FP&A leaders clearly recognize the need to improve their team’s planning, reporting, and analytic abilities. However, crafting effective long-term solutions can be challenging when faced with ever-increasing complexity, uncertainty, risk, and elevated business demands from key internal and external stakeholders.
Many organizations have the tendency to address their needs in a somewhat haphazard fashion. In such scenarios, the “crisis de jour” results in point solutions at the expense of a more holistic, longer-term strategic vision and execution game plan. These solutions may satisfy the near-term tactical business needs. But how do you lay the foundation for digitally enabled advanced capabilities that support the full breadth of organizational needs?
Establishing a world-class FP&A-driven planning, reporting, analytic, and decision-making strategy requires you to evaluate key dimensions. You need to take into account core business processes, technology, data and information, people and organization, governance, and change management.
It's of paramount importance for the FP&A team to have an intentional game plan in the form of a go-forward roadmap.
That roadmap should reflect a prioritized set of initiatives structured to make progress towards the desired future state vision. At my FinNext session, “Follow the Yellow Brick Road: Establishing a Finance Transformation Roadmap”, I’ll lay out a plan on how to implement such a roadmap.
We will explore practical real-world examples from organizations such as General Dynamics, Hanover Insurance, Sunovion Pharmaceuticals, and Navistar that feature the critical elements for creating, refining, and socializing the roadmap, crafting its value proposition, and tips and tricks for getting started on the finance transformation journey.
Vice President Finance Transformation