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Leveraging Technology
to Power FP&A
Partnered with Adaptive Insights
and Proformative
Sponsor
Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals
Leveraging Technology to Power
FP&A
Proformative Event Notes
• The PPT is available under “Handouts.”
• We will send you links via email to the presentation and
the recording within 24 hrs.
• There are no CPE credits available for this hybrid
webinar.
• We want to hear from you! Ask questions for the Q&A
session at the end of the event.
• Please take the short survey at the end of the webinar.
Welcome to Proformative
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“Proformative is the leading professional development
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Want to learn more? Tell us on your survey!
Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals
Leveraging Technology to Power FP&A
Jeffrey S. Wuest, President, SynFiny Advisors LLC.
Michael Shannon, Solution Specialist, Adaptive Insights
AGENDA
7
• Financial Planning & Analysis Defined (FP&A)
• Technology impact on FP&A
• Sharing Data, Creating Insights, FP&A Value Add
• Demo of a CPM Suite
• A Business Case for FP&A technology project
• Recap and Q&A
8
FINANCIAL PLANNING &
ANALYSIS (FP&A)
DEFINED
WHAT IS FINANCIAL PLANNING
AND ANALYSIS?
9
The SynFiny Advisors definition:
 The critical value creation processes, which requires
a deep understanding of business fluency, finance,
modeling, data systems and processes, and
accounting.
 This typically combines financial and non-financial
data as required to create strategic and operational
financial plans.
 When done well, these processes are a clear
competitive advantage and thus are viewed as
critical by senior leaders.”
WHICH PROCESSES ARE
TYPICALLY OWNED BY FP&A?
10
 Strategic Planning
 Budgeting
 Forecasting
 Management Reporting
 Financial Analysis
 Capital Planning
 Business Modeling
FINANCIAL PLANNING & ANALYSIS
AS GROWTH ENGINE
11
Reconcile
Actual to
Forecast/Budget
Forecast/Budget
Aligned to
Strategy
Improved
Business
Decisions &
Analysis
Deliver
Financial Strategy
via FP&A Systems &
Processes
Lower Cost and Improved
Efficiency/Productivity
• +6% Productivity
• +25% lower SG&A cost
Big Data –
Real Time Data &
Visualization
Real time data (2 to 5x
faster cycle time
Master data enables
analysis
Faster decisions and
actions than competition
Make better investment
decisions
Higher Sales/Lower Cost
• Sales increase of app
+~2% per year
• Cost decrease of app.
+~2% per year
12
TECHNOLOGY IMPACT ON
FP&A
WHERE MOST FINANICAL PLANNING
TIME IS SPENT
13
• Sales
• Cost
• Marketing
• Overheads
• Currency /
Commodity
Collect
Inputs
• Revenue
• COGS
• Budgets
• Override
• Plugs
• Before
and
After Tax
Process
Data
• Management
Reports
• Analysis
• External
Reports
Share
Output
45% 40% 15%
FUTURE OF TIME SPENT ON
FINANCIAL PLANNING
14
•Sales
•Cost
•Marketing
•Overheads
•Currency /
Commodity
Collect
Inputs
• Revenue
• COGS
• Budgets
• Reserves
• Before
and After
Tax
Process
Data
• Management
Reports
• Financial
Analysis
• Cost Analysis
• Budget
Analysis
• External
Reports
Share
Output
10% 30% 60%
LEVERAGE TECHNOLOGY
TO STEP CHANGE FP&A
15
AREA OF WORK PAST TODAY
FP&A Systems Only excel, highly non-standard FP&A tools available.
Input and Processing Too much time spent collecting
excel templates or emails
Input and processing happens in
the FP&A system
Outputs Unintegrated systems make
cutting and pasting a must
Integrated systems enable
automated and efficient data
analysis and reporting
Closing Books Weeks to Months Days to Weeks
Accounting Systems Slow & poorly designed. Mostly
locally, un-integrated systems
Fast & well designed. Fully
integrated and standard ERP.
