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FP&A implementation, Agility, and Market Response – Where your business stands

With current world markets in a state of flux, and supply chains under immense pressure on a global scale, it’s more critical than ever to ensure that you have the capability to quickly and accurately plan and revise your forecasts, income, and expenses within your business. However, it seems that around the world, the uptake […]

Driver-Based Planning for Financial Teams: The What, Why, and How.

Host Analytics defines driver-based planning perfectly: The goal of driver-based planning is to focus business plans on the factors that are most critical to driving success, then creating mathematical models that enable managers to run scenarios based on these drivers to understand the impact on projected business results. In short, driver-based planning allows you to plan with […]

Financial and Operational Performance Management: Myths, Legends, Facts

With a solid understanding of how FPA (Financial Planning and Analytics) works from our ‘Real-Life FPM’ series, we’d like to get into the nitty-gritty of FPA, or Financial and Operational Performance Management. We’d like to look at the things that drive your business to implement an FPA solution and all the peripheral threats or promises that […]

Introduction to Real-Life FOPM: Changing your Organisational Outlook

We’ve discussed the implications, processes, and benefits of implementing a Financial and Operational Performance Management (FOPM) solution in your organisation. Once you’ve followed the implementation steps and kicked off the process, it’s important to remember that the organisation will gradually (or suddenly, in some cases) change. Automation of the planning, budgeting, forecasting, analysis and reporting […]

Real-Life FPM: Why Customer Input is Key in FPM Implementation

Our implementation process relies a great deal on customer input from the teams that will be affected by the FPM software onboarding. From the cost vs. benefit analysis through to the implementation and troubleshooting stages as seen below (click here for the full process infographic), Cortell liaises and consults with the teams involved in order […]

Real-Life FPM: The Cost vs. Benefit Checklist

We know that manual or incorrectly calibrated financial processes eat your time, and we know that an integrated and consistent reporting structure can help you to optimise your finance department’s use of their workday (and nights, in some cases). However, no matter how much we sell the solution’s benefits, the decision can only be made once […]

Real-Life FPM: The Financial Performance Management Roll-Out

How is the financial performance management implementation done? Knowing exactly what the implementation of FPM in your business entails, how it is implemented, and what changes you can expect to see in your organisation once the solution goes live will give you a better understanding of how you can prepare your organisation for the change. […]

Real-Life FPM: Investors and Human Error – Deep Impact

We’ve discussed the reasons for human error in finance departments, and how you can prevent it from a staff and data management perspective. IBM gives a succinct explanation on the importance of resolving human error in financial processes: Relating this expression to the processes owned by the finance team, the house that most often needs […]

Real-Life FPM: Your Staff, Automation, and Efficiency

Accidents happen. If you’re working with a manual financial reporting system, with little to no automation, they tend to happen a little more often. We call this human error, and it happens for a number of reasons: Multiple editors of reports, and too much constant churn of information Incorrect source data and insufficient checks Employee […]

Real-Life FPM: Examining The Raw Materials of an FPM solution

Manual processes, the changeover to automated FPM, and where the upgrade starts.   Manual processes in your financial reporting and FPM solution are associated with a number of risks:   Human error in reporting.  Impact on investor confidence if incorrect results are reported. Time-consuming re-entry of data. Slow turnaround of reporting. Reduced ability to forecast […]