Cooperation, flexibility and professionalism underpin a new partnership between IWG and financial think tank FP&A
IWG has announced a partnership with the International FP&A Board, a professional think-tank that was started to objectively discuss the latest trends in modern financial planning and analysis (FP&A).
FP&A has cited the flexibility and collaborative philosophy of IWG centres among the reasons for the partnership, which will see the board’s meetings take place in Regus and Spaces centres across the world. The changeability of the world of finance forecasting means that Finance community can directly benefit from office space that reflects it.
The board, which comprises CFOs, senior finance directors and heads of finance, was started more than five years ago in London to make collaborative headway into the latest developments in forecasting and financial planning and analysis (FP&A).
“Every corporation, small, medium or large, has to understand what the basis of their financial model will be in the future,” says Larysa Melnychuk, founder and managing director of the group. “They need that understanding to enable a quick and flexible decision-making process – one that is analytical, based on data and previous experience.”
Planning is crucial for any business, and the methods of accurately forecasting are developing at a cracking pace. Whereas previously the global implementation of big systems could take up to five years, today modern systems can be up and running and seeing results in a matter of months.
“It’s not enough to read professional books that were written even two years ago,” continues Melnychuk. “The knowledge is accumulating so quickly, we all have to adjust just as rapidly. So, a very important principle of these meetings is that they are vendor-agnostic: they do not have any selling agendas and insights are coming from the knowledge and experience of FP&A Board members. The content that is generated by the Board is interesting and unique. These meetings are complimentary and by-invitation-only. They are for senior finance practitioners to share ideas, trends, developments, challenges and lessons.
While started in London and focused on the British finance community, the board soon received calls from colleagues in mainland Europe, America and the Middle East. And, knowing that this kind of knowledge sharing could not happen through online meetings, it was decided to expand. The Board started expanding exactly 3 years ago, in May 2016. It is already in 23 cities in 16 countries over four continents. This year the Board will open new chapters in Shanghai, Brisbane, Washington D.C. and Houston.
Today, it covers the very latest developments in financial planning and analysis (FP&A) planning – even case studies of using Artificial Intelligence / Machine Learning for FP&A are covered at Board meetings and the AI/ML FP&A Committee. “Things are changing,” says Melnychuk. “The horizons of predictability are decreasing incredibly. This requires non-traditional and analytical methods, flexible systems and new generations of FP&A professionals.”
Meetings in IWG centres across the world soon followed – Frankfurt, Geneva, Brussels, Boston, San Francisco, Seattle, Chicago, Copenhagen and, most recently, Amsterdam and London. So, what clicked?
“Some of the main principles of the FP&A Board are collaboration, networking, and flexibility,” explains Melnychuk. “And these are all present in those centres at IWG. People collaborate where they can really be very comfortable but, on the other hand, the atmosphere is very professional.
“For us it was wonderful to have the flexibility to be in premium locations in different parts of the globe. Normally we start the meeting in one room, say the boardroom, where we have a general discussion, then later we divide into several groups. This is where we use several corners of the larger communal space or smaller rooms in a Regus or Spaces centre.
“It’s not only about the location. It’s also about having a professional atmosphere in any city we visit. We feel that we are in the middle of everything. Last week we were in London Victoria, on the 28th floor with a beautiful view of the London Eye, Parliament and Buckingham Palace. In Geneva, we were surrounded by water and right in the city center. In Chicago, we had a meeting in the Sears Tower with an amazing view. In Frankfurt, we were in Skyper Villa, a building that witnessed so many historical events. The IWG centres are all different, with different target groups and a unique spirit. But all of them are created for the convenience of professional people.”
To find out more about partnering with IWG, please visit our partners page
