Planning is a critical component of sound financial management. It involves the process of allocating resources, setting financial goals, and tracking progress toward those goals. Effective planning techniques enable finance professionals to make informed decisions, manage cash flow effectively, and achieve financial success. In this article, we will explore five planning techniques that have proven to be successful in various companies. I will highlight the benefits of each technique and provide actionable tips for finance professionals to enhance their planning processes.

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Financial Planning and Analysis (FP&A) plays a crucial role in driving the financial health and success of an organization. To effectively manage and guide their company’s financial strategy, finance leaders must have a comprehensive understanding of key performance indicators (KPIs). These KPIs provide valuable insights into an organization’s financial performance, helping finance leaders make informed decisions and drive growth.

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As the CFO role evolves and expands, holders of the position are being required to have more impact on their organizations.

The role is moving toward more proactive leadership. This shift is moving CFOs
• from Facts Only to Future focused
• from Cost reducer to Value creator and
• from a Compliance mentality to a Strategic mindset

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Spreadsheets serve a wide range of utility which is evident from their ubiquitous presence in any organisation. Given their general purpose nature, they are used in different departments ranging from sales, marketing, HR, finance and operations. However, lately with the advent of multiple payment options, payment gateways and associated infrastructure, spreadsheets are falling short in serving the needs of finance operations.

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Many business owners, CEOs and CFOs don’t engage in a formal business valuation exercise because they ‘think’ they know the value of their business. That can be a dangerous assumption.

The following are examples of when business leaders typically engage in a valuation exercise.

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