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Did you know that 35% of organizations identify data quality and timeliness as significant barriers to effective financialplanning and analysis (FP&A)? Bad data, inaccessible information, and outdated processes make FP&A more difficult.
The growing variety and complexity of tasks within the finance function has resulted in the creation of a discipline that is supposed to become a bridge between the finance and business to support decision-making process by leveraging data and technology. This relates to FP&A which stands for financialplanning and analysis.
Did you know that 96% of finance teams still rely on spreadsheets for planning and 93% rely on them for reporting? I dont about you, but its pretty surprising to see spreadsheets dominating in AFPs 2025 FP&A Benchmarking Survey Report. 60% of FP&A teams face moderate to significant challenges with reliable and accessible data.
An Interview with Jamie Cousin, FP&A Manager at ServiceMaster. The FP&A team at ServiceMaster is searching for answers deep in the individual experiences and purchase histories of over 2 million customers with assistance from the new Artificial Intelligence capabilities embedded in Jedox software.
Between a volatile stock market, high interest rates, supply chain issues, inflation, and a possible recession, having a solid financialplanning process in place is an important piece of sustaining your business through challenging times. Today’s business leaders are facing unprecedented uncertainty. Did manufacturing costs increase?
Why Accurate and Granular or Detailed Financial Reporting is Imperative During Times of Volatility. Often, CFOs and executive teams put together a plan that represents a snapshot of what they believe will happen, based on the best data they have available at the time. Enter Modern Financial Reporting.
I had a chance to connect with Nilly Essaides , the Director and Practice Lead, FinancialPlanning & Analysis (FP&A) at the Association for Financial Professionals. Here’s what she had to say about what’s new and what’s coming in FP&A.
Your business can use historical and recent business performance with the recurrent business cycle and seasonal trends to predict your organization’s financial performance in various scenarios. There is some risk to using past performance to inform your long-term plans, and this can be compounded during times of economic uncertainty.
Unlike a typical financial downturn, the impact of COVID-19 pandemic has been far more difficult to predict. The virus continues to ravage the global population, effect changes in consumer behavior, unearth workforce planning challenges, precipitate demand drops, and create supply chain shocks across the business world.
The leading provider of modern cloud-based FP&A solutions for mid-sized organizations, Centage Corporation prides itself on empowering today’s financial leaders to better guide their organizations to success. As a result, users can reduce manual tasks for budgeting and planning without compromising the integrity of the end result.
FP&A (FinancialPlanning and Analysis) software is typically designed to meet the specific needs of finance professionals, CFOs, financial analysts, and other stakeholders involved in financialplanning and analysis.
A modern FP&A solution with pre-programmed business logic and accounting rules prevents users from making such mistakes. Confidence – Am I confident in the numbers coming out of the model? How can we plan for an uncertain economy? How valuable is my budget for managing the business next year?
Too often, the things that get broken are Excel formulas that touch many aspects of your business’ budget and financialplanning. Centage’s Planning Maestro empowers finance professionals to build driver-based budgets effortlessly, eliminating the need for programming and formulas. Formula-free budgeting? No programming.
Financialplanning and analysis (FP&A) solutions provide a complete platform for organizational planning, which is important for all businesses. Understanding their financial status and performance is key for business growth. Two of these companies, Planful and Vena are popular for many reasons.
This is where a great financial analyst can help you. Start with the end in mind: you want someone who naturally thinks about the business, and the future of the business—not just the financials. The most talented FP&A pros are masters. How have you increased cross-company collaboration to enhance FP&A processes?
This is where a great financial analyst can help you. Start with the end in mind: you want someone who naturally thinks about the business, and the future of the business—not just the financials. The most talented FP&A pros are masters. How have you increased cross-company collaboration to enhance FP&A processes?
Planful and Datarails are two of the leading FP&A solutions in 2023. Planful is an FP&A solution that was built for large companies and enterprises. Planful has a great AI feature called Planful Predict and it is a big selling point in 2023.
