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The Finance Mission—A Good Time for Reflection

As we head into the last quarter of the business year, financial analysts are surely keen to see how useful their forays into data analytics will look when the final buzzer goes off. Have these efforts to buoy business performance paid off? What are CFOs planning to do to balance investments in new analytical strength with the imperative to control the finance budget? These are just two examples of the professional soul-searching now underway among finance leaders.

If some conversation-starters are in order, APQC can help. A recent focus for our financial management (FM) research team has been on advances in financial planning and analysis (FP&A). For example, one recent case study revealed how a senior finance executive had introduced a tool to measure periodic improvement (or backsliding) in business pipeline forecast accuracy. The nature of his particular business model dictated this measurement’s value. For details, see Finance Transformation in 2016 - Report Overview

The FM research team also just rolled out Blueprint for Success: Planning and Management Accounting.  This guide shows how to use APQC’s Process Classification Framework® (PCF) in conjunction with our Open Standards Benchmarking® in planning and management accounting. This report also offers perspectives on 10 key performance metrics that shed light on process efficiency and effectiveness, the latter aiming at FPA’s role in enabling business performance outcomes.

Before the year-end accounting consolidations weigh everyone down, take a moment to step back and think about all that finance can really be.