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Financial Performance Management (FPM)

The vision for Financial Performance Management focuses on the relationship between the three critical processes of the 'Office of Finance'.

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To find out more about LSA's approach and the products that we provide and support, click on any one of the stages of the Finance Cycle below:

Plan, Forecast & Control

Analyse & Optimise

Close, Consolidate & Report

LSA, using FPM software from carefully selected vendors, provide finance professionals with an integrated solution for each of these steps. This coupled with our in-depth knowledge and experience of successful implementations and training since 1995, provides you with the necessary tools and expertise to address these requirements successfully.

The Office of Finance

In the current era of volatile economic activity, finance departments are coming under intense pressure to provide ever clearer direction and insight to the business, and react to these changes quicker than ever before. Finance Directors are demanding ever more dynamic financial reporting and planning cycles in order to drive down costs, boost efficiency, and provide key insights to enable greater business performance.

PLANNING, BUDGETING, FORECASTING, REPORTING AND ANALYSIS FOR FINANCIAL PERFORMANCE MANAGEMENT (FPM)

These terms have become synonymous with the concept of FPM. They represent an overall value chain of processes, systems, and insight which drive better business performance. In the 21st century, FPM is seen as the critical business function that all successful companies are embracing as a key differentiator in the quest for competitive advantage.

An influential annual report recently delivered by IBM, interviewed over 1,500 CEO's worldwide, and identified the ability to functionally and creatively use the vast amounts of data now collected by all companies as their number one goal for their respective organisations.

However, it is the change management process that is required in order to capitalise on these objectives which most usually is the greatest barrier to companies intending to adopt FPM. Typically the following issues are identified as the obstacles to progress:

  • The perceived complexity of the task to make the changes required are viewed as overwhelming
  • Existing systems, usually heavily reliant on overwhelmingly large numbers of spreadsheets (by their very nature created using many different versions of possible scenarios) suck up so much resource to manage them, that finance departments find they are consistently time-poor to address the issues.
  • Bewildering arrays of products are promoted by an ever-increasing number of vendors, all claiming that their particular solution is the one you require. But which do you choose in order to achieve the most relevant purchase for your business ?
  • The process of choosing or implementing other complimentary business systems often fogs the issue of achieving the realisation of a FPM agenda, by introducing the often mistaken belief that the new system will somehow produce the same deliverables as a dedicated FPM policy.
  • Existing Planning systems and processes are already too long, too expensive and add too little value.

Although there may be little doubt that a FPM agenda is a key target for your business, companies most often need advice, guidance and specific skills in order to make that goal a reality.

LSA Solutions have the depth of experience and key knowledge you need

We have exactly the right level of insight and experience that you need in order to overcome issues and understand the options you have. We will guide you through the process of selecting the correct software for you purposes, implement the solution and involve ourselves with the process of educating your key team members to overcome barriers to change and create your centre of FPM excellence.  And we will show you how to realise your FPM strategy far more quickly than you thought. Our expertise is your biggest FPM asset.

In today's economy, getting by is no longer good enough. Please call us on +44 (0) 116 259 5582. Or drop us a line via our contact page.

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