Business leaders today must excel in operational agility to be able to predict and respond to changing market conditions and potential future threats and opportunities.
For many, business agility has become a critical success factor and they expect the same from their support and advisory functions.
The missing link
It is no longer sufficient for a controlling department to focus on historical number crunching, financial report generation, annual planning and forecast preparation.
FP&A is expected to serve as advisors in strategic decision making, synthesizing data from all parts of the organization to unlock hidden value and spot future threats.
Agility adds value
Business agility is a way of describing organizations that deliver fast and responsibly, innovate and disrupt, and continuously adapt their structures and ways of collaboration.
By embracing an agile mindset and replacing traditional structures and behaviors with new ways of working, FP&A teams will maximize their value contribution and impact.
How to achieve agility in FP&A
The FP&A organization needs to focus on developing capabilities in four essential areas, built upon the foundation of agile leadership and digital enablement.
Become a more relevant and innovative FP&A function
Today, many FP&A organizations are facing a serious risk: they still operate in traditional ways and are not set up to perform the role leadership needs them to play. Business leaders look for fast, proactive and analytics-driven decision support on their side at all times to steer the business strategically and respond to changing market conditions.