Welcome to this issue of FP&A Innovation.
As we are now firmly in Q4, companies are looking at their finance departments to present their results accurately.
As we have seen with Tesco in the UK, the importance of accuracy when presenting results cannot be understated. It is not only about saving yourself from embarrassment, but from additional damage that the negative press can bring. If Tesco had given an accurate reading of their profit drop, it would have had a minor effect compared to what they are experiencing now.
It shows how important finance departments are to the world’s top companies. They need to make sure that they are not simply trusting complex software. It only takes a missed decimal point in one cell of a 500 page excel spreadsheet to spell disaster.
In this issue we are talking to finance executives from some of the most important and innovative companies in the world. This includes Siemens, Unilever and Upptalk, three companies who have shown that accuracy in forecasting whilst to innovating the finance function can bring sustained success.
In addition to this, we also discuss finance in the leisure industry, and the 7 most important traits of any successful CFO.