Brian is Founder and Principal at Kalish Consulting. He is Former Executive Director – Global FP&A Practice at AFP. He has over 20 years of experience in Finance, FP&A, Treasury and Investor Relations. He previously held a number of treasury and finance positions with the FHLB, Washington Mutual/JP Morgan, NRUCFC, Fifth Third and Fannie Mae. He has spoken all over the world to audiences both large and small hosting FP&A Roundtable meetings in North America, Europe, Asia and soon South America. Brian attended Georgia Tech, in Atlanta, GA for his undergraduate studies in Business and the Pamplin College of Business at Virginia Tech for his graduate work. In 2014, Brian was awarded the Global Certified Corporate FP&A Professional designation.
In my first article in this series, I described the concept of dynamic planning and how it differs from the historical static way of planning. Here, I am focusing on some of the impacts of changing the planning philosophy and process.
The whole strength of the dynamic planning concept is the ability to gain insights about the organization at a frequency greater than the annual planning cycle. To gain these insights, however, there needs to be a way to access data on a company-wide basis, in real time. We need access to actuals to give us the clearest picture of the true state of the organization at anytime from anywhere.
As many of us get caught up in the intrigue and suspense created by the characters and storylines of “Game of Thrones,” it leads me to think about how annual budgets, forecasts, and plans are also full of intrigue, anticipation, and unexpected findings and results.
A lot has changed over the past 20 years in the world of planning, forecasting, and analytics. Previously, a lack of clarity into the actual performance of an organization, and the lack of raw data on a real-time basis, meant we built a greater degree of uncertainty into our models. Likewise, the ability to adapt to change in real time was clouded by this lack of data due to cost, availability, and/or timeliness. The result was impairment of our ability to effect necessary changes as events unfolded around us.
Planning is an integral part of enterprise performance management (EPM). Gartner defines EPM as “the process of monitoring performance across the enterprise with the goal of improving business performance.” Dynamic planning then aligns seamlessly into the overall EPM structure of the organization.
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