FP&A Trends Survey 2021
Recently, SAP published the FP&A Trends Survey 2021. This report presents findings from the survey on Planning and Forecasting in times of high uncertainty.
The FP&A Trends Survey was conducted in March – April 2021 during the covid pandemic and thus provides a good illustration of how the uncertainties of this situation affect organizations.
From the FP&A Trends Survey, one thing clearly emerged: Organizations that rely on traditional planning approaches, with the control mechanism of an annual budget, were being challenged; according to the report.
Economic fluctuations sometimes require immediate action. This Survey also shows that there are organizations that are hampered in this by the tools they use. (You can also find more information on this topic in our webinar Cash Flow Forecasting & Liquidity Planning).
One of the key findings from the survey is that: 12,5% of the organizations are able to spend more than 40% of their time on high value activities. Thus, in 7 out of 8 companies, controllers spend more than 60% of their time collecting and validating data rather than on medium or high value activities, such as generating information/insight and driving actions.
Wondering how you can spend more time on high value activities yourself? Make an appointment with one of our experts for a free inspiration session.
Download the entire report and learn more about the latest trends in FP&A.