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What are good KPI's/metrics for measuring performance of the FP&A group? (Webinar Attendee Question)

financial planning & analysis kpis best practicesThis question was asked by an attendee during the Proformative webinar “Finance Transformation: Essential Elements for Driving Success" held on February 27, 2013.  Please join the discussion and add your insights below.

A video of the webinar can be viewed here: https://www.proformative.com/resources/webinar-video-finance-transformation-essential-elements-driving-success

Answers

Topic Expert
Regis Quirin
Title: Director of Finance
Company: Gibney Anthony & Flaherty LLP
LinkedIn Profile
(Director of Finance, Gibney Anthony & Flaherty LLP) |

KPI's are great to track the performance of any dept, division, company. FP&A groups essentially have five main roles. The first two do not lend themselves easily to KPI's: annual planning and ad hoc analysis. However there are three activities that can be monitored and tracked: time to complete variance analysis reporting; time to produce scorecards; and the time it takes to derive conclusions from combining data sets, I.e. production and financial data. There are probably many more that are industry specific.

Sarah Jackson
Title: Associate Editor
Company: Proformative
(Associate Editor, Proformative) |

One may also want to take a look at this free white paper titled Benchmark Study: Long-Range Planning - Steps to Develop a More Effecitve Process:

https://www.proformative.com/whitepapers/benchmark-study-long-range-planning-steps-develop-more-effective-process

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