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The pandemic is causing boards of directors and C-suite executives to take a new look at net cash flow. Traditional budgeting is simply too slow and too rigid to keep up with the rapidly changing business environment caused by Covid-19. There is too much volatility, complexity, and uncertainty right now.
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5 tips for budgeting in the age of Covid

The pandemic is causing boards of directors and C-suite executives to take a new look at net cash flow. Traditional budgeting is simply too slow and too rigid to keep up with the rapidly changing business environment caused by Covid-19. There is too much volatility, complexity, and uncertainty right now.… Read More

Agile business practices are crucial for business survival. Learn the 5 pillars of finance digital transformation to accelerate your organization's journey.
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The 5 key pillars of finance digital transformation

Finance digital transformation is the implementation and use of digital technologies to improve the efficiency, insight, and agility of finance teams. New research sheds light on the key pillars of finance digital transformation, including cloud planning platforms, automation, data optimization, predictive analysis, and modern planning processes. Why is finance digital… Read More

This practice, known as zero-based budgeting, may be useful for companies looking to align spending with business goals. And with the right tools coupled with an agile, active planning model, companies might want to consider this approach to material expense accounts.
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Zero-based budgeting for FP&A professionals

Many businesses are shifting into recovery mode after the economic sideswipe caused by COVID-19 earlier this year. While it’s too soon to divine the lasting implications of this pandemic, most organizational leaders anticipate there will be echoes well beyond 2020. For many businesses, COVID-19 has fundamentally changed expense structures. Travel… Read More

Many finance teams consider board reports the most challenging type of report that they put together. And, in many ways, it’s because board members want so much more than numbers, such as nonfinancial information and customized analysis. That's doubly true during a pandemic. Standard slide templates and data charts may satisfy most board members. But to establish the finance team as a strategic partner in driving the business forward during this challenging time—consider these presentation tips:
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How to improve your board reporting in 3 easy steps

Many finance teams consider board reports the most challenging type of report that they put together. And, in many ways, it’s because board members want so much more than numbers, such as nonfinancial information and customized analysis. That’s doubly true during a pandemic. Standard slide templates and data charts may… Read More

Indeed, many companies are now faced with scenario planning at a level they’ve never done before. We’ve seen companies in aggregate create 30 times more forecasts and scenarios than in a typical week and, in some individual cases surpassing 80 reforecasts in a month. That’s not surprising given how much is unknown about what will happen when states reopen for business, the coronavirus remains unchecked by a vaccine, and consumers and workplaces settle into perhaps new norms. Still, finance teams have to surface meaningful data so critical business decisions can be made.
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How to plan amid rapidly changing business conditions

The COVID-19 pandemic forced companies of all sizes to scrap their business plans for 2020 and attempt to come up with new ones even though so much is unknown and changing so fast. Indeed, many companies are now faced with scenario planning at a level they’ve never done before. We’ve seen companies… Read More

the old ways of collecting data and creating reports are essentially useless, because old-school plans aren’t detailed enough, are tough to translate to actionable goals, and lack a single point of view. That's where active planning comes in. Consider these four active planning best practices that help FP&A teams respond to change with speed and agility.
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4 best practices to respond to change with speed and agility

Way back when, financial professionals had one objective and one objective only: accurately track past performance and explain why the results turned out as they did. Today, however, businesses are operating in uncharted territory, and the old ways of collecting data and creating reports are essentially useless. That’s because rigid,… Read More