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Financial Planning & Analysis (FP&A) is at the heart of strategic decision-making. Yet despite advances in technology, too many teams remain bogged down in manual work — leaving little time for generating insights that really matter to the business.

According to the FP&A Trends Survey 2024, only 35% of FP&A professionals’ time is spent on high-value analysis, with the majority still consumed by data gathering and validation.

This imbalance highlights the urgent need for smarter tools. AI-driven planning and performance management platforms can automate repetitive data preparation, freeing finance teams to focus on delivering forward-looking insights.

Why Scenario Planning Can’t Wait

In today’s volatile environment, scenario planning isn’t optional — it’s critical. CFOs need to answer “what if” questions instantly:

• What if supply costs rise 10%?

• What if we lose a key customer?

• What if a recession hits next year?

Yet research shows 1 in 5 FP&A teams can’t run scenarios at all, and only 22% can model outcomes within a day — the true benchmark of agility.

AI enables teams to run multiple scenarios rapidly, with dynamic models that adjust as new data arrives. This not only improves agility but also strengthens business resilience.

Key Benefits of AI in FP&A

Adopting AI in planning, budgeting, and performance management delivers clear advantages:

• Automation of data prep → freeing time for insight and strategic work.

• Real-time scenario modelling → enabling faster, better decisions.

• Error reduction and consistency → reducing manual risk.

• Scalability → handling more data sources and complex structures without adding headcount.

Where to Start

For CFOs considering AI in their finance stack, the priority is not to “boil the ocean” but to start with practical, high-impact use cases. Automating data consolidation, enhancing forecasting accuracy, and building agile scenario models are great entry points.

The journey is about enabling finance to move from hindsight to foresight — shifting the role of FP&A from reporting to decision-making.

Final Thought

AI isn’t about replacing finance professionals; it’s about amplifying their impact. By reducing time spent on low-value tasks, finance leaders can focus on what matters most: guiding their organisations with insight, agility, and confidence.

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