How to Streamline FP&A Processes

How to Save Time in FP&A (+FREE: My top 10 infographics) 📌 𝗧𝗶𝗺𝗲 𝗦𝗶𝗻𝗸 #1: 𝗧𝗼𝗼 𝗠𝗮𝗻𝘆 𝗦𝗹𝗶𝗱𝗲𝘀 a) Focus Focus only on what matters right now. Share the rest in a spreadsheet. b) Tailor • Ask 3-4 times per year which slides leaders want to keep.    • Move the rest to the appendix, then eliminate. c) Test • Run a skip test: Move less important slides to the appendix.    • If no one asks about them, remove them.      ---   💡 Get my top 10 most popular FP&A infographics for FREE at https://lnkd.in/eihTAhTW   --- 📌  𝗧𝗶𝗺𝗲 𝗦𝗶𝗻𝗸 #2: 𝗩𝗮𝗿𝗶𝗮𝗻𝗰𝗲 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀 𝗧𝗮𝗸𝗲𝘀 𝗧𝗼𝗼 𝗟𝗼𝗻𝗴 a) Prepare • Set up spreadsheets before the close.    • Bring everything on one sheet.    • Prioritize automation. b) 80/20 • Ignore small variances.    • Consider materiality.    • Surface the story. c) Partner • FP&A finds the issue, asks the right questions and the business finds the cause and solution. • Clearly communicate expectations.   📌  𝗧𝗶𝗺𝗲 𝗦𝗶𝗻𝗸 #3: 𝗗𝗮𝘁𝗮 𝗜𝘀𝗻’𝘁 𝗖𝗹𝗲𝗮𝗻 a) Ownership • Every metric has an owner responsible for availability and accuracy.    • The owner should ideally be Data Science or IT. b) Tracking • For manually tracked metrics like headcount: Whoever is closest to the source is responsible for availability and accuracy. c) Transparency • Flag hard-to-obtain or inaccurate metrics in your Exec reports. • Visibility helps address resource constraints.   📌  𝗧𝗶𝗺𝗲 𝗦𝗶𝗻𝗸 #4: 𝗟𝗮𝘀𝘁 𝗠𝗶𝗻𝘂𝘁𝗲 𝗥𝗲𝗾𝘂𝗲𝘀𝘁𝘀 a) Shell • Create a shell before you finish the slides: include just headlines and the key message as a bullet – no formatting or charts.    • Share the shell upfront with execs asking for feedback. b) Pre-read • A pre-read can give you    •  a longer timeline because leaders need time to read it. • You combine asking for more time with providing more value. c) Drill-down • Prepare additional detail on the most important numbers, but don’t share everything on the slide to preempt questions.    • If you aren’t asked about,it upfront, speak to it during the presentation.   📌  𝗧𝗶𝗺𝗲 𝗦𝗶𝗻𝗸 #5: 𝗖𝗿𝗲𝗮𝘁𝗶𝗻𝗴 𝗦𝗹𝗶𝗱𝗲𝘀 𝗧𝗮𝗸𝗲𝘀 𝗧𝗼𝗼 𝗟𝗼𝗻𝗴 a) Format Last • #1 tip to save time in PowerPoint: wait until the content is final to apply formatting. b) Create in Excel • Tables are easier to create in Excel.    • Pasting as an image avoids formatting issues. c) Keep It Simple • The message needs to be immediately clear.    • 1-3 messages per slide max.    • A clean and consistent look beats stylistic bells and whistles because of higher clarity. -Christian About me: 🏫 I teach FP&A skills to finance teams and business leaders. 🖥️ I spent 15+ years in FP&A leadership roles at P&G, Unilever, Squarespace. 🎓 Now, I'm a full-time corporate trainer, online course creator, and the Director of the Wharton School's FP&A Certificate program. 🗣️ To learn more, visit FPAprep[dot]com or email me at hello[at]FPAprep[dot]com.

I’ve worked with some of the world’s largest companies to build annual plans. Tell me if this sounds familiar… It is month 1 or 2 of the new fiscal year – and you are already in trouble. You are in danger of missing the annual plan and aren’t entirely sure why. The next Executive Leadership or Board Meeting is already on your worry list. You’re unsure how to change the dynamic because your perspective on the business is limited. You are focused on the current month and quarter. Your plan has devolved into, “If I can make 1Q, I will figure out the rest later.” Here is a better idea. Invest in predictive models that highlight likely gaps-to-goal 12+ months into the future. Ensure the models span awareness-to-close; qualified-to-close isn’t broad enough. Devote at least 15% of leadership meetings to FUTURE quarters and leverage predictive models to drive the discussion. As you sit in month 1 or 2, use predictive models to evaluate the most likely outcomes in months 5, 6, 7, and beyond. Then, you can effectively evaluate the sales and marketing (S&M) investments that address predicted gaps. Make S&M investment decisions based on predictive models even the FP&A loves. YES, the FP&A team. I am talking about using real math! Let the math tell you where to spend–not the loudest voice in the room. The old way of closing gaps was to ask the CRO to do more. To find more. To sell more with existing resources. “Go get us a $1M deal.” The new way is to be methodical and leverage predictive modeling to drive decision-making. Try it. Looking farther into the future and taking action is way more fun than sticking your head into the ground.

Want to automate your finance and accounting? It all starts with formatting and uniform data structures, not AI. AI agents need context just like humans. If everything in your Accounting and FP&A workflows are mismatched, how do you expect an AI agent to understand what is what? Here is some low handing fruit that you can tackle in your F&A function today: 1) Uniform Chart of Accounts across your accounting system (and subsidiaries) and financial model 2) Uniform department names and other dimensions across your accounting system and financial model 3) Ensure naming conventions for departments and teams are identical across all pre-accounting systems (e.g., CRM, HRIS, Payroll, Spend Management, etc.) 4) Define Parent-Child relationships for Customers in all of your systems. Assign customer numbers. 5) Setup a SKU master list and make everyone stick to it across accounting, sales, etc. Identify which items are software, services, and usage and also identify which items are recurring vs. non-recurring. 6) Assign employee numbers and use them across all relevant systems. Ensure names, titles, etc. are spelled the same. 7) Ensure all spend in your accounting system is assigned to a vendor and all the appropriate tags (e.g., department) not just GL code. Before you try automating a million things, ask yourself whether you can do simple VLOOKUPs across your data sets. If you can't, you need to focus more on data hygiene than on automation. #SaaS #Finance #Bootstrapping #Startups #Accounting

Less is more when it comes to FP&A. Apply the 80/20 principle: 1. Focus variance analysis on what matters most. We all want to provide a thorough explanation for variances, but the reality is that 20% of items usually explain 80% of variances. Don't waste time analyzing every minor line item; zero in on the true drivers of financial performance. 2. Present only the key metrics. When sharing financials with leadership, it's tempting to show all the numbers you analyzed. But too much information distracts from the core message. Identify the 2–3 most important metrics that tell the story you want to convey. 3. Tell one or two compelling stories with your data. Great storytellers know that ten brief points won't stick, but one or two well-crafted narratives can inspire action. Focus your FP&A storytelling on the most urgent issues to rally stakeholders. 4. Simplify forecasting through automation. You'll never achieve 100% accuracy, so focus on the level of detail needed versus spending countless hours manually updating forecasts. Leverage tools like Jirav, or others, to speed up your processes through integration, templates, and automation. The common theme? Prioritize. Master analysis and communication to see the greatest impact. 🦒