When selecting the right FP&A solution for your organization, there are a few things to consider. Like any technology solution out there, selecting the right one for you takes time and a good understanding of what you are looking for.
There are a few key criteria one should consider:
- Time to implement- some implementation schedules can range from months to years. Understanding if and how a system can integrate with your current infrastructure is important in determining how long implementation should take.
- Ability to present data- Software solutions should be able to assist in data representation. For many finance professionals, dynamic financial dashboards are a critical component of software selection.
- Ease of usability- How easily can the software be used? How long will training and adoption take?
FP&A processes are essential to any and every finance department. Big data is always leveraged to get a good understanding of all numbers. To really make the best choice for your department, make sure you understand the unique needs of your team.
