Rethinking FP&A: From Data Chasing to Decision Making
FP&A teams often spend a significant amount of time managing data rather than generating insights. To improve decision-making, finance leaders should focus on redesigning data flows rather than just improving data quality. Key actions include reverse engineering decisions to inform analytics, building reusable data products, and investing in a semantic layer for consistent metrics. By implementing these strategies, FP&A can shift from merely guiding decisions to actively architecting them, enhancing overall efficiency and effectiveness in financial planning and analysis.