The noise around FPM has continued to increase as the office of finance has been tasked with executing core processes quicker and more efficiently, automating external financial reporting, guiding profitability management efforts and providing more value-added analysis.
There are numerous definitions of FPM that make it sound a complex concept. In simple terms FPM is the collective core finance processes of financial close and consolidate, budget / plan / forecast, report and analyse and the subsequent delivery and disclosure of information to internal and external consumers.
The primary purpose of FPM is to compare actual results to budgets or forecasts and make adjustments to reach specific financial goals. This is a constant process of adjustment, which is a necessary response to changing conditions and circumstances.
Our vision of FPM covers the integrated delivery of these core financial processes.