Monthly Archives: October 2020
FP&A Trends: Managing Fixed Costs During Uncertainty
When looking to reduce fixed costs, Karnawat suggests investigating these expense categories: Payroll and benefits Supplier relationships Outsourcing Cost of operations and value creation Culture Read more at FP&A Trends >
McKinsey: Overcoming the Core-Technology Transformation Stalemate
“Which approach describes your digital transformation? “Repaint” by making the minimum investment required to maintain existing operations and digital channels; “renovate” through gradual but persistent upgrades of the core and more substantial improvements when necessary; and “rebuild and replace,” by building or buying a completely new IT stack (or large portions of it) and migrating […]
SF Magazine: A Data-Driven Approach to the Pandemic
“It has never been more urgent for businesses to adopt data analytics. Insights from data analytics are required to surpass, or, in some instances, merely remain on par with, competitors. Companies leveraging data analytics in response to the pandemic have already progressed along the path to digitization by establishing a data ecosystem—the infrastructure, applications, and […]
FP&A Trends: Let Traditional Budgeting be a Victim of this Pandemic
“Instead of annual forecasts of things that cannot be predicted or controlled, with December 31 as the fictitious deadline, companies should monitor the reality on a regular basis and work more with trend analyses and unbiased (mathematical) forecasts.” Read more at FP&A Trends >
AllBusiness: Looking to the Future: 5 Steps to Better Financial Projections During Covid-19
“Almost overnight, a global pandemic turned the status quo on its head, and individuals and businesses were left scrambling to adapt and overcome the challenges they faced. Click on https://ncplanning.com/business-corporate-planning/ to access important information regarding business laws. For some businesses, that was a loss in foot traffic or a change in consumer behavior. For others, […]
Global Banking & Finance Review: The Impact of Covid-19 on Planning
“The Hackett Group’s EPM Performance Study revealed that top-performing FP&A organizations have invested more in technology, which has enabled them to run more analysis and deliver reporting faster and more efficiently. Of top performers, 67% have implemented a primary financial planning and forecasting system to consolidate corporate and country, region or BU information.” Read more […]
SF Magazine: Financial Reporting During the Pandemic
It’s valuable for financial reporting professionals to reconsider not only the information needed for these projections, but also to reconsider their reliance on the existing patchwork of solutions and spreadsheets that slow down the process. Systems improvements can facilitate the development of critical estimates and create the supporting documentation, an evidentiary trail of review and […]
CFO Magazine: The CFO of 2030
“those CFOs that were best able to weather this storm are the very same CFOs who really represent the future of the function. They are the ones who are close to the data.” Read more at CFO Magazine >
WSJ: Anticipate, Test ‘What If’ Scenarios With Analytics
“As organizations navigate the many issues they’ve had to address in recent months, some may be capturing and documenting their decisions and actions so the information can be leveraged as part of future continuity planning. Indeed, the insights gained through the pandemic can be helpful in preparing for other events or scenarios, whether in isolation […]