FP&A Today A new roadmap for FP&A – with Jack Alexander
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Jan 16, 2024 Guest Jack Alexander, author of Financial Management: Partner in Driving Performance and Value, discusses post-pandemic practical approaches to performance management, planning, forecasting, business valuation, mergers, acquisitions, and capital investment. He emphasizes the need for FP&A to consider external forces like hyperinflation and geopolitical events. Jack also shares his journey to becoming a CFO and highlights the importance of attitude and understanding job value in the FP&A profession.
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Budgeting Disaster to Success
- Jack Alexander's first budgeting experience was a disaster with inconsistent numbers and a $10 million loss instead of profit.
- They transformed it into an operating plan with guardrails and rolling forecasts, cutting the cycle time in half.
Hire for Attitude, Not Software
- Hire FP&A professionals for attitude over software experience because technology changes rapidly.
- Focus on learning ability, motivation, and teamwork rather than mastery of many applications.
Expanded FP&A Scope Needed
- The new book expands FP&A topics to include strategic planning, value creation, human capital, and external environment analysis.
- FP&A must go beyond internal numbers and embrace broader roles to survive and add value.