What we have learned from the 46th ICV 2022

We’ve so enjoyed the vibrant atmosphere at this year’s Congress of Controllers (ICV) – our first in-person event in a very long time.??It’s been gratifying to connect once again with peers, clients, and friends to discuss the state of the industry and to explore how financial planning and analytics can transform business results when done right.

Here’s a rundown of what we’ve been up to and what we’re learning along the way:

• Yesterday we competed in the?BARC Predictive Planning Challenge?where we presented our predictor forecasting model to a varied audience from a wide range of different backgrounds.??We received some excellent feedback about the model and the guided workflow functionalities embedded within.??It renewed our confidence that Apliqo has lots to offer in the space – helping to take complex interconnected planning processes and transform them into information that can drive strategic decision-making.
• Following that, we partook in an interactive discussion with the audience about?predictive forecasting use cases?– exploring the bounds of the field and identifying what truly matters in different cases.??It was very interesting to hear from various players across the value chain – as perspective is such a unique component of the work that we do.??We were reminded that use cases are contextual down to the smallest details and a robust FP&A tool must be highly configurable if it is to meet the specific needs of an organization.
• There was alignment within the group that?predictive forecasting is not the solution for every business challenge.??It should not be viewed as a panacea, but rather as a highly specialized tool that provides value in specific use cases.??Understanding when not to use predictive forecasting is almost as important as knowing when to use it.
• Another insight was that?each company needs to define its own use cases accurately?and human decision-making still needs to remain a relevant factor during the final decision process.??While it is tempting to take the data and run with it, applying the right amount of human judgment is core to getting results.
• The final key takeaway is that?the finance department and the data scientists need to work together?on the use cases so there is strategic alignment and efficient collaboration across functions.??Without this, you end up with silos that cause bottlenecks and further headaches – all of which could have been avoided if there was inter-disciplinary communication.

As you can see, there has been a lot of food for thought and we can’t wait to take this back to see how we can apply it to the way that we do things.

If you want to engage further on these or find out more information, be sure to follow this link and schedule a 1:1 catch-up for after the event.??We can’t wait to meet you!