Trends in the evolution of FP&A

Insights & Actions for Strategic FP&A

Trends in the evolution of FP&A

Prophix produced a report titled, FP&A Empowerment: The Evolution of Technology & Trends, in partnership with 360 Thought Leadership Consulting. We surveyed over 300 organizations to identify trends in the evolution of FP&A. Our primary concern was how finance departments can position themselves to support the increasingly strategic, customer-centric and disruptive roles their executives and organizations are taking on. We identified seven insights and actions that you can apply to your own company:

Insight: Companies are immature relative to FP&A analytics
Action: Invest in people, systems, models and flexible processes that will support the transformation of FP&A infrastructure

Insight: FP&A teams aspire to be more strategic
Action: Limit the time spent on low-value activities such as data validation and shift the FP&A focus to high-value activities like operational planning

Insight: Companies invest time on the wrong FP&A activities
Action: Research leading-edge technology, such as Corporate Performance Management (CPM) software, that can replace lagging back-office systems

Insight: Companies face a shortage of the right data
Action: Establish a single source of data ‘truth’ accessible to everyone in your organization, not just the Office of Finance

Insight: FP&A success is inhibited by technological immaturity
Action: Supply your Office of Finance with advanced reporting and analytical tools to support scenario analysis and data-driven decision making

Insight: Perceptions are inhibiting company investments in FP&A
Action: Understand the strategic value that an empowered finance team can offer to your organization

Insight: FP&A leaders want better data, better technology, more accountability
Action: Make your Office of Finance accountable while also allowing them to upgrade technology and systems

To learn more about the steps needed to transform your FP&A, download our report.


Your business is evolving. And the way you plan and report on your business should evolve too. Prophix helps mid-market companies achieve their goals more successfully with innovative, cloud-based Corporate Performance Management (CPM) software. With Prophix, finance leaders improve profitability and minimize risk by automating budgeting, forecasting and reporting and puts the focus back on what matters most – uncovering business opportunities. Prophix supports your future with AI innovation that flexes to meet your strategic realities, today and tomorrow. Over 1,500 global companies rely on Prophix to transform the way they work.