We've done a number of Proformative webinars on FP&A, with our next one taking place on April 1st. One of our expert speakers, James Myers, has just launched the 2021 FP&A Trends Survey. Please see the below!
Since 2017 James Myers and Larysa Melnychuk have been conducting a survey on the trends within FP&A and the impact of technology on the function.
They are seeing FP&A evolve, but it has been slower than expected.
Please participate in this year’s survey and help define FP&A in 2021:
In the 2020 FP&A Trends survey, the results show FP&A is still defined by long hours and busy work. There has been little progress in Finance Transformation, leaving most FP&A teams spending and average of 42% of their time on Low Value activities.
But there are some FP&A teams breaking the mold – when we look at the “Best in Class”, we are seeing people able to do more in less time and be more accurate. What are these teams doing differently?
- Data collection and data validation is a thing of the past, there is a trusted source of the truth
- Collaboration and business partnering are the core of the role not data hording
- Making technology work to make your job easier, not just relying on Excel
- Insights are accessible in a consumable format, not just a detailed PowerPoint deck
- Forecast Accuracy is a key driver to all forecasting, not just an a nice to have
- FP&A is positioned as a strategic asset and has the right level of investment