Digital Transformation and FP&A Processes

On one occasion, I heard Satya Nadella (CEO of Microsoft) comment that:

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“In the current state of the world, every company is, in one way or another, a software company.”

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Personally, and Novix as a company, we share that vision.

Digital transformation, which has grown in recent years as a result of the emergence of new technologies and programming languages that facilitate access to computing power for business analysts, seems to be hopeless.

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All areas of the business, including FP&A (Financial Planning and Analysis), are being affected by this new reality that deepened after the pandemic.

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The company's strategic decision makers need to use more and more technology, leaving low value-added tasks to programs and algorithms. This phrase seems trivial, however, most companies are still following the path of digitalization and facing the typical problems of continuing to use spreadsheets:

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• A lot of manual work to load and update data.
• Files that go back and forth between areas to update scenarios and forecasts.
• Lack of dashboards and dynamic reports.
• Lack of tools to support the process.
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When this path is traveled, the time use equation will be reversed:

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There are multiple platforms and systems that support companies in this transformation.

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Deciding which platform to choose requires a thorough and calm analysis to be able to consider the different relevant aspects of that decision.

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If all companies are software companies, so should your FP&A.

‍👉 Explore Pyplan and accelerate your digital transformation.