For many organizations, the role of Financial Planning and Analysis (FP&A) has been completely reinvented in recent years to support rapidly-changing planning and forecasting needs. There are now great expectations on FP&A teams to leverage financial insights to navigate future uncertainty.
In light of this change, it’s time for FP&A leaders to intelligently support long-range planning as part of a growing role. Find out how you can embrace this opportunity to support decision-making throughout the organization.
It’s Okay to Think About Long-Range Planning Again
During this recent transition period, it was difficult for many FP&A leaders to perform basic functions in their roles. Efforts to identify business trends, use financial analysis to gain insight into trends, and help executives make strategic decisions were all challenged.
For example, no trend chart could fully capture the impact of a global pandemic on business operations and your organization’s financial position. There was no playbook for identifying the right inputs to produce necessary financial insights.
Instead of focusing on long-range planning, many FP&A teams focused on reinventing their projection models on the fly. They thought about how to rethink strategies, respond to change, and then communicate the changes up the food chain to upper management.
Deloitte ran a survey of thousands of Financial leaders in global organizations to identify their most significant challenge with planning for the future during the pandemic.
- Nearly 1 out of 4 surveyed leaders (23.2%) cited the need for “advanced capabilities to sense/respond to the external environment.”
If only FP&A leaders had access to advanced tools that could help them confidently step into long-range planning again. Fortunately, there is a solution to help insulate FP&A leaders from disruption and provide Finance teams with greater agility when performing key financial functions. The solution is the OneStream intelligent finance platform.
How OneStream Supports Long-Range Planning in Finance
OneStream was built with the FP&A team in mind. The platform unifies all aspects of Finance to provide FP&A leaders with financial and operational insights to support faster and more informed decision-making.
If your changing role has brought you closer to operations, sales, and other teams within the organization, then OneStream can help you incorporate their inputs into financial planning, analysis, budgeting, and forecasting.
- Improve agility: Use OneStream to manage global FP&A and increase flexibility for each business line to support overall business plans.
- Predict with confidence: With a click of a button, you can seed budgets and forecasts using the powerful predictive models built into the platform.
- Accelerate planning: Manage rolling forecasts and scenarios so that you can analyze the effects of sales, production, and operations on profitability and future plans.
OneStream is designed to create a repeatable process for FP&A teams to gather information from throughout the organization, assess information, create alignment with organizational goals, and analyze the data in real-time. This process is critical to establish a single source of truth that can be used for effective long-range planning.
We can help your organization embrace this new opportunity to support long-range planning through our industry-leading OneStream software implementation services.
HollandParker Can Support Your Long-Range Planning Goals
HollandParker is a global leader in OneStream software implementation. As a Diamond implementation partner, we are uniquely qualified to help FP&A teams regain control of financial processes to support the organization.
Through our implementation support, we can help you utilize OneStream to support your evolving role as a strategic leader in the organization:
- Strategic Planning & Modeling: scenario modeling and long-range planning.
- Financial Budgeting & Forecasting: unified corporate plans and forecasts, driver-based planning, rolling forecasts, and capital planning.
- Capital Planning: Sales & Operations planning, XP&A, and supply/demand planning.
- Predictive Planning: trend analysis, plus planning and operational forecasting.
It’s time to unleash the power of FP&A to help your organization lead at speed. We can help by supporting your organization’s migration to the OneStream platform. Just take a look at these companies that have already seen positive results from OneStream.
– Ready to discuss whether OneStream is the right fit for your organization? Schedule a consultation with our team. An expert member of our team will help answer your questions, discuss the nature of your role as an FP&A leader, and assess the needs of your organization. We look forward to hearing from you.