Financial Planning & Analysis (FP&A) procedures are integral for managing all operations and strategic functions such as business planning, management, and organizational administration. The FP&A process supports one of the most critical management functions – finances, which is a key element for any organization’s growth. So, let us understand in-depth, the Financial Planning and Analysis process. 

What is Financial Planning and Analysis (FP&A) Process? 

In the simplest terms, Financial Planning and Analysis (FP&A) process is the coming together of an organization’s finance and corporate functions. It encompasses all management procedures for coordination within the finance department and the cross-point between finance and divisional services. 

One of FP&A’s most critical objectives is to preserve the organization’s liquidity capabilities - the organization’s ability to meet all payment obligations. Some of the primary instruments of Financial Planning and Analysis (FP&A) process include: 

• Financial Planning 

• Financial Budgeting 

• Financial Forecasting  

• Financial Consolidation 

Our FP&A services at TRC Corporate Consulting enable you with detailed group reports, prompt financial statements, and complete financial control. Besides helping you with liquidity maintenance and profit maximization. Increasing stakeholder value is another critical objective of our financial planning and analysis experts. Subsequently, our FP&A professionals manage the organization’s financial resources in such a way that performance investments increase in profit values. 

How Do We begin With the Financial Planning & Analysis Process? 

At TRC Corporate Consulting, our FP&A services approach begins with financial planning, as it is fundamental to any organization’s success. Our expert professionals draw up a precisely detailed plan based on the organization’s financial goals, enable the controller to apprehend, evaluate, and develop and improve all the organization’s critical financial aspects. 

Our Financial Planning and Analysis services also include assessing any present or existing situations and similar past situations.  After an analysis of the present case, controllers compare and match it to the target situation that is based on certain specific financial goals, and thus we move to the third phase of the FP&A process – financial forecasting.  

Based on the in-depth analysis and forecasts, FP&A develops financial planning for the organization’s future revenues and expenses. All ideas and findings derived by our experts are then recorded in financial documents. 

How Can Financial Planning and Analysis Solve The Current Challenges? 

Almost all business models and markets have faced the impact of digital disruption, which is perceptible in organizations of every size and type. Thus, identification is required to drive forward new-initiatives that support the financial goals of the organization.  

Organizations that don’t employ enterprise performance management services, don’t reap the benefits of comprehensive performance reviews. With TRC Corporate Consulting, you get our experts’ support and guidance for preparing spreadsheets related to budgeting, forecasting, modeling, and reporting tasks.  

When you avail of our FP&A services, you don’t need to spend huge portions of your valuable time to create budgets and forecasts, as our experts support you with the same. Additionally, our Financial Planning and Analysis experts also enable you with value-added activities to facilitate improved decision-making based on data-backed findings and improved financial strategies. 

Benefits of Enterprise Performance Management in the FP&A Process 

Enterprise Performance Management (EPM), also known as Corporate Performance Management (CPM), makes for the central management task in an organization, which summarizes the methodical, strategy-oriented management of business performance.  

The EPM process in Financial Planning and Analysis procedure consists of all techniques and methods required to handle an organization’s functions such as planning, budgeting, forecasting, reporting, and analysis.  

Benefits of Hiring TRC Corporate Consulting For FP&A process 

• Controllers play a major role in the financial planning process 

• Requires less support and training as compared to developing in-house finance teams 

• Controllers can create more accurate forecasts 

• Uncertainty is reduced across the entire process 

Our Experts Help Save Time and Establish Added Value Through 

• Deviation Analysis 

• Rolling Forecast Productions 

• Cash-Flow Modelling 

• Knowledge Pool Affecting Financial Performance 

Adapting to businesses’ ever-changing finance landscape, you must consider hiring experts who can enable innovation, agility, and growth for your organization by implementing the appropriate FP&A process and give suggestions for Financial Planning And Analysis Tools, assessments, recommendations, and support. 

TRC Corporate Consulting’s Simplified Approach For FP&A Process 

At TRC Corporate Consulting, we follow a simplified approach for handling Financial Planning and Analysis related services. It has the following steps: 

Step 1: Understanding FP&A report objectives 

Step 2: Mapping team’s Financial Planning and Analysis’ reporting process 

Step 3: Collecting and regularizing data 

Step 4: Organizing data and information 

Step 5: Collaborating in real-time 

Step 6: Reviewing, approvals, and sign-off of plans 

Step 7: Formulate final reports  

Step 8: Leverage extensive experience to improve the FP&A process 

Step 9: Apply custom Financial Planning and Analysis framework as per business requirements 

When you opt for our expert Financial Planning and Analysis services, you benefit from the extensive experience and expertise that our professionals bring with them. We aim first to understand your business’s distinctive financial landscape, including payroll, AP/AR, M & A, and basic financial tasks, and only then proceed with developing any plans, or deliver suggestions including Financial Planning and Analysis tools, processes and techniques. 

Our FP&A Process Activities Fall Under These Five Categories 

Planning: Our first financial task includes strategic proposals as it drives the planning functions of the business. 

Budgeting: Our financial analysts handle, support, and monitor business expenses regularly. 

Forecasting: Our professionals help formulate predictions for financial performance based on multiple market variables such as inflation, foreign exchange, and economic growth. Business forecasts are critical inputs into both budgets and strategic plans. 

Management Reporting: Formulation and updating critical management reports. 

Decision Support and Controls: While there is no list of tasks that can systematically define decision-making functions, it generally depends on the financial analysis for guidance such as M&A analysis, activity-based costing, and auxiliary financial modeling. 

At TRC, we believe you to be more than just our clients. We partner with firms to deliver a wide range of services, including the FP&A, M&A, financial advisory, taxation advisory, and GRC services. For more understanding of our Financial Planning and Analysis process or our advisory services, contact us!