FP&A Upgraded: Modernize Financial Planning with Our New Guide

Prophix Jan 24, 2022, 3:25:00 AM

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Everything old is new again. From high-waisted jeans to mid-century furniture to blockbuster adaptations of ‘80s cartoons, nostalgia is big business. But that doesn’t mean your actual business should embrace all things retro.

If your FP&A process is still highly manual — if it involves hours spent on spreadsheets, for example — you’re not alone. Our recent survey found that Finance professionals spend only 20% of their time on highly valuable activities, with the other 80% tied up in outdated, manual processes.

It’s high time to bring FP&A into the 21st century. To help Finance leaders with the journey, we created a new interactive guide:FP&A Upgraded.

View it below or click here for the full screen experience.

View the full experience here

FP&A Upgraded: How to Modernize Your Corporate Financial Planning

This colorful, interactive, completely ungated guide features expert advice on how to get the mindset, skill set, and tool set for modern FP&A. It features tips and tactics from the Prophix team and a wide range of Finance experts:

• Alok Ajmera, CEO, Prophix
• Dawn Brolin, CEO, Powerful Accounting, Inc
• Tom Hood, EVP Business Engagement & Growth, AICPA
• Robert Kugel, Senior VP/Research Director, Ventana Research
• Gabrielle Luoma, CEO, MOD Ventures, LLC
• Samantha Mansfield, Founder, Samantha Mansfield LLC, Speaker & Consultant
• Jack McCullough, President, CFO Leadership Council
• Stephen J. McLain III, Business Consultant/Host of the Finance Leader Podcast
• Richard Pototsky, President, Miami-CFO
• Janet Schijns, CEO, JS Group
• Donny Shimamoto, Managing Director, IntrapriseTechKnowlogie

Get the Right Mindset

In business, any major change starts with a change of mind. It’s not as simple as buying and deploying a solution — without a cultural upgrade as well, that shiny new tech will go underused. Developing the mindset means making the case to the executive team, the IT department, and your own Finance team.

Our experts explore how to demonstrate the value of FP&A to the executive team, how to take a leadership role with IT, and even how to adjust your own mindset to lead the charge.

Round Out Your Skill Set

Modern FP&A has its own unique set of skills. While automation makes some of the old-fashioned number crunching obsolete, there are new opportunities in data science, analytics, and AI.

In the skill set section, our experts outline the essential skills to cultivate, train, and hire in your Finance team. And it’s not just about mastering data — soft skills like critical thinking and storytelling are just as important.

Complete Your Tool Set

The right tool for the job makes all the difference in FP&A. Modern FP&A solutions help improve data quality, have the capacity for advanced analytics, and make it easier to create and share reports.

Our experts explore how machine learning, AI, and advanced analytics come together in a Corporate Performance Management (CPM) platform built for next-level FP&A.

Break Free from Retro FP&A

We can admit that high-waisted jeans do look stylish on some people. And yes, mid-century furniture is beautiful, and Rubik’s cubes and 8-bit videogames are good fun. But when it comes to FP&A, newer is better.

For faster, more efficient, and more accurate FP&A, we need to ditch the nostalgia and bring Finance into the 2020s. Our guide can help.

Check out FP&A Upgraded: How to Modernize Your Corporate Financial Planning guide to get started.

Prophix

Ambitious finance leaders engage with Prophix to drive progress and do their best work. Leveraging Prophix One, a Financial Performance Platform, to improve the speed and accuracy of decision-making within a harmonized user experience, global finance teams are empowered to step into the next generation of finance with no reservation. 

 Crush complexity, reduce uncertainty, and illuminate data with access to best-in-class automated insights and planning, budgeting, forecasting, reporting, and consolidation functionalities. Prophix is a private company, backed by Hg Capital, a leading investor in software and services businesses. More than 3,000 active customers across the globe rely on Prophix to achieve organizational success.

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