It may seem obvious to many, but businesses need new skills in the
workplace to succeed in today’s digital world. However, some financial
planning and analysis teams still have some catching up to do. FP&A
needs to improve its digital skills to make finance greater than the sum
of its parts.
Every second that you spend reading this, Google is answering more than 40,000 search queries, harnessing the power of two billion people. The search engine connects what users want with what they choose, producing a body of information that is infinitely greater than the sum of its parts.
The analogy holds true for finance, specifically functions like financial planning and analysis (FP&A) and enterprise performance management (EPM). To make finance greater than the sum of its parts, we need to make similar connections. For example, to become a true business partner we must link:
- An organization’s vision with finance’s role in that vision
- Execution speed with capacity and quality
- How insight is consumed and acted upon
For many organizations, gaps still exist on all three fronts. But new skills and technologies can change finance and EPM capabilities for the better. As this article outlines, they can provide better, faster insights that result in solid strategic decisions.