In this insightful episode of FP&A Tomorrow, host Paul Barnhurst dives into the future of Financial Planning and Analysis (FP&A) with Dr. Liran Edelist, a seasoned expert with over 30 years of experience in finance and technology. The discussion focuses on the importance of modernization, the role of technology, and how FP&A professionals can better align their tools and processes with the needs of the business.
Dr. Liran Edelist, referred to as "The Doctor" by Paul, is a distinguished professional with a PhD in Business Administration. Originally from Israel, Liran now operates out of the Greater Boston area and has extensive experience in consulting, technology, and business leadership. With a career spanning nearly three decades, including a presidency at Jedox Americas and a role as an adjunct professor at Boston University, Liran brings a wealth of knowledge on the intersection of finance, technology, and business processes.
Expect to Learn:
- The key components that define modern FP&A and why reducing manual work is crucial.
- How to find the right balance between people, processes, and technology in FP&A.
- The importance of selecting the right FP&A tools and avoiding common pitfalls during implementation.
- Insights into the role of AI in FP&A and how it can act as an additional "pair of hands" rather than a replacement.
- The significance of having a modernization mindset and how it can lead to continuous improvement in FP&A processes.
Quotes:
Here are a few relevant quotes from the episode
- "The great FP&A is a modernized FP&A where you don't have too much manual work." - Dr. Liran
- "FP&A should be the front office of the organization, helping lead the business alongside the CEO." - Dr. Liran
- "The key to successful FP&A is balancing the right people, processes, and technology." - Dr. Liran
In this episode, Dr. Liran Edelist emphasizes the importance of modernization in FP&A, urging professionals to adopt a mindset of continuous improvement rather than relying on outdated methods. This episode underscores FP&A’s vital role as a strategic partner in guiding organizations toward a more data-driven and forward-thinking future.
Follow Dr. Liran:
Website - https://www.topit.biz/
LinkedIn - https://www.linkedin.com/in/drliranedelist/
Follow Paul:
Website - https://www.thefpandaguy.com
LinkedIn - https://www.linkedin.com/in/thefpandaguy
World-class Digital FP&A Course Bundle:
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Enroll for Financial Planning & Analysis Certificate Program:
Sign up for the 8 week online financial planning & analysis certificate program by Wharton Online and learn the art of forecasting, analysis, business partnering and financial storytelling: https://bit.ly/4debs46 Use Code: THEFPAGUY300 to save $300.
Earn Your CPE Credit
For CPE credit please go to earmarkcpe.com, listen to the episode, download the app, and answer a few questions and earn your CPE certification. To earn education credits for FPAC Certificate, take the quiz on earmark and contact Paul Barnhurst for further details.
In Today’s Episode
[01:35] - Introduction to the episode and guest, Dr. Liran
[02:57] - What defines great FP&A?
[04:24] - Critical balance between people, processes, and technology
[09:18] - Key considerations for selecting the right FP&A tools
[15:06] - Trends in FP&A technology
[23:32] - The Role of AI in FP&A
[26:00] - FP&A as the front office of organization
[28:46] - The Plan Buddies community
[33:23] - Implementing FP&A tools successfully
[45:27] - Conclusion and closing remarks