Chart of Accounts No common chart of accounts,
Accounts created for each use
Standard chart of accounts.
Simplified for business use.
Ability to view details Only high level analysis. Unable
to view details
Low level analysis. Drill into all
levels of transactions.
“KEY WATCH OUT”
FIX FP&A PROCESSES AND THEN TOOLS
16
Deliver FP&A Process First, Then Tools –
Avoid replacing costly systems when a
financial planning issue arises. Instead,
focus on the real root causes. The root
cause is typically related to work process,
organization design, or company culture.
17
SHARING DATA,
CREATING INSIGHTS,
FP&A VALUE ADD
FINANCIAL PLANNING & ANALYSIS
AS VIRTUOUS PLANNING CYCLE
18
Reconcile
Actual to
Budget/Forecast
Update Budget
or Forecast
Improved
Business
Decisions &
Analysis
Deliver
Financial Strategy
via FP&A Technology
ERP to CPM/EPM
Automation used to
understand actuals to
budget/forecast
CPM/EPM Tools support
the creatation of the
future budget and
forecast data needed to
deliver strategy
BI/Analytic Tools
translate data into
insight supporting
both reporting and
analysis
Big Data - Real
Time Data &
VisualizationWork Flow / Social Tools
enable teams to
communicate more
easily about decisions to
deliver financial strategy
FP&A DRIVEN INSIGHTS
FOR THE BUSINESS
19
Other Functions Own FP&A Owns By working together
C-Suite leaders own the
business strategy which
articulates the plans from
today to the future
Developing the broader
financial strategy which
ensures the future plans are
achieved via operations
The business and financial
strategies are unified into
a single and achievable
operational plan
Supply Chain creates the
demand and supply plans via
ERP systems
Providing a revenue and cost
of goods forecast based on
units and future pricing/cost
expectation.
Unit and Currency sales or
cost can be easily
explained.
Supply Chain provides detailed
level of demand and supply
plans via ERP Systems (by sku,
country, category)
Developing a detailed mix
analysis for both revenue and
cost of goods.
Make changes to revenue
or cost plans. Especially
marketing plans to offset
any negative impact of mix
All Functions own providing
SG&A budget inputs and
understanding their spending
Creates SG&A budget
objectives and visibility which
align to the Financial Strategy
Control and improve SG&A
spending to deliver higher
savings (more with less)
Sales and Marketing develop
trade or marketing plans to
build the business
Analyze and assess the viability
of the sales or marketing
investment choices
Develop and deliver trade
or marketing plans which
deliver financial strategy
20
DEMO OF THE
ADAPTIVE INSIGHTS
CPM SUITE
21
BUSINESS CASE FOR
FP&A TECHNOLOGY
PROJECT
BUSINESS CASE FOR
FP&A TECHNOLOGY
22
Building blocks to a well written business case:
Business rationale for the change
Scope of the full project
Benefits realized
Changes to company cultural
Required investments or resources
Significant interdependencies
High level timeline
Review and approved
DESIGN CHOICES FOR
FP&A TECHNOLOGY
23
High level design choices:
Drives Faster Business Decision Making
Link budget/forecast with actuals
Detailed reconciliation process
Automated/semi-automated with ERP system
Standard Reporting & Analysis
Big Data but no need to integrate from start
Validate or helps cleanse master data
TO RECAP
24
How to use Technology to Power FP&A?
 C-level leaders need to be supportive of change
 Focus on culture/org/process and then solutions
 Expect more from Finance & Accounting systems
 Big data to create insights and drive decisions
 ERP for lower level, real time analytical data
 Work with IT on joint projects to improve data
• Thanks to our speakers
• Join us at www.proformative.com to continue the
conversation with your peers in our community
• If you want an introduction to today’s speakers
or sponsor, or want to know more about
Proformative Academy or CFO Dimensions, tell
us on the survey!
