FP&A's AI problem, again, is the data underneath it
Finance teams are stretched, their data isn't ready, and the tools they're being handed can't do their best work in the environment they're being asked to run in.
In an FP&A Circle webinar this week hosted by the FP&A Trends Group, three panelists from SquareTrade, Neo4j and sponsor Planful, looked at the challenges under the surface from different areas of expertise.
Facilitator Hans Gobin's opening survey slides showed that FP&A teams spend only 14% of their time driving action and 18% generating insight – the rest goes on non-value-add work. Only 22% are performing well, 32% describe themselves as struggling, and the profession's performance has barely shifted in five years. Business partnering is now the most-cited hiring skill at 48%, but the architect and data-scientist capabilities you'd actually need to work with AI trail everything else. Overlay AI where it's working and the numbers move – time on higher-value activities...
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