Planning for Uncertainty

As in almost all professions, technological advancements and unpredictable, evolving business environments are changing the job responsibilities of top executives, especially those with decision-making powers.

In finance, the biggest change has been in the role of the CFO. It used to be focused solely on control, controllership, accounting, and recording to records, and then treasury and payments.

Now, the CFO needs to focus on the future, where you are going to put that dollar or pound or unit of capital so that it can get to its best use. That has been a growth area; that partnership with the business; and that growth area is the home of FP&A.

Non-technology FP&A trends are also emerging. One is that the FP&A function integrates insights from sales, operations, and human resources to develop a comprehensive view of performance.

The MEA FP&A report stated that such integrations require data not to be scattered across disconnected systems. That would allow the business to achieve a single source of truth.