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CFO Insights — Unleashing the potential — and power — of FP&A

Published on: Feb 23, 2017

As CFOs make structural changes to their finance departments — weaving together a mix of shared service centers, centers of excellence, and outsourcing arrangements — they create new opportunities for the remaining or “retained” finance function to add more value. Case in point: The financial planning and analysis (FP&A) function, which may be particularly poised to play a more strategic role across the enterprise.

To leverage its power, CFOs need a long-term, multifaceted plan that will result in FP&A delivering a wide range of data-driven insights that support everything from operational decision-making to organizational strategy. Start by having a current-state conversation with the head of FP&A (see “What to ask your FP&A leader”). Then, armed with that information, CFOs should consider implementing a “Three C’s” framework: capacity, capability, and collaboration, which entails:

  • Capacity: Obtaining the appropriate time and resources to focus on high-impact activities beyond foundational planning, budgeting, and forecasting.
  • Capability: Retaining employees with the right skill sets and experience to support the organization on its critical business issues.
  • Collaboration: Cultivating access to, and relationships with, business stakeholders.

This issue explores the “Three C’s,” and discusses how, when leveraged properly, they can propel FP&A to a higher level.


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