The Accuracy in your Forecast Matters More than the Forecast Itself

One of the roles of the FP&A function is predicting future business performance and help business leaders prepare for an unplanned future through forecasting and decision support. Although anticipating the future is challenging given today’s fast-changing environment, looking ahead is increasingly essential. The world is far, far more complex than we think. Unknown unknowns and […]

Talking about Digital Transformation

These days I’m hearing quite a number of business leaders talk about digitization, going digital or digital transformation. Regardless of which term you’re most comfortable with, it’s a good sign that leaders are seriously considering taking advantage of the power of modern technologies to transform their businesses. An investment in IT is no longer considered […]

Plan Continuation Bias and Decision Making

Businesses of all shapes and sizes often operate in a system with the different parts of the system interacting with one another to produce effects or outcomes that are anticipated or not. Some systems are linear with easily predictable outcomes. Other systems are more complex, more like a spider web, with many of their parts […]

Reimagining Risk Management in a Constantly Changing Environment

Deloitte has published an interesting and useful piece, Reimagine Risk: Thrive in your Evolving Ecosystem based on its 2019 survey of risk management. The paper makes some good points, including: In environments of change, professionals in a range of endeavours often fail to understand risks and their roles in managing them. A lack of awareness […]

Building Trust in Your Data, Insights and Decisions

Over the years, the adoption of advanced analytics and data visualization tools by enterprises in order to generate key insights that can support quality business performance decisions has considerably evolved. Nonetheless, not all investments in this arena are producing the desired outcomes. Although significant sums of money, resources and time have been channeled towards data […]

Converting Data Into Insights: The Right Technology Alone is No Guarantee of Success

The fact that technology is playing an increasingly significant role in executing many traditional finance tasks while at the same time generating greater insights that drive business performance is irrefutable. However, even though many organizations are significantly investing in advanced data and analytics technologies, majority of these investments are reportedly yielding disappointing returns. This is […]

Achieving True Cost Transformation

Suppose your business is facing significant competition from traditional and non-traditional competitors. Demand for your company’s products and services is tepid and customers are deserting you. Revenues are in sharp decline and the impact is beginning to show in shrinking margins. To increase revenues and alleviate shrinking margins you try to cross-sell and up-sell your […]

The Basics of Strategic Planning and Strategy Execution

Effective strategic planning and strategy execution are key to driving business success and growth. Unfortunately, leaders tend to focus more on the planning process and less on doing or executing. Strategic planning is the process of articulating the vision of what the organization wants to be, defining its strategy, setting strategic initiatives, making decisions on […]

Talking About the Risks of AI and Cognitive Technologies

According to the recently published PwC’s 22nd Annual Global CEO Survey, 85% of the surveyed CEOs overwhelmingly agree artificial intelligence (AI) will have a significant impact on their business within the next five years. For this reason, they have plans to pursue AI investments. This is despite the fact that the information gap between the […]

More Data Doesn’t Always Lead to Better Decisions

Thanks to advancements in technology, our digital lives are producing expansive amounts of data on a daily basis. In addition to this enormous amount of data that is produced each day, the diversity of data types and data sources, and the speed with which data is generated, analyzed and reprocessed has increasingly become unwieldy. With […]

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