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When the world moved at a more predictable velocity, static planning was usually sufficient. But as the digital age emerged, companies found they needed nimble, data-driven financial modeling powered by cross-departmental collaboration and encompassing a panoramic view of the business—one where planning happened not just within finance but throughout the enterprise. This is active planning. It’s continuous, comprehensive, and collaborative.
Want to achieve business agility? Identify your critical KPIs.

Now more than ever, companies that are unable to adapt or pivot easily to adjust to changing market conditions don’t just risk falling behind. They risk their very future. But business agility isn’t something you can implement overnight. It takes a modern, multifaceted planning environment—one that isn’t weighed down by… Read More

3 words for a COVID-19 world: ‘Flexible budget variance’

With the COVID-19 pandemic shredding budget forecasts and presenting FP&A professionals with actuals that are nowhere close to original expectations, now is the perfect time to get acquainted with a certain term: “Flexible budget variance.” See this webinar on-demand: “Reforecasting in Uncertain Times” Sure, flexible budget variance might sound wonky.… Read More

Finance leaders have become strategic partners by reaching across their organizations to learn about business pain points, including clinical perspectives, human resource constraints, and supply chain challenges. Especially in times of crisis and uncertainty, it’s become increasingly important for the business side and the clinical side of healthcare to collaborate more closely and share insights. For example, looking to balance cost, quality, and outcomes, business leaders are using data to determine if high-cost equipment leads to better patient outcomes. With the CFO leading the way, arming the clinical teams with this type of information will help drive data-driven decisions about healthcare expenditures. This data sharing and increased collaboration will help teams work better together and plan for the unexpected.
Continuous planning and the role of the CFO

In the increasingly complex healthcare landscape, finance leaders must balance short term imperatives and longer term business objectives simultaneously. Having business insight, the ability to plan continuously, and empower decision makers at every level of the organization with data and insights is key to building resilient organizations. The role of… Read More

Agility is a buzzword for a reason. CFOs hoping to build confidence and credibility in their numbers can no longer rely on static budget tools to get the job done. In a world with increased regulatory volatility, complexity, uncertainty, supply chain mobility, labor market changes, and technological evolution, a CFO must be agile, or generate irrelevant reports and budgets that no one reads or believes in.
3 driver-based budgeting tips for CFOs when change is imminent

Consider these tasks and the problems related to them: budgeting amid great uncertainty about the future (like today during COVID-19); inputting departmental budgets on multiple Excel worksheets; manually reconciling variances and correcting errors; and dealing with broken formulas, misinformation, and inaccuracies. The life of a finance team during budget season… Read More

As organizations try to make sense of an economic landscape that continues to evolve, business planning becomes more important than ever. Kinnari Desai, senior director of corporate finance at Workday, discusses scenario modeling and the importance of agility in planning.
FP&A tips for scenario modeling during Covid-19

Kinnari Desai, Workday’s senior director of corporate finance, has deep insight into scenario modeling and how Workday approached this following the outbreak of COVID-19. We spoke with her to get more best practices and tips for financial planning and analysis (FP&A) teams. How did Workday have to adapt its business… Read More