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Yes, I said that, I am addicted to financial planning and analysis. I am excited when all the checks in my financialmodels are colored green, and I get thrilled out of digging into data and finding insights that lead to better business decisions. Hi everyone! My name is Anna, and I am an FP&A-holic.
FP&A is an evolving function that falls into the intersection of finance, operations and strategy aimed at driving better decision-making trough insightful analysis, forecasting and goal setting. In this blog post I wont focus on the activities that fall into FP&As scope by default, such as budgeting, forecasting and regular analysis.
When you choose more advanced software, you can ideally spend time analyzingdata and making plans based on the results rather than inputting the data, updating it, or correcting errors. With Planning Maestro, you can: Easily develop and manipulate driver-based financialmodels to get quick answers.
To perform these functions marketing, as a discipline, possesses a wide range of tools and techniques that can be used to analyzedata, verify hypotheses and communicate information. Imagine CFO or CEO seeing dozens of long tables filled with numbers every day, will they be happy to receive another one like this?
FP&A is a process used by organizations to develop and manage their financial plans and make informed decisions based on financial analysis. It involves forecasting, budgeting, analyzing, and reporting financial information to support strategic planning and operational decision-making. annual or multi-year).
Some software can even integrate with accounting systems to further streamline financial management. These type software provides various functions like forecasting, , financial reporting , managing cash flow, and analyzing differences in planned versus actual expenses. Once your model is ready, share a link with others.
Today, the average FP&A analyst , only spends 25% of their time analyzingdata , while the other 75% of their valuable time is spent on activities such as collecting and cleaning the data. Many of the forecasting reports need to be built individually from scratch instead of having prebuilt templates to choose from. #3
Instead, seek the most appropriate distribution pattern for each data source and apply heuristic judgment around forecasted numbers. Analyzingdata relevance, involving diverse perspectives, and challenging assumptions will help finance teams think outside the box and develop more robust strategies.
Today, the average FP&A analyst , only spends 25% of their time analyzingdata , while the other 75% of their valuable time is spent on activities such as collecting and cleaning the data. Many of the forecasting reports need to be built individually from scratch instead of having prebuilt templates to choose from. #3
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