Financial Planning and AnalysisTechnologyTreasury Management
August 25, 2022

Transformation and the IT/Finance Partnership

Collaborating with IT is essential for transformation success, and new tech solutions may precede process redesign. Finance transformation goes way beyond automation and the implementation of new tech solutions, to include process redesign and talent development. Its goal is to build new finance capabilities, by optimizing processes and reducing the time it takes to collect, compile and cleanse data. The upshot is that staff can focus on higher level activities, such as business partnering and strategic planning. But the modernization…
Cash & Working CapitalFP&AThe NeuGroup Insights Interview
July 28, 2022

How the FP&A Team at WM Is Preparing for Recession

Looking back, looking forward: WM’s Eric Davis on how data and analysis guides planning as the economy weakens. How do the best financial planning and analysis (FP&A) teams rise to the current, critical challenge of planning, budgeting and guiding corporate leaders in periods of high uncertainty and volatility as recession fears mount? To answer that question, we turned to Eric Davis, vice president of finance at WM, formerly known as Waste Management. Listen to his response by hitting the play button…
October 28, 2021

Forecasting in the Fog: FP&A Teams Become a Lighthouse—And a Rudder

With supply chains still in flux and Delta not quite in the rearview, FP&A teams need to shine a brighter light on future developments.The pandemic rendered most corporate budgets and forecasts obsolete, and FP&A had to quickly step in to provide some visibility into future performance.  According to peer group leader Brian Kalish, the Covid-19 pandemic was like “a bank of fog rapidly and unexpectedly engulfing a ship at sea.” Teams must now find new ways to pilot the ship…
October 25, 2021

“Data is the New Water” – Data Analytics & Accuracy

About this meeting Data analytics is the critical first step to take as we acquire data, convert that data into insights, transform those insights into knowledge, and lever that knowledge to assist the organization to make those better, faster, smarter business decisions that are always important, but have an even greater priority given the tumultuous times the world currently faces. Data analytics is not new. Today, though, the growing volume of data (currently measured in brontobytes = 10^27th power) and…
September 23, 2021

Expanding Horizons: Making the FP&A Mindset Cross-Functional

One member’s team streamlined its approach to forecasting with a transformation model from FP&A solutions provider Jedox. FP&A teams use data analysis to help companies understand their finances and plan for a long term future—but why limit this to only the finance group? At a recent meeting of NeuGroup for Financial Planning and Analysis, Dr. Liran Edelist, president of Jedox, shared how the company’s planning and analytics solution supports digitizing the FP&A function and broadening its scope. (Dr. Edelist has a…
Cash & Working CapitalFP&A
September 16, 2021

Here and Now: The Benefits of Right-Time Finance for FP&A

At a time when agile enterprises are in favor, OneStream suggests finance functions live more in the moment.Accounting functions tend to look backward, with reporting that’s subject to close processes and consolidation. Planning and forecasting, on the other hand, is looking forward, seeking to support business partnerships by helping managers predict what’s coming. Covid—especially the early period of the pandemic, which was arguably the most forecasted and re-forecasted period in modern history—has helped emphasize the importance of focusing more on…
August 24, 2021

FP&A Leaders Address “Plans are Useless, but Planning is Indispensable” – the Importance of Robust Scenario Planning

About this meeting In this world of great uncertainly, knowing the most likely business scenarios permits organizations to maximize the opportunities and minimize the risks. The ability to respond quickly and pivot to any given change in our environment is critical and requires robust scenario planning. Knowing and understanding the most probable and possible business outcomes, enable organizations to focus on the likely and avoid wasting resources on the unlikely. Member-only, open dialogue in a closed environment is a critical…
August 16, 2021

NeuGroup for Heads of FP&A H2 Meeting

About this meeting Aiming to build on the success of the first meeting of the FP&A Heads Pilot Peer Group, NeuGroup is hosting its second semi-annual meeting. This event, sponsored by OneStream and consisting of Fortune 100 companies, will be focused on having more in-depth and meaningful conversations on the topics that garnered interest during our first meeting. About this Peer Group NeuGroup is proud to announce the launching of our first FP&A-focused member group. It will be an outstanding addition…
July 8, 2021

FP&A Leaders Address “Forecasting in the Fog”

About this meeting In this second meeting of the recently-launched NeuGroup for FP&A Heads, our leaders will engage in a members-only session to compare notes on how they can improve forecast accuracy and weigh the benefits of levering rolling forecasts. For many organizations, the onset of the global health crisis has been like a bank of fog rapidly and unexpectedly engulfing a ship at sea. Suddenly your tried-and-true navigational skills and processes and the way you have always assessed risks…
July 1, 2021

Rolling Forecasts by FP&A Gain Ground in Pandemic Despite Obstacles

The pandemic and rapid recovery underscore the benefits of more frequent forecasts by FP&A, but transitions can be messy. At a recent NeuGroup meeting for heads of FP&A teams co-sponsored by fintech OneStream Software, more than half of members surveyed said they are updating their forecasts more frequently—some using rolling forecasts—a practice prompted by the pandemic and continuing because of the rapid economic rebound. Instead of updating the standard 12-month forecast yearly, more teams now continuously update throughout the year. Most…