The Future of Financial Planning and Analysis
In today's business environment there is an increasing pressure built upon CFOs and the finance function to contribute more to business success. However, making incremental improvements to the traditional finance planning and analysis practices doesn’t scale up with the new demands. To better understand the future of finance, CFO Research conducted a global survey of 335 senior finance executives in May 2015, sponsored by SAP.
The resulting research has been compiled into this Whitepaper describing how finance leaders aspire to support business decision makers in the pursuit of value creation, and how leading-edge financial planning and business analysis capabilities factor into those aspirations.
- IT systems currently supporting planning activities are in fact falling short, with 54% saying there has been a loss in quality in the trade-off for timely reports.
- 76% of senior finance executives agree that, over the next two years, greater agility will become a larger source of competitive advantage, compared with today.
- 84% agree that, over the next two years, the demand for ad-hoc decision support and analysis from finance is likely to increase
- 82% agree that tight integration between financial-planning systems and core ERP supports more effective decision making.
These findings highlight the growing importance of financial planning and analysis (FP&A) to the enterprise and provide insights that can help companies to navigate the uncertain economic times. For detailed information download the Whitepaper