Our News

July 2017

The Top 7 Financial Planning and Analysis Trends of 2017

Jan Morath and Håkan Ebersjö, CEO & VP of Sales for Performance Canvas respectively, joined earlier this year a global customer conference in Nashville, Tennessee to introduce pcFinancials to the thousands of accountants, finance managers, and CFOs in attendance.

During the conference, key decision makers in many medium to large sized companies were interviewed in an attempt to find out more about their wants and needs. The interviews identified problems brought about by the use of excel for financial planning and analysis, which hold back finance departments from being able to see the bigger picture and from being ahead of their competitors at a time of so much volatility and economic uncertainty.

Yet, all people discussed pointed out that the last 5 years saw significant changes in the way finance departments viewed, executed, and used financial planning and analysis outputs, especially considering their expanding role in the organization.
Many finance departments certainly want to move past their challenges in financial planning in order to produce more value added outputs. Hence, they identified the following key Financial Planning and Analysis Trends for 2017:

1. Integration of Strategic and Operational Plans
2. Predictive Planning
3. Mobile Planning
4. Value driver-based planning
5. Self-service planning in different business units
6. Integration of sub budgets in Financial Planning
7. Planning in the Cloud

Integration of Strategic and operational plans along with predictive planning and value driver-based planning expose the desire of many finance departments to continue to mature in their planning and analysis.

In addition, in 2016, we saw an increase in people moving to the cloud. This year and in the next 5 years, we will continue to see significant investments in moving financial planning and analysis to the cloud as more and more vendors invest in improving cloud capabilities. Needless to say, CPM vendors want to be up to speed with the latest important financial planning trends so they can provide more advanced functionalities in answer to the wants and needs of the customers.

The problems of inefficient collaboration, lack of transparency and accountability, decreased productivity, and lack of good insights are being tackled head on by many Corporate Performance Management (CPM) solutions like Performance Canvas.

Contact us today and book a demo!