Today’s financial planning and analysis (FP&A) professionals face a plethora of challenges. Following a handful of meetings with FP&A professionals in Qatar, Dubai, Singapore and Ireland, Larysa Melnychuk, managing director of the FP&A Club of the Association for Financial Professionals (AFP), reflected on the biggest obstacles to FP&A, and possible solutions to overcome them.
Unilever has sold off food brands; General Electronic recently announced the sale of its iconic appliance business and plans to sell most of its finance arm; Hewlett-Packard has been finding new homes for units domestically and abroad; Baxter International is splitting itself in two, creating a new biopharmaceutical company. And the list goes on…
Business news pages are full of stories of mergers and acquisitions, usually accompanied by announcements from the board about how fantastic the latest deal is for the company’s shareholders and customers in promoting growth, profitability and value.
General Electric’s decision to sell the majority of its financial businesses and return to its industrial roots is a stunning example of deliberate downsizing. On April 10, GE announced that it was starting a journey to create a simpler, more valuable company by spinning off much of that financial arm though the sale of most of GE Capital’s assets.