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FinNext Recap: Three Big Takeaways for FP&A

  • By Bryan Lapidus, FP&A, Director, FP&A Practice
  • Published: 5/8/2019

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FinNext 2019 is on the books but the two-day meeting for FP&A professionals still reverberates in my mind. There were so many great insights by so many people—attendees not just speakers—that I decided to put them all down in one document to collect my thoughts.

Even if you did not attend the conference, I hope you find these helpful. And you can always attend FinNext 2020!

Off we go:

YOU CANNOT ESCAPE YOUR DATA.

  • Advanced tools won’t help you get past bad data, so until you get that right, you will be frustrated.
  • Sometimes you just have to jump in and push forward with the redesign efforts knowing that the data is bad and use that as a way to force a cleanup.
  • Data is a company-wide resource.

THE RESPONSE TO INCREASING DIGITALIZATION IS TO BE MORE HUMAN.

  • Anders Sorman-Nilsson: “The best uses of data can help us elevate ourselves and our work
  • Tricia Wang: “Big data can help you to find a needle in a haystack, but it can’t help you see the tornado coming to blow away the haystack. Breaks in trends are hard for computers, so we layer on ‘thick data.’”
  • Reb Rebele: “We can be more aware of our human needs with data; and respond by stepping away from our tech.”
  • Business partnership is the human side of delivering FP&A services, and it focuses on relationships and interactions.
  • Design thinking places the person at the center with the machines flexible enough to respond to their needs.
  • If data and technology are truly at our service, they will become easier to use; people are not panicking.

THERE IS NO EXCUSE FOR NOT UPSKILLING YOURSELF.

  • Basic tools like Excel are getting more powerful.
  • Specialized tools are getting easier to use.
  • Transformation is happening all around us.
  • If you are unsure of how to start, don’t overthink it. Just start anywhere as a small initiative and adjust as you go.

Connect with Bryan Lapidus, FP&A, on LinkedIn and via email.

The FP&A track at AFP 2019 will feature sessions on digital disruption. Register for the conference here.

Negotiation Skills for Finance and Treasury Professionals

Monday, December 16th and Wednesday, December 18th, 2019
10:00 AM - 12:00 PM ET
Attendees will learn to negotiate more effectively, prepare for negotiations more efficiently individually and as teams, and better understand the needs and interests of stakeholders and external parties.

Register Now

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