Management guru Peter Drucker is often quoted as having said, “You can’t manage what you can’t measure.” Because of this, data and analytics (D&A) provide the necessary visibility required for businesses to measure and manage their performance. Measurements like KPIs (key performance indicators) drive business behavior, results and an organization’s culture. However, the most critical aspect of D&A is identifying exactly what data elements you should track.

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The Financial Planning & Analysis (FP&A) world continues to transform from what I like to call Financial Planning & Reporting (FP&R)—an emphasis on reporting—whereas FP&A emphasizes analysis. The old days of being a former accountant who crunches numbers no longer cuts it. With how quickly things change in today’s world just looking back at explaining what happened is not enough.

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A recent survey CFO.University conducted with nearly 200 global finance leaders indicated 58% estimated time savings of one hour or more each day by working from home. Another 20% claimed savings between 31-60 minutes. The vast majority of the remaining 22% were back in the office full time.

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Many leaders — even those deeply committed to the growth of others — find themselves cringing as the annual individual development planning (IDP) season approaches. And they’re not alone. Employees frequently feel a similar sense of dread as they prepare to sit down and plot out their goals, learning, and advancement trajectory yet again. With employee retention a top priority for many organizations, the time is now to shift our thinking about development.

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“One-size-fits-all” really only works…when it “fits”. Tailoring is required when buying a suit or developing your business controls. Right-sizing your controls will protect your organization.

Developing control activities for your business is no different. If they aren’t right-sized, you will be too vulnerable or too restricted to successfully grow your business.

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