What is a financial tech stack? As the number and quality of software tools increases, companies are constantly looking to find better ways to cut down on manual work and increase efficiency. Finance is responsible for a large number of critical operations in a business. Number of integrations. Low implementation times.
Though some businesses rely on Excel for budgeting and financial management needs, the software has some notable disadvantages that may make it a less-than-optimal solution for your business. To maintain multiple spreadsheets, you will be required to perform manual data entry. Otherwise, you risk sharing incorrect financialdata.
A new calendar year can be a great time to take a renewed, fresh look at your business planning and performance management. In a perfect world, we would like an EPM system that manages organization-wide planning, reporting and analysis. Collection of organization-wide financial and non-financialdata.
A recent Argyle virtual event sponsored by Planful discussed the role of CFOs in today’s business world, and the increased focus on financialplanning and analysis (FP&A). Argyle Virtual Event: Spotlight on FP&A. Looking Toward the Future of FP&A. Restructuring FP&A Models.
Only 30% of F&A professionals and business leaders in Singapore are confident that the financialdata used for financialanalysis and forecasting is accurate, said BlackLine which recently released results of a survey. . Survey highlights.
Your business can use historical and recent business performance with the recurrent business cycle and seasonal trends to predict your organization’s financial performance in various scenarios. There is some risk to using past performance to inform your long-term plans, and this can be compounded during times of economic uncertainty.
Some of the most popular use cases include sales reporting, financialanalysis, web and social media traffic analytics, inventory management, and time-tracking, but really…the list goes on and on. Power BI creates powerful reports with your existing data or becomes an integral part of broader Power Platform solutions.
Some of the most popular use cases include sales reporting, financialanalysis, web and social media traffic analytics, inventory management, and time-tracking, but really…the list goes on and on. Power BI creates powerful reports with your existing data or becomes an integral part of broader Power Platform solutions.
Financialplanning is a crucial part of sustaining and growing your business. And financial management doesn’t stop once the annual budget is approved. Financial statements allow the business to periodically reflect on how the business is doing in relation to its plan. This is the budget vs actual statement.
Understanding your company's current financial health and assessing the strength of your cash position is crucial. A cash flow statement is an important tool that reveals how your business decisions affect cash and cash equivalents – and divides the analysis down into operating, investing, and financing activities.
This crucial aspect of financial management can significantly impact a company’s competitiveness, and its ability to stay agile in a changing business landscape. It involves the meticulous planning and budgeting of funds across various facets of the organization, such as departments, projects, or physical locations.
Surprisingly, Excel was the number one solution, despite being the nemesis of IT professionals. In contrast, larger companies, those with 150 to 500 employees, are shifting towards best-of-breed solutions in areas such as FP&A, payments, and payroll. This question was tricky, and we were eager to see the results.
Every modern enterprise, regardless of size, requires finance software to manage various aspects of its financial health. This includes tracking past financial activities, ensuring compliance and reporting, as well as forecasting future financial scenarios for better budgeting.
Business intelligence, data security, and and has proved particularly effective for finance departments, given the recent powerful innovations in finance technologies. Moreover, how do you ensure data quality, security, and privacy as cybersecurity breaches stubbornly persist? As a result, the priority is more existential.
Over the last decade, the amount of capital deployed worldwide by venture capital investors and the number of start-ups receiving funding have grown substantially. This eliminates hours of manual gathering and consolidation of data for staple reports including budgets, P&Ls, balance sheets, and month-end reporting.
Take a look at how real teams and organizations around the globe have experienced an elevated state of planning and achieved the adaptability, integration, and simplicity they need to shape the future. Chemical manufacturer plans for any scenario Integrating cross-organizational data 3.
These include things like getting off of desktop spreadsheets, aggregating cross-business data into a single cloud-based system , and automating everything that can be automated. But with the right financialplanning and analysis (FP&A) platform, it can be easier than you think. Sound like a tall order?
Now is the time for CFOs at organizations of all sizes to lean on AI to plan, budget, and forecast with greater accuracy, speed, and confidence. Machine learning (ML): Allows computers to learn from a set of data points and then make decisions without human intervention. Essential Terms.
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