prevero Blog

How To Improve Company Performance With FP&A Business Partnering

Tuesday, 17 October 2017

How To Improve Company Performance With FP&A Business Partnering

Companies are constantly looking for ways to improve their performance and there’s no doubt it’s easier if different functions work together on finding improvement ideas. It’s clear that certain functions execute the ideas while others support on the sideline and manage the outcomes of the ideas. FP&A is such a support function that typically works at the corporate or HQ level with strategic concepts ideally supporting senior leaders or top management even with driving their agenda. So, how can FP&A teams most effectively help their stakeholders improve performance? The answer is Business Partnering and let us expand on that.

Written by Anders Liu-Lindberg

How You Can Implement FP&A Business Partnering In Your FP&A Function

Tuesday, 10 October 2017

How You Can Implement FP&A Business Partnering In Your FP&A Function

In my last blog, we discussed what FP&A Business Partnering is and what you need to focus on to be successful. Now we’ll turn to how to implement the concept in your finance function and more specifically with your FP&A teams. Before we examine some of the implementation options you have it’s important to state that you cannot just send your FP&A team home on a Friday and have them equipped with a new business card on the following Monday with “Business Partner” added to their title. Many finance functions have tried that in the past and none of them - I repeat none of them - have been successful. Being a business partner requires a specific skillset that needs to be added on top of what the FP&A professional is already able to do. Furthermore, specific conditions should be in place to increase the chance of success.

Written by Anders Liu-Lindberg

Financial Modeling Innovation: The Demand for Financial Modeling Skills reaches new heights

Wednesday, 04 October 2017

Financial Modeling Innovation: The Demand for Financial Modeling Skills reaches new heights

Have you noticed lately how many finance roles have “financial modeling” listed as a core skill? Financial modeling is now one of the most sought-after skills in today’s corporate world and demand for financial modeling experience continues to outstrip supply! The changes we see in our everyday lives are reflected in the corporate world and the finance industry is no exception.

Written by Lance Rubin

What Is FP&A Business Partnering?

Tuesday, 26 September 2017

What Is FP&A Business Partnering?

As finance functions around the world have been transformed to run very efficiently by utilizing Global Shared Service Centers in low-cost locations, companies are starting to demand more effectiveness from the finance function. 

Written by Anders Liu-Lindberg

FP&A Data Viz Question #4: Are You an Ethical Presenter? Are You Sure?

Tuesday, 05 September 2017

FP&A Data Viz Question #4: Are You an Ethical Presenter? Are You Sure?

Of the four essential questions every effective FP&A professional should ask before presenting graphical information, the first three focused on making the information understood. The fourth, and last, question you should ask yourself is different: 

Is there anything about your graph that might cause your audience to question your agenda or even your honesty?

Written by Randall Bolten

FP&A Data Viz Question #3: Does Your Graph Actually WORK?

Tuesday, 15 August 2017

FP&A Data Viz Question #3: Does Your Graph Actually WORK?

We’re making good progress! You’ve decided that a graph is the right way to present your FP&A information (Data Viz Question #1) and chosen the right chart type. But we’re not finished yet – now you must address Question #3:

What changes and additions to the graph will help your audience understand its central messages quickly and accurately? Will visual effects that “beautify” the graph help or hurt that objective?

Written by Randall Bolten

Data Viz Question #1: Is Graphing the Right Choice?

Thursday, 13 July 2017

Data Viz Question #1: Is Graphing the Right Choice?

In my last article, I listed four questions you should ask yourself, and the order you should ask them in, if you are an FP&A professional considering using data visualization to communicate your information. In this article, we address Question #1: Which is the most effective way to impart your key information – a table or a graph? 

Written by Randall Bolten

FP&A Data Visualization: Don’t Skip ANY of These Questions!

Tuesday, 04 July 2017

FP&A Data Visualization: Don’t Skip ANY of These Questions!

Data visualization – or graphing, to use a more plebeian synonym – is one of the hottest buzzwords in FP&A today… right up there with “big data” and “predictive analytics”. It can certainly be an immensely powerful tool for helping your audience grasp your most important points. And it’s getting more powerful – in addition to good old Excel’s already-lengthy list of graphing capabilities, there’s an increasing number of excellent data visualization software products.

Written by Randall Bolten

Learning to love risk

Thursday, 22 June 2017

Learning to love risk

If measurement – or the lack of it – is the biggest weakness in most forecasting processes, risk is the least well understood concept…mainly because it is something that we think we understand, but we don’t.

Written by Steve Morlidge

Playing Golf in the Dark

Thursday, 15 June 2017

Playing Golf in the Dark

About the only thing that everyone seemed to agree on in my old company was that forecasting was really important and that our forecasts were poor. But when I asked people how they knew that they were no good I got a variety of answers rather like the one a judge once gave when asked to give a definition of pornography: ‘I know it when I see it”.

Written by Steve Morlidge

We need a rolling forecast! Really? Why?

Tuesday, 06 June 2017

We need a rolling forecast! Really? Why?

I’d like to claim that I am not easily annoyed….but that would be untrue. And one of the things that is guaranteed to irritate me are glib statements from people who claim to be experts – particularly if it is part of an act to get people to buy something.

Written by Steve Morlidge

How do forecasts differ from budgets?

Tuesday, 23 May 2017

How do forecasts differ from budgets?

In a previous blog post I mentioned that people who are highly sensitive to the lack of flexibility of traditional budgeting often see rolling forecasts as the answer. If we update our view of the future more frequently and don’t confine it to the financial year it is obvious that this will be more useful than traditional annual budgets based on the financial year.

Written by Steve Morlidge

Engineering Trust

Tuesday, 09 May 2017

Engineering Trust

In the last blog I described how it is possible to implement Beyond Budgeting in a step-by-step fashion.

If you choose to go down this route you will become increasingly uncomfortably aware of a disconnect between Beyond Budgeting style processes and the rules and routines that govern normal business life in a traditional organisation.

Written by Steve Morlidge