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… Read More »The Accuracy in your Forecast Matters More than the Forecast Itself
The only thing right about a forecast is that it’s wrong. This unavoidable truth is particularly evident in business today. Businesses are grappling with high levels of volatility, uncertainty, complexity and ambiguity. Increasing regulation, competition, geopolitical tensions, ever changing consumer preferences and a shift in economic powers are making it difficult… Read More »How Effective is Your Budgeting and Forecasting
Last month, Prophix Software released its findings from the survey, Defining the Evolution of FP&A: Benchmarks, Challenges & Opportunities. The survey which was carried out between Q2 and Q3 of 2017 received feedback from over 300 FP&A leaders from all companies of all sizes across the globe. The survey was… Read More »FP&A Leaders are Failing to Deliver Higher Strategic Value
Technological advancements in Big Data and Analytics are having a significant impact on the business’s operating model and strategic performance. Many companies are already exploring how best they can adopt big data and analytics technologies to improve their businesses, reduce costs, streamline processes, improve marketing initiatives, and pursue future profits.… Read More »Data Analytics and the FP&A Function