prevero Blog

Strategic Partnership: How do you start this process?

Thursday, 15 February 2018

Strategic Partnership: How do you start this process?

So, your looking to shift resources to be strategic partners, expanding team’s skills & talents or driving key business initiatives with consistent execution. Well, one element for FP&A teams to provide value is strategic partnership. Therefore, with any change in direction or focus its important to understand how to start. Below, I will cover a simplified and quick start guide for starting the strategic partnership process.

Written by Chris Ortega

Strategic Partnership: Why is it important?

Tuesday, 13 February 2018

Strategic Partnership: Why is it important?

Why is strategic partnership important? You might be asking yourself this question when going to a sales meeting, working with another department or attending a company meeting. Strategic partnership is paramount as it allows FP&A teams to spend less time on traditional finance functions like reporting, treasury, tax and investor relations. Instead, they are engaged in detailed data analysis, driving key business processes and leading the company business model and overall strategic direction. Below you will see why strategic partnership is important.

Written by Chris Ortega

How AI and Machine Learning will change FPA

Thursday, 08 February 2018

How AI and Machine Learning will change FPA

Artificial intelligence and machine learning are two elements that will have a vital impact on financial planning analysis (FP&A) being leveraged in organizations. However, to realize the economics of scale of AI & machine learning there are 3 vital elements that need to be present before leveraging these technologies which are massive data, minimum 10 years data history, and focused algorithms. In this post, I will explore 3 impacts AI & machine learning will change FP&A people, processes and value.

Written by Chris Ortega

Financial Modelling Innovation: Do you Modeloff against the Masters of Financial Modelling?

Tuesday, 06 February 2018

Financial Modelling Innovation: Do you Modeloff against the Masters of Financial Modelling?

There’s a saying when it comes to forecasting and budgeting, it is only as good as your financial model. Or at least there should be such a saying because a well-constructed financial model will determine how flexible, accurate and therefore valuable your forecasting and budgeting could become. A well-built financial model is as much of an art as it is a science.

Written by Lance Rubin

Closing the Strategy Gap for Good

Tuesday, 09 January 2018

Closing the Strategy Gap for Good

For many organizations, the strategy gap is a major obstacle that systematically prevents businesses from truly maximizing their Strategic Planning efforts and sustainably creating value for their organization. 

So, what are the underlying causes that routinely lead us down this same perilous path year-after-year?  Should all the blame be placed on competitive and/or volatile markets?  Or are we failing to apply the right management processes to a reoccurring and well-known business problem?

I believe the answer to this question lies in how we choose to view and embrace uncertainty.  

Written by Michael Huthwaite

Why Artificial Intelligence is the Anti-Strategy for FP&A

Wednesday, 03 January 2018

Why Artificial Intelligence is the Anti-Strategy for FP&A

Artificial Intelligence (AI) is everywhere these days. At the time of this post, it is perhaps one of the hottest topics in the entire Tech sector, with venture capital lining up to invest heavily in anything that even sounds like an Artificial Intelligence play. Quite simply, the potential application for AI is so far-reaching that it’s almost difficult to find industries where AI won’t have a significant impact. As a result, it’s clear that AI will be around for a long time.

Written by Michael Huthwaite

The Rise of the Strategic Finance Function

Tuesday, 12 December 2017

The Rise of the Strategic Finance Function

Lately, I’ve noticed a significant uptick in the number of connections I have on LinkedIn who now list Strategic Finance as their primary job description.

As someone who has spent nearly two decades helping organizations achieve greater competency in their Strategic Planning capabilities, I’m very excited to see organizations embrace this term and give Strategic Planning the credit it deserves.

Written by Michael Huthwaite

Drawing the Line Between Strategic and Tactical Planning

Tuesday, 05 December 2017

Drawing the Line Between Strategic and Tactical Planning

Driver-based planning and rolling forecasts have been two of the hottest subjects in FP&A in recent years. Fueled by the need for directional insight and agility, most FP&A teams are now considering these modeling techniques to be must-haves for their organization.

Despite the fact that these concepts represent obvious choices for better predictive planning, many companies are still finding it difficult to implement them successfully. This is troubling, especially as the next frontier of prescriptive (AI) planning is already upon us. Falling too far behind could be a real problem.

So why are so many companies still struggling to master driver based-planning and rolling forecasts?

Written by Michael Huthwaite

Financial Modeling Innovation: Your Financial Model can save lives!

Tuesday, 28 November 2017

Financial Modeling Innovation: Your Financial Model can save lives!

Background

When I started my corporate career 20 years ago I would never have imagined connecting the analytical skills I developed to social issues like obesity, youth homelessness, the criminal justice system, social and affordable housing or any other impact investment programs and interventions.

Then again, why would I? I studied accounting, finance, tax (I try to forget that I did auditing too) and not social sciences, medicine, law and justice.

However, like technology has infiltrated and changed almost all aspects of our lives, the need for financial modeling skills has expanded across a much broader part of the business and now social world. It is no longer limited to investment banking corporate and project finance transactions.

It was really by fate that I stumbled across this opportunity whilst working at a large corporate. I was looking for purpose and a way to contribute to society other than my volunteer days planting a tree. Not that there is anything wrong with planting trees, but after having planted dozens I wanted to apply my passion and skills rather than my spade to help the world we lived in.

Since then I have built more than half a dozen financial models to support bids to the NSW, VIC and QLD governments for either social benefit bonds or affordable housing infrastructure.

Written by Lance Rubin

Does Your FP&A Team Understand The Business?

Tuesday, 14 November 2017

Does Your FP&A Team Understand The Business?

Last week we discussed how to build a partnership covering one part of the equation of Business Partnering and this week we will look at the other. If your FP&A team really wants to take part in strategic conversations and influence the direction setting in the company through Business Partnering, there’s no way around understanding the business. Why? Because how can you set the direction for something if you don’t understand what it is? However, it’s one thing to say that someone must understand something and a completely different thing to gain the understanding. In the case of FP&A gaining a business understanding, we need to look at what concrete initiatives to take.

Written by Anders Liu-Lindberg