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Learn the answers to the most frequently asked questions about FP&A


What does the acronym FP&A mean?

FP&A stands for "Financial Planning and Analysis". FP&A is a field related to financial planning and analysis of financial data in order to ensure compliance of the company's activities with strategic goals and optimization of financial results. FP&A deals with budgeting, forecasting, financial reporting, and financial and business analysis, as well as supporting the board's and managers' decision-making processes.

What technologies are used in FP&A?

FP&A uses various tools and technologies, such as spreadsheets, data analysis software, data visualization, and artificial intelligence. The most advanced systems are CPM class systems, i.e. in the area of company performance management.

What are Corporate Performance Management systems?

Corporate Performance Management (CPM) systems are integrated software that helps companies plan, budget, forecast, report, analyze and manage their performance to achieve strategic business goals. CPM ensures data consistency and transparency and allows you to make better decisions based on facts.

What is the difference between CPM systems and ERP systems?

Corporate Performance Management (CPM) systems and Enterprise Resource Planning (ERP) systems are two different types of business software.

What is financial analysis and how it improves the processes related to its digitization?

Financial analysis is the process of evaluating a company's financial health based on financial data such as balance sheets, income statements, and cash flows. The purpose of financial analysis is to evaluate a company's financial situation, identify strengths and weaknesses, and make business decisions based on this information.

Digitizing the processes related to financial analysis can speed up and facilitate this process so that financial analysis can become more accurate and effective.

What does the FPM and EPM mean and how do they differ from CPM systems?

FPM stands for Financial Performance Management and EPM stands for Enterprise Performance Management. Both terms refer to similar concepts to CPM, however, there are some subtle differences between the two.

How long does it take to implement CPM systems in a company?

The time to implement CPM (Corporate Performance Management) systems in a company can vary significantly and depends on many factors, such as the size and complexity of the organization, the amount of data to be transferred, the type of modules to be implemented, the availability of human and financial resources and the degree of adaptation to company needs.

What role does management accounting play in managing the performance of a company?

Management accounting plays a key role in managing a company's performance. It allows you to monitor and analyze financial data from a management perspective and thus helps you make data-driven business decisions. Below are some ways in which management accounting can affect business performance:

What areas in the company can be supported by CPM systems?

CPM (Corporate Performance Management) systems can support many areas in the company, including: