The third part of the article series on IBP for Finance leaders outlines how IBP enables finance business partners to provide excellent decision support and manage performance.
Part III: Integrated Business Planning (IBP) as an enabler for finance business partnering
As leading organisations have adapted to an increasingly volatile and complex business environment, they have created new ways of working which enable them to create, execute and optimise plans to drive growth. An example of a process increasingly used by high-performing companies is Integrated Business Planning (IBP). A further development has been the execution of the finance business partner role, in which finance staff are re-deployed away from traditional management accounting to a more dynamic and broader management support function.
There is significant synergy between IBP and the finance business partnering approach in which finance specialists work closely with key business leaders at all levels in the business. This approach typically focuses on providing support to decision-making and in tracking and managing performance. IBP provides a sound foundation in process, systems, data and cross-functional dialogue to support this way of working. Its evidence-based focus, regular monthly cycle and integration between strategic and operational timelines provides an excellent toolkit to support finance business partnering.
Read how IBP is used to enable finance business partners to provide excellent decision support and manage performance: http://ow.ly/qVnf30o5Cfk
We would like to thank Neil James for his valuable contribution to this article.