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The COVID-19 pandemic has underscored just how fast business conditions can change—and then keep changing—effectively rendering annual business plans irrelevant. Companies have responded to the economic uncertainty brought on by the pandemic by rejiggering growth, revenue, and investment plans, sometimes multiple times. No doubt, the crisis of the pandemic will eventually… Read More
Many finance leaders feel more comfortable with an empty spreadsheet than a blank notebook. But in today’s data-deluged, disruptive world, every CFO needs to be a storyteller who injects meaning into numbers. This holds especially true at corporate board meetings, when the directors—who probably aren’t involved in the company’s day-to-day… Read More
As we’re halfway through the 2020 football season, what better time to compare the gridiron game to financial reporting? Consider: The finance department acts as the quarterback of the reporting process, orchestrating the plays and controlling the action. But it takes every department working together—from finance and sales to operations… Read More
Make no mistake: Robust analytic capabilities increase insight into business performance, allowing FP&A teams to make better decisions. And better decision making, now more critical than ever, leads to finance practitioners becoming more strategic partners to the business. Here are five tips that FP&A leaders can take to create a… Read More
For banks, one of the biggest lessons of the past year can be summed up in three words: Brace for impact. Disruption is no longer a dark cloud on the horizon. Due to the COVID-19 pandemic, disruption is present and fully accounted for, and banks have had no choice but… Read More
When the pandemic struck global economies early this year, CFOs found themselves rapidly reshuffling their business priorities. Not surprisingly, revenue projection, cost containment, workforce planning, and cash and liquidity management all suddenly emerged as primary concerns for more than half of 225 finance leaders surveyed between March and May 2020. To keep… Read More
xP&A stands for extended planning and analysis—taking the best of modern finance planning and extending it across the enterprise. But it’s not new. We’ve been calling it company-wide planning for years. Finance leaders whose organizations have been made more agile and strategic with modern planning and analysis have known for years… Read More
The pandemic has tested the agility and staying power of virtually every organization. But while some restaurants and food service companies found only challenges, others discovered opportunities. And they leveraged modern planning to make the most of them. One of these is German-based HelloFresh, which delivers prepackaged meal kits directly to… Read More
Financial planning is never a simple process. But in an unpredictable business landscape like today’s, finance teams often find themselves struggling to predict an uncertain future. From sales revenues to resource requirements, FP&A teams need sound and valid business information to create accurate and actionable financial projections. But the factors… Read More
When it comes to FP&A forecasting, most companies base their long-range forecasts on static planning processes, rather than more relevant, dynamic plans that reflect the complexities of the business. Relying on a forecast that doesn’t enable continuous monitoring of company performance, instead of implementing a modern, rolling forecast approach, is like using… Read More
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