Reinventing FP&A | Ep. 3

Olivia

Alright, Ryan, let’s get straight into it—today we’re talking about reinventing FP&A. And honestly, if I close my eyes, I can still see those colour-coded spreadsheets from my early days, each version bouncing around inboxes like a bad penny. Version control? Utter chaos. I remember one particular board meeting, actually, where we presented numbers—really robust, we thought—only to find out they were two weeks out of date. The looks on their faces—let’s just say our credibility evaporated in about six seconds.

Ryan

I can feel that pain, Olivia. I swear, sometimes it’d take longer to wrangle all those spreadsheet versions than it did to answer the actual business question. And it’s not just the embarrassment, right—like, in your board meeting—but the risk! Outdated info leaves teams making decisions based on yesterday’s reality. I’ve seen cases where sales teams overhired because finance numbers lagged. Other times, we under-invested because we didn’t see how good our pipeline really was.

Olivia

Exactly—lagging reports, static models, all of it means you’re driving using the rearview mirror. The world’s moving, and your plan stays frozen. That’s not just inconvenient, it’s dangerous. With how volatile things are—new markets, shifting customer demands—you can’t afford that kind of latency.

Ryan

I’ve gotta jump in here—with how expectations have changed, FP&A can’t just be the “scorekeeper” anymore. People want us at the table translating numbers into business insights, sure, but also helping spot what might be coming round the corner. Like, how have you seen that shift? Not just from finance folks, but from the execs or operational leads around you?

Olivia

Oh, it’s so different now. The board doesn’t just ask about misses; they want to know what you’ll do if a big customer churns or costs spike. And with the speed of change, they want scenario planning—on demand! I think for listeners out there, I’d love to know: what have you seen go wrong when teams stick to outdated FP&A processes? Because I’ll bet nearly everyone’s got a horror story.

Ryan

Totally. Or, maybe even more interesting, how have your partners across the business started looking to finance differently? Because that’s a biggie—the expectation that you’re not just reporting the score but helping draw up the new plays, if you will.

Olivia

And sometimes, I’ll be honest, I still triple-check the most basic formulas. Just in case the rules of math have changed overnight! Anyway, this is why so many teams are moving away from those old systems, right? The risks aren’t just theoretical—they’re business critical, and it’s time for something better.

Ryan

That’s a perfect segue. The big difference-maker is, well, the toolkit—switching from those clunky spreadsheets to modern, cloud-based platforms. When I was rolling out automation at a Fortune 500, it was wild—just by getting rid of manual data collection, we saved what, probably forty hours a month? Suddenly, my team could actually analyse instead of wrestling with Excel. And, the stress level? Down, way down. I mean, nobody misses “Excel gymnastics.”

Olivia

Excel gymnastics is the perfect phrase—doesn’t matter which country you’re in, we’ve all done it! But the jump to proper platforms isn’t just about convenience. It’s about moving from lagging indicators to leading ones. Once data’s in the cloud, with analytics embedded, you’re able to see what’s happening now, not what happened last quarter. That totally changes the role of finance—from just reacting, to actually leading conversations on where the business should head next.

Ryan

Absolutely. And it’s not just the big players. Look at streaming companies or CPG firms—those folks have a ton of data, but more importantly, they’re leveraging scenario modeling to prep for, say, sudden shifts in demand or supply chain issues. The real kicker is, smaller teams can take a page from that playbook. Modeling out if, “Hey, what if our top market tanks? What if a major supplier disappears?” doesn’t have to be out-of-reach anymore. Tools like Workday Adaptive Planning or whatever you pick—they bring that kind of scenario testing into reach for smaller operations. We even saw a telecommunications firm, up in Canada, move rolling forecasts off manual sheets to cloud planning, and the reduction in errors alone—they could finally focus on strategic analysis, not just fixing broken formulas.

Olivia

Those examples prove it—adopting new FP&A tools doesn’t just eliminate errors and save time, it frees bandwidth for finance teams to focus on “what if?” instead of “what went wrong.” And that mindshift, that’s what positions finance as a real partner—because now you can anticipate market moves, not just report on them. Plus, with so many teams working remotely, being able to collaborate in real time is, well, almost non-negotiable now, isn’t it?

Olivia

This is my favourite part of the transformation—FP&A moving from a back-office, “here’s your report” function, to an active, collaborative business partner. The whole mantra is “collaboration, proactivity, challenge the status quo.” It’s not just about reporting—finance teams are embedding with cross-functional groups, sitting in on project meetings, and using real-time data to drive smarter, quicker decisions. The goal isn’t perfection, it’s agility and relevance.

Ryan

Right, and rolling forecasts are a great example. Take that telecoms company—they went from quarterly, static projections to detailed, rolling forecasts updated as business realities changed. Suddenly, their finance team was able to say, “Here’s our latest trajectory,” and recommend pivots before things went sideways. Honestly, it gave them a seat at the strategy table.

Olivia

Yes! And it's that move to continuous planning—supported by accessible, decision-ready data—that unlocks the magic. But, it does require breaking down those good old silos. It’s about embedding finance so deeply into projects that you’re the folks connecting people, process, and purpose. And cross-team collaboration is a must; the research shows only 12% of organizations have fully accessible data across silos. So most teams have a way to go.

Ryan

It really drives home that bridging finance and ops isn’t just a “nice to have” anymore. If you want to thrive in fast-changing conditions, you need FP&A as a force for driving—and not just observing—change. I always picture it like, you want FP&A as the QB, not the field goal kicker. They’ve got to call an audible when something unexpected happens, you know?

Olivia

Ha, love the analogy. And honestly, it’s about more than tech. It’s a mindset. The best teams I’ve seen are constantly experimenting, challenging assumptions, and looking for actionable insights that move the business forward. At Workday, for example, they didn’t just “transform”—they focused on continuous innovation, always seeking to reduce friction and add value, not just automate for automation’s sake.