A Few Final Items
Sponsor
Questions or Comments?
Contact me directly to continue the discussion:
Email: jswuest@synfiny.com
Website: synfiny.com
Mobile: (513) 884-6134

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Leveraging Technology to Power FP&A

  • 1. Leveraging Technology to Power FP&A Partnered with Adaptive Insights and Proformative
  • 3. Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals Leveraging Technology to Power FP&A
  • 4. Proformative Event Notes • The PPT is available under “Handouts.” • We will send you links via email to the presentation and the recording within 24 hrs. • There are no CPE credits available for this hybrid webinar. • We want to hear from you! Ask questions for the Q&A session at the end of the event. • Please take the short survey at the end of the webinar.
  • 5. Welcome to Proformative • Proformative Academy - over 250 on-demand courses • Proformative Community - over 10,000 discussions • Proformative Webinars – over 200 topical webinars per year • CFO Dimensions Conference “Proformative is the leading professional development resource for every member of the Office of the CFO” Want to learn more? Tell us on your survey!
  • 6. Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals Leveraging Technology to Power FP&A Jeffrey S. Wuest, President, SynFiny Advisors LLC. Michael Shannon, Solution Specialist, Adaptive Insights
  • 7. AGENDA 7 • Financial Planning & Analysis Defined (FP&A) • Technology impact on FP&A • Sharing Data, Creating Insights, FP&A Value Add • Demo of a CPM Suite • A Business Case for FP&A technology project • Recap and Q&A
  • 9. WHAT IS FINANCIAL PLANNING AND ANALYSIS? 9 The SynFiny Advisors definition:  The critical value creation processes, which requires a deep understanding of business fluency, finance, modeling, data systems and processes, and accounting.  This typically combines financial and non-financial data as required to create strategic and operational financial plans.  When done well, these processes are a clear competitive advantage and thus are viewed as critical by senior leaders.”
  • 10. WHICH PROCESSES ARE TYPICALLY OWNED BY FP&A? 10  Strategic Planning  Budgeting  Forecasting  Management Reporting  Financial Analysis  Capital Planning  Business Modeling
  • 11. FINANCIAL PLANNING & ANALYSIS AS GROWTH ENGINE 11 Reconcile Actual to Forecast/Budget Forecast/Budget Aligned to Strategy Improved Business Decisions & Analysis Deliver Financial Strategy via FP&A Systems & Processes Lower Cost and Improved Efficiency/Productivity • +6% Productivity • +25% lower SG&A cost Big Data – Real Time Data & Visualization Real time data (2 to 5x faster cycle time Master data enables analysis Faster decisions and actions than competition Make better investment decisions Higher Sales/Lower Cost • Sales increase of app +~2% per year • Cost decrease of app. +~2% per year
  • 13. WHERE MOST FINANICAL PLANNING TIME IS SPENT 13 • Sales • Cost • Marketing • Overheads • Currency / Commodity Collect Inputs • Revenue • COGS • Budgets • Override • Plugs • Before and After Tax Process Data • Management Reports • Analysis • External Reports Share Output 45% 40% 15%
  • 14. FUTURE OF TIME SPENT ON FINANCIAL PLANNING 14 •Sales •Cost •Marketing •Overheads •Currency / Commodity Collect Inputs • Revenue • COGS • Budgets • Reserves • Before and After Tax Process Data • Management Reports • Financial Analysis • Cost Analysis • Budget Analysis • External Reports Share Output 10% 30% 60%
  • 15. LEVERAGE TECHNOLOGY TO STEP CHANGE FP&A 15 AREA OF WORK PAST TODAY FP&A Systems Only excel, highly non-standard FP&A tools available. Input and Processing Too much time spent collecting excel templates or emails Input and processing happens in the FP&A system Outputs Unintegrated systems make cutting and pasting a must Integrated systems enable automated and efficient data analysis and reporting Closing Books Weeks to Months Days to Weeks Accounting Systems Slow & poorly designed. Mostly locally, un-integrated systems Fast & well designed. Fully integrated and standard ERP. Chart of Accounts No common chart of accounts, Accounts created for each use Standard chart of accounts. Simplified for business use. Ability to view details Only high level analysis. Unable to view details Low level analysis. Drill into all levels of transactions.
