The most-common FP&A priority for 2023 is digitally transforming the finance organization, specifically standardizing and automating manual processes. Here are three main takeaways from the 2023 FP&A Profile Survey:
Advanced Analytics. The second most common FP&A priority was improving analytics capabilities through greater efficiency and deeper analysis by improving cash forecasting accuracy and developing a data analytics strategy.
Closing The Gap. Only 10% of FP&A functions in the survey are fully integrated into the business and advise on course of action. To improve performance, their peers need to address several issues.
FP&A Maturity Curve. 46% of respondents rely primarily on historical analysis and 45% spend under 30% of their time on analytics and decision support.
