FP&A Is Falling Short of CFO Expectations
CFOs have been transforming FP&A for years, but most still give their FP&A teams low marks for delivering services that contribute to the company’s business strategy or value-added analysis. AFP’s President and CEO Jim Kaitz and Bain & Company experts, Michael Heric, Steve Beam, and Anup Juneja discuss their experience of working with CFOs across industries and geographies to highlight five key imperatives for improvement:
- Lack of alignment or buy-in among business leaders
- Sticking with the traditional approach to the FP&A organization
- Inability to address critical gaps in skills
- Inability to adopt or scale up new ways of working
- Inadequate technology and data
- Implement practical actions that will help the FP&A (CFO) function become the stewards of value creation, not just scorekeepers.
- Better understand the CFO's role in effectively engaging in the business strategy process.
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Jim KaitzPresident and CEOAFP
Michael HericSenior Partner, Global Finance Transformation Solution LeaderBain & Company
Steve BeamExpert Partner, Finance & Digital TransformationBain & Company
Anup JunejaPrincipalBain & Company