FinNext 2019 is on the books but the two-day meeting for FP&A professionals still reverberates in my mind. There were so many great insights by so many people—attendees not just speakers—that I decided to put them all down in one document to collect my thoughts.
Even if you did not attend the conference, I hope you find these helpful. And you can always attend FinNext 2020!
Off we go:
YOU CANNOT ESCAPE YOUR DATA.
- Advanced tools won’t help you get past bad data, so until you get that right, you will be frustrated.
- Sometimes you just have to jump in and push forward with the redesign efforts knowing that the data is bad and use that as a way to force a cleanup.
- Data is a company-wide resource.
THE RESPONSE TO INCREASING DIGITALIZATION IS TO BE MORE HUMAN.
- Anders Sorman-Nilsson: “The best uses of data can help us elevate ourselves and our work
- Tricia Wang: “Big data can help you to find a needle in a haystack, but it can’t help you see the tornado coming to blow away the haystack. Breaks in trends are hard for computers, so we layer on ‘thick data.’”
- Reb Rebele: “We can be more aware of our human needs with data; and respond by stepping away from our tech.”
- Business partnership is the human side of delivering FP&A services, and it focuses on relationships and interactions.
- Design thinking places the person at the center with the machines flexible enough to respond to their needs.
- If data and technology are truly at our service, they will become easier to use; people are not panicking.
THERE IS NO EXCUSE FOR NOT UPSKILLING YOURSELF.
- Basic tools like Excel are getting more powerful.
- Specialized tools are getting easier to use.
- Transformation is happening all around us.
- If you are unsure of how to start, don’t overthink it. Just start anywhere as a small initiative and adjust as you go.
Connect with Bryan Lapidus, FP&A, on LinkedIn and via email.
The FP&A track at AFP 2019 will feature sessions on digital disruption. Register for the conference here.