Digital Innovation for Financial Planning & Analysis
Streamline, automate and enhance tedious financial processes like consolidation, reconciliation, reporting, planning and analytics using modern digital solutions.
Digital Innovation for Financial Planning & Analysis
In today's fast-paced business environment, organizations need real-time financial planning and performance management solutions to stay ahead of the curve. Baker Tilly's digital consulting solutions offer a comprehensive suite of financial planning and analysis (FP&A) and financial performance management (FPM) services designed to help businesses optimize their financial processes enhance decision-making and achieve sustainable growth. Leveraging our knowledge and state-of-the-art tools, we deliver tailored solutions to meet your unique requirements.
Assessment approach
Assess
Examine current processes and capabilities
Identify
Target future state capabilities and optimization
Prioritize
Determine and prioritize solutions
Execute
Develop, plan, and execute solutions toward improvement
FP&A services
Document current state across your FP&A activities and develop a finance transformation road map to build best in class processes, tools, and teams.
Baker Tilly can help gather requirements, identify potential solutions, draft a request for proposal (RFP), evaluate vendor responses, facilitate demos and assist in the final selection of FP&A and business intelligence (BI) solutions.
Evaluate, implement and optimize the right FP&A tools for your organization.
Build real time reporting capabilities and interactive business intelligence dashboards for strategic insights and execution.
Utilize data science techniques and machine learning to enhance plan accuracy, automate forecasting and predict other future trends and outcomes.
Identify the right KPIs and metrics that align to your business model and drive performance by setting achievable reach targets.
FP&A assessments
Baker Tilly’s FP&A assessments are thorough evaluations that can be customized to address an organization’s specific processes and challenges. Our assessments focus on key areas such as:
We help streamline and enhance your planning cycle, ensuring efficiency and accuracy. Improve your budget policies, procedures, guiding principles and other documentation to improve communication across budget stakeholders.
Assist in developing robust plans, deploying the right budget methods, aligning assumptions across budget inputs and building up to accurate organization-wide budgets and forecasts.
Align your strategic objectives with your budgeting process and evaluate the return on investment.
Our specialists guide you through plan approval and execution while continuously monitoring performance and adjusting forecasts.
Analyze your current set of reports and dashboards for gaps and ensure they provide the right guidance and key takeaways.
FP&A solutions should align to your processes and enable efficient and accurate planning processes and reporting.
Selecting the right FP&A software tailored to your business needs is crucial for steering your organization's financial health towards success. Baker Tilly's fit-gap analysis methodology ensures a structured approach evaluating your organization's current processes, systems and capabilities against your organization's desired outcomes. Baker Tilly's methodology identifies the gaps that hinder your financial performance and efficiency.
Automating your internal and external management reporting packages is essential to driving data-informed decisions. Our services include:
- Business intelligence dashboards: Identify key metrics for your organization to support strategic insights and execution of business decisions.
- Management reporting packages: Automate real-time internal and external reporting packages for compliance and performance monitoring.
- Ad hoc reporting capabilities: Mobilize on-the-fly ad hoc reporting to gain relevant insights and make informed decisions, quickly.
- Drill-through reporting: Enhance your organization’s decision making and contextual analysis with drill-through reporting from summary to transactional detail.
- Compliance and governance: Establish workflows and approval phase processes for streamlined compliance and accurate reporting.
Mobilizing predictive analytics and machine learning (ML) is essential to making informed decisions in ever-changing business conditions. Our services include:
- Predictive planning and ML integration: Close the gap in your organization’s planning and forecasting using historical and sophisticated driver methods to produce adaptive, ML-based forecasts.
- Scenario analysis: Perform what-if analyses using integrated models to make informed predictions and data-driven decisions.
Choosing the right key performance indicators (KPIs) is essential for measuring and driving performance. Our services include:
- Business model review: Identify key business drivers and sub-drivers.
- Leading and lagging indicators: Determine the indicators that best predict future performance and review past results.
- Statistical correlation: Evaluate the significance of existing and proposed indicators.
- Effective stretch targets: Set realistic and challenging targets that align with your organizational goals.
- Cascade targets: Ensure targets are aligned throughout the organization
Selecting the right FP&A software tailored to your business needs is crucial for steering your organization's financial health towards success. Baker Tilly's fit-gap analysis methodology ensures a structured approach evaluating your organization's current processes, systems and capabilities against your organization's desired outcomes. Baker Tilly's methodology identifies the gaps that hinder your financial performance and efficiency. Our services include:
- Evaluate requirements and current state processes
- Identify and analyze gaps
- Analyze all viable software solutions
- Ensure compliance and security requirements
- Cost analysis
- Informative demonstrations
- Vendor reputation and support
- Implementation and action plans
Understand where you are today and identify the gains from modernizing your technology platform. Our services include:
- Assessments, implementations and optimizations: Ensure the selected software meets your unique requirements and optimizes your financial processes.
- Identify the right software: Choose the best financial performance management software for your organization.
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