The ongoing digital transformation has put a premium on the ability to manage and interpret data and extract complex information to provide insights into the decision-making process of the organization. The goal of the FP&A function is to improve business decisions by allocating capital to its best use. The FP&A professional is a financial expert, strategic and adept communicator, as well as a trusted advisor to the business.
The main objective of FP&A team is to help the organization through effective financial and business planning, resource allocation and management of business performance, both short term and long term.
Here are some of the key goals of an FP&A team:
1. Enable a better understanding of where the business is heading.
2. Become a valued partner and trusted advisor to business.
3. Help company become more strategy focused by better linking reporting and financial plans to strategic goals.
4. Ensure that resource allocation is driven by strategy and optimize performance across the entire business.
5. Constantly improve FP&A teams, processes, and systems towards world class performance.