September 27, 2022

McKinsey: 4 Keys To Effective FP&A and How To Build A More Efficient System

McKinsey: 4 Keys To Effective FP&A and How To Build A More Efficient System

Madison V.
September 28, 2022

McKinsey & Company recently published an article outlining the best practices for building the most efficient and effective financial planning and analysis (FP&A) team possible. They explain that increasing economic uncertainties (for example, supply chain disruptions, labor shortages, etcetera) have put more pressure on traditional FP&A processes and teams, which are geared toward quarterly and annual cycles rather than real-time challenges, making it crucial for teams to increase productivity and systemize their work. 

According to McKinsey, the best way to do this is to improve execution in operations by:

  1. Emphasizing speed
  2. Relying more on data, less on intuition
  3. Developing a detailed perspective on strategy
  4. Enabling big moves

All of these things can be done with the help of Finicast. Finicast is fast and scalable, allowing you to integrate with a variety of source systems, such as Salesforce, allowing data to import seamlessly into budgets and reports, collect fresh real-time data, and compile information so you can rely on accurate data. Accurate data enables teams to make informed financial decisions and, ultimately, make substantial business moves. 

Finicast makes it easier than ever to make transformational changes. Finicast examines all of your actual data and allows you to enter variables such as market rates, business units, budgets, and other parameters to provide an accurate picture of where and how your company can grow and make pivotal decisions.

To learn more about how Finicast can help your business, contact us today.

Read the full McKinsey & Company article HERE