Planning in an Uncertain Environment: FP&A Pre-Meeting Survey
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Seventy percent of respondents to a NeuGroup survey report that they plan to run more scenario analyses to stress-test potential developments.
Key Findings. The accompanying report highlights our findings as well as practitioner input from an FP&A pre-meeting survey in July 2022. Here are the three main takeaways:
Likelihood of a Recession. 80% of FP&A leaders reported that a recession is likely or very likely and 100% say that FP&A must play a critical role in these times of economic uncertainty.
Supporting Business Partners. 100% of respondents expect a rise in demand for help from their business partners. FP&A will need to provide better insights to enable management to make smart business decisions about headcount and costs reductions.
Multiple Methodologies. 30% are using algorithmic forecasting, automating, and speeding up the time it takes to produce the forecast and only 20% include event-based forecasting in their toolkit, being opportunistic when there’s a substantial shift in conditions.
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