  • 16. “KEY WATCH OUT” FIX FP&A PROCESSES AND THEN TOOLS 16 Deliver FP&A Process First, Then Tools – Avoid replacing costly systems when a financial planning issue arises. Instead, focus on the real root causes. The root cause is typically related to work process, organization design, or company culture.
  • 18. FINANCIAL PLANNING & ANALYSIS AS VIRTUOUS PLANNING CYCLE 18 Reconcile Actual to Budget/Forecast Update Budget or Forecast Improved Business Decisions & Analysis Deliver Financial Strategy via FP&A Technology ERP to CPM/EPM Automation used to understand actuals to budget/forecast CPM/EPM Tools support the creatation of the future budget and forecast data needed to deliver strategy BI/Analytic Tools translate data into insight supporting both reporting and analysis Big Data - Real Time Data & VisualizationWork Flow / Social Tools enable teams to communicate more easily about decisions to deliver financial strategy
  • 19. FP&A DRIVEN INSIGHTS FOR THE BUSINESS 19 Other Functions Own FP&A Owns By working together C-Suite leaders own the business strategy which articulates the plans from today to the future Developing the broader financial strategy which ensures the future plans are achieved via operations The business and financial strategies are unified into a single and achievable operational plan Supply Chain creates the demand and supply plans via ERP systems Providing a revenue and cost of goods forecast based on units and future pricing/cost expectation. Unit and Currency sales or cost can be easily explained. Supply Chain provides detailed level of demand and supply plans via ERP Systems (by sku, country, category) Developing a detailed mix analysis for both revenue and cost of goods. Make changes to revenue or cost plans. Especially marketing plans to offset any negative impact of mix All Functions own providing SG&A budget inputs and understanding their spending Creates SG&A budget objectives and visibility which align to the Financial Strategy Control and improve SG&A spending to deliver higher savings (more with less) Sales and Marketing develop trade or marketing plans to build the business Analyze and assess the viability of the sales or marketing investment choices Develop and deliver trade or marketing plans which deliver financial strategy
  • 20. 20 DEMO OF THE ADAPTIVE INSIGHTS CPM SUITE
  • 21. 21 BUSINESS CASE FOR FP&A TECHNOLOGY PROJECT
  • 22. BUSINESS CASE FOR FP&A TECHNOLOGY 22 Building blocks to a well written business case: Business rationale for the change Scope of the full project Benefits realized Changes to company cultural Required investments or resources Significant interdependencies High level timeline Review and approved
  • 23. DESIGN CHOICES FOR FP&A TECHNOLOGY 23 High level design choices: Drives Faster Business Decision Making Link budget/forecast with actuals Detailed reconciliation process Automated/semi-automated with ERP system Standard Reporting & Analysis Big Data but no need to integrate from start Validate or helps cleanse master data
  • 24. TO RECAP 24 How to use Technology to Power FP&A?  C-level leaders need to be supportive of change  Focus on culture/org/process and then solutions  Expect more from Finance & Accounting systems  Big data to create insights and drive decisions  ERP for lower level, real time analytical data  Work with IT on joint projects to improve data
  • 25. • Thanks to our speakers • Join us at www.proformative.com to continue the conversation with your peers in our community • If you want an introduction to today’s speakers or sponsor, or want to know more about Proformative Academy or CFO Dimensions, tell us on the survey! A Few Final Items
  • 27. Questions or Comments? Contact me directly to continue the discussion: Email: jswuest@synfiny.com Website: synfiny.com Mobile: (513) 884-6134