Any crisis, whether worldwide or impacting a single organization, tests an executive team’s ability to seize a fleeting opportunity, address an existential problem or mitigate future risks. Global turmoil highlights the need for the financial planning and analysis (FP&A) group to quickly deliver action-oriented advice and analysis that enables executives and managers to confidently make data-driven decisions. To do so, many FP&A groups will find that using the right technology will enable them to streamline time-consuming tasks so they can concentrate on analysis and planning that supports actionable decision making.
Organizations must confront three critical deficiencies to improve their responsiveness to swiftly changing external conditions: