As we close out 2019 and start looking forward to 2020, we want to give you the opportunity to help define the 2020 FP&A Empowerment Survey. We're planning to add a few new questions to our ground breaking survey and want your input. So we are asking you what are the burning questions you think will shape the FP&A profession in 2020 and the world?
The results of our survey provide benchmarks and insights drawn from over 600 participants who are engaged in the finance function across a diverse set of industries around the globe. The FP&A Empowerment survey is entering its 3rd year and some of the key discoveries we’ve made so far:
- Executive perception of FP&A Strategic importance is up: Executive perception of strategic impact made by FP&A has increased 9pts to 69% from prior year
- FP&A walks from Excel: Excel is down, and Cloud solutions are up. Cloud is driving down the usage of Excel during planning from 72% to 54%
- Not enough time: FP&A teams feel they should be spending at least 33% more time on high value activities but don’t have the time
- Forecast accuracy falls short: A significant amount of time is spent on forecasting, yet 59% of FP&A teams are concerned about the accuracy of their forecast results
- The elusive single source of truth: 32% of FP&A teams believe the biggest issues they face with data is no single source of truth
- 46% of FP&A teams have no plans to leverage AI or ML soon.
Help us shape the 2020 discoveries – please send us your questions in the comments box below