xP&A

What is xP&A?

As an emerging trend first identified by Gartner, extended Planning and Analysis (xP&A) represents an extension of FP&A principles beyond finance and into other areas of the business, such as supply chain, marketing, workforce, sales, and IT. xP&A is the future of enterprise planning as it can transform both financial and operational planning and improve a company's bottom line by integrating data, plans, forecasts, and business units on a single planning platform.

xP&A typically involves three key planning processes: strategic planning; business planning, and forecasting; and operation planning and forecasting. It enables business leaders to consolidate forecasts and performance metrics from across the entire organization. You can integrate information from various departments and business units into a comprehensive view of the business, and in turn, drive better decisions.

By embracing xP&A, organizations will see greater performance improvements compared with traditional FP&A processes. This is enabled through combining strategic planning, FP&A, and operational planning and forecasting. It is also about top-down and bottom-up and cross-functional integration. With xP&A, business leaders can forecast, monitor, and evaluate more effectively as they can view all facets of the problem and the proposed solution.

Data from xP&A can subsequently feed into the various reports that drive organizational intelligence, including traditional financial statements. When teams consolidate all information from across the organization into one place, managers can understand the company's performance in terms that align with their priorities, understanding the health of the business as a whole.

With FP&A professionals playing a key role in modernizing and transforming the Office of Finance, FP&A strategies will now need to encompass the integration of financial management and operational planning activities. Forward-looking FP&A teams have started to transform digitally by automating planning processes, creating cross-functional collaboration, and incorporating predictive, machine learning (ML), and artificial intelligence (AI) into their planning processes.

xP&A also enables Finance to be more of a strategic partner to the organization by providing a framework that enables an all-encompassing view of the organization, from performance to assets, resources to risks, and beyond. Building strategic plans with a view of the whole organization enable you to identify new growth opportunities and optimize spending.

Curious as to how to start your journey into the new era of FP&A with xP&A? MindStream can help.

MindStream Analytics is a premier advisory and managed services provider. We help organizations acquire, implement, and manage strategic finance solutions designed to grow your business by bringing people, processes, and information together. Our team is made up of business and technical experts with years of experience with Oracle Hyperion, OneStream, NetSuite, and other major technology vendors.

We know that to excel in today's competitive environment, companies must have analytical insight across their organization for a clearer view of corporate-wide performance. We believe the power of technology, combined with best practices and access to relevant information, helps companies gain a competitive advantage by simplifying financial processes and align financial goals with operational plans.

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