- Solution overview
Build resilience with an agile FP&A function
Helping FP&A become agile, more efficient, and resilient
The COVID-19 crisis has compelled organizations to operate in an economically volatile environment. For businesses to remain financially resilient while still striving for growth in the near future, they are turning to their financial planning and analysis (FP&A) teams to guide them through the uncertainty. But now FP&A teams have new datasets to analyze, insights to generate, and actions to take under ambiguous circumstances. And with the demand for more frequent forecasts, only few are able to meet businesses' expectations.
Impact assessment – With the need to constantly update the forecasting models, the traditional planning and forecasting frameworks most organizations use prevent FP&A teams from completing a comprehensive impact assessment.
Financial stress testing – Organizations that have not implemented connected planning or driver-based forecasting are finding it difficult to adequately stress-test for the worst-case scenarios and enable their businesses to plan for contingencies.
Data analytics and machine learning (ML)-driven scenario modeling – Though machine learning has made inroads in some organizations' forecasting and planning processes, in this situation, some ML-based models are struggling because of the lack of historic data to train the algorithms.
Working remotely and balancing regular versus additional work – FP&A teams are not set up to work remotely as they require smooth coordination between business functions and finance. Continuous forecasting and the need for analytics is putting pressure on already-inundated FP&A teams. Firms that have broken data models or rely on spreadsheets for reporting are struggling to manage the disruption.
We help companies create a more agile FP&A function by adopting integrated business planning, analytics on demand, and scalable operating models and enhancing how it informs a company's strategic decision-making.
In the immediate short term: Injecting agility
Over short-to-medium term: Optimizing the cost-to-serve
Over the longer term: Building business resilience
We partnered with a spectrum of companies – across industries – to help them inject agility into their FP&A functions and improve business outcomes.
Reporting and analytics:
Planning and forecasting:
Learn more about how Genpact can help with enterprise performance management.