By Neil Ainger, GTnews
Published first on http://www.gtnews.com and http://www.afponline.org/ in May 2014
The FP&A Board met for the third time in London on 1 May 2014. The discussion was focused on how best to generate insights from data and ensure staff have the people skills to communicate data in a way that generates insights.
Steve Wills, Director of Insight Management Institute and the guest speaker, stated that Insight and Insight Management are about understanding a company's information needs and then managing the way in which information flows through the organisation so that it has a positive effect. It’s about getting the right information to the right people, at the right time and in the right format to drive change. It isn’t about production but stakeholder management, issue analysis, journalistic skills and much more"
Insight Management delivers the true value to the business and not just a one-off nugget of information. And FP&A have a definite role to play in organisational Insight Management framework.
FP&A goes by many names. In Germany, it is called “Controlling”. From my previous visits to Germany, I knew that German Controllers are different from Accountants: they are forward-looking, analytical and often very technical in their approaches.
Recently, I got a great opportunity to learn how FP&A is evolving in Europe’s strongest economy.
I was invited to speak at the first FP&A/Controllers’ event in Hamburg that was organized by IMPLEXA . “It is going to be an unusual format”, Timo Wienefoet , the Managing Partner of IMPLEXA warned. “We will combine our FP&A discussion with wine tasting”....