Recent developments are allowing financial planning and analysis (FP&A) to affect better decision-making. Tools such as multidimensional cubes and predictive analytics are allowing for improvements in forecasting and planning. While the percentage of companies using these tools remains small—around 20 percent—as the cost of system ownership falls and the demand for FP&A to provide business and management support rises, more and more organizations will continue to adopt them.

How FP&A is Improving Analytics, the latest in AFP’s FP&A Guide Series, provides finance professionals with expert advice and real-world insights on how FP&A can get the most out of analytics to help drive strategic decision-making. Practitioners from PAREXEL International, General Dynamics, Norgine and Konica Minolta provide examples of how they are using analytics to move their organizations forward.

 

More companies are using advanced analytical techniques and leveraging predictive models to improve the quality and accuracy of outputs. “We’re at an inflection point,” insisted Philip Peck, vice president at the Peloton Group. “The pace of internal and external change continues to accelerate; our world is more complex, dynamic, and filled with uncertainty. From an FP&A perspective that means the organization is asking more of the finance function.”

Download How FP&A is Improving Analyticshere.