Financial Planning & Analysis (FP&A) is a set of planning and budgeting analytical activities that support an organization’s major business decisions. It connects a business’ plans, people, and data across all business functions.
Financial Planning & Analysis is an integral part of any organization that helps leaders make decisions about the future, based on analysis of the data. Companies simply can’t make good decisions without information. FP&A allows executives and business leaders to have the best insights for the best decisions.
While Accounting departments looks at historical numbers, FP&A focuses on forecasts and future numbers. This method allows companies to leverage their data to reduce waste and grow profitability.
In today’s marketplace, there’s little room for error. Which makes it that much more important for every department within an organization to be looking at the same data from the same source and in the same way. This allows leadership, planning committees, and cross-functional teams to have a shared view of their KPIs (Key Performance Indicators), spending less time reconciling performance and more time minimizing risk and driving profitability.
Successful business leaders have recognized the importance of taking a new approach to their finance data – one that triggers immediate action based on real-time information. It’s a shift from making decisions looking in a rearview mirror, to driving forward with clear data analytics.
As you begin searching for the best solution for your team, it’s important to thoroughly research more than just the features/capabilities of any technology solution. While those are necessary points to consider, you should also research the following:
Leading technology FP&A solutions, like Synoptix, give companies a competitive advantage and can be the difference-maker between success and failure.
Download Spreadsheets-The Corporate Secret Killer & What to Do About It to better understand its inherent errors, how to manage quality control & overconfidence, with detailed solutions on improving spreadsheets in financial reporting.
THOUGHT LEADERSHIP WHITEPAPER
We want to provide you with an update on the Log4J vulnerability that was identified this weekend as it relates to your Synoptix installation. The short answer is that there should be no vulnerability issues with Synoptix. Synoptix no longer uses Log4J. Version 7 did use version 1.2 of Log4J (which was not vulnerable), and should therefore also be clear of any vulnerability issues related to Log4J version 2.0-2.14 (which was identified this weekend as having vulnerability).