A: An insider view
Intertek's Olga Corbett on the key challenges at the front of mind for fellow FP&A professionals:
"How a most relevant and effective FP&A model is recognized and implemented, is in my mind directly related to a CFO or finance leader's own experience, their ability and commitment to define the role of the FP&A group within their organization, as well as a willingness to go against a long-standing structure or territorial claims on certain aspects of the role."
To find out more about FP&A best practices and latest trends, download our free ebook: CFO Guide to FP&A Trends in 2019