Best Financial Planning and Analysis (FP&A) Software for NetSuite in 2023 (2023)

FAQs

Best Financial Planning and Analysis (FP&A) Software for NetSuite in 2023? ›

Oracle Financial Planning & Analysis. Oracle Enterprise Performance Management (EPM) provides planning, budgeting, and forecasting for your organization's leadership and finance teams so they can build business and financial plans across the enterprise.

Oracle Financial Planning & Analysis. Oracle Enterprise Performance Management (EPM) provides planning, budgeting, and forecasting for your organization's leadership and finance teams so they can build business and financial plans across the enterprise.

Financial planning and analysis (FP&A) is a set of planning, forecasting, budgeting, and analytical activities that support a company's major business decisions and overall financial health.

Business Degree With a Focus in Finance

While studying business, students gain a broad understanding of banking and economics, which are important topics in understanding financial planning. Plus, a concentration in finance can provide insight into how to value a business, stock, or other financial product.

FP&A involves several manual processes that can be automated to enhance the efficiency of workflows. These tasks include data collection, data sanitation, data consolidation, report preparation, and more.

Python, and especially Pandas, can be daunting for uses in FP&A, but does provide advantages: Can handle and store large data and associated calculations. Faster calculation.

Essential SQL Tools for Financial Analysis

One of the primary uses of SQL is working within relational databases, and Financial Analysts can use SQL in order to build their own financial data database.

FP&A professionals in general oversee a wide array of financial affairs that include financial statements, capital expenditures, expenses and taxes etc. financial analysts in particular are tasked with evaluating, examining and analyzing a corporation's financial activities and mapping its financial future.

Oracle Financial Analyst salary in India ranges between ₹ 1.2 Lakhs to ₹ 9.3 Lakhs with an average annual salary of ₹ 4.2 Lakhs. Salary estimates are based on 248 Oracle latest salaries received from various employees of Oracle.

Does FP&A pay well? ›

Although average base salaries can vary by industry and organization, FP&A roles are generally high-paying. The average salary for an FP&A analyst—the most junior-level role—is still $70,506 per year, and can scale to $200,000 per year at the director or VP level—sometimes even higher!

Financial, Planning, and Analysis Accounting or FP&A Accounting isn't ordinary Accounting. Still, it is a much broader concept that includes financial decisions, planning, and analysis FP&A in addition to financial accounting.

FP&A is the set of strategic activities (planning, budgeting, forecasting, and analysis) that enable a company's ongoing financial health and ability to grow. FP&A enhances the finance department's ability to manage performance by integrating corporate strategy and decision-making.

NetSuite Planning and Budgeting brings financial, payroll and HR data together so you can plan headcount, salary, bonus and payroll taxes using actuals from your business. This allows leaders to quickly build models and plans without having to rekey or reassemble workforce information in a spreadsheet.

The best financial analysis tool is ratio analysis. It calculates ratios from the income statement and balance sheet. Also, it is the most common method of financial analysis.

FP&A managers typically earn higher salaries than accounting managers due to their specialized knowledge and experience.

Yes, a Financial Analyst can become a CFO. It's important to gain experience in various finance roles, including FP&A, and develop a broad range of skills in strategic planning, financial management, and leadership.

The FP&A career path starts at the analyst level and progresses to director of FP&A: FP&A Analyst. Senior FP&A Analyst. FP&A Manager.

Transitioning from accounting to FP&A requires comfort with risk, comfort with making recommendations and decisions knowing that the data is imperfect, facts change, and you may need to reverse decisions.

Does FP&A require CFA? ›

Most professionals currently working in FP&A teams are finance or accounting undergrad majors with some professional qualifications (such as CA / CPA, CGMA, CFA) or MBAs. Most of them would have previously worked in accounting or auditing before moving into FP&A.

Do I Need a CPA to Be in FP & A? In FP&A roles, our users shared that having an accounting background and / or a CPA is very useful and, in some cases, required. However, some users shared that you can move up the ranks without a CPA degree; however, it is easier to advance with that certification.

We do not use Excel for everyday statistical analysis and would strongly recommend against it (see, e.g., Knusel, 1998; Simon, 2000). However, many people might be surprised to discover that MS Excel can be used to do simple (and more complex) confirmatory factor analysis (CFA).

Python is the most popular programming language in finance. Because it is an object-oriented and open-source language, it is used by many large corporations, including Google, for a variety of projects. Python can be used to import financial data such as stock quotes using the Pandas framework.

Python for finance can help you launch a career as a Financial Analyst, Portfolio Manager, or Python Developer in the finance sector, but can also help you advance a career if you already work in such a position.

For simple queries and aggregations, SQL performs faster than Python because the data in the database already has a defined schema, and the computation process occurs close to the data.

Data Analyst

Python is the go-to language for data analysts to analyze data, although other tools, including business Intelligence software, like Power BI or Tableau, and SQL, are equally important.

Which SQL is best for finance? ›

While there is some overlap between these two disciplines, they focus on different areas of money management. A financial analyst looks to past and current trends to help achieve a future reality, while an accountant may review a company's financial data on a day-to-day basis.

High demand and competition for skilled FP&A professionals

According to Gartner's Finance Talent Survey, FP&A is one of the most in-demand finance roles, with 51% of finance leaders reporting difficulty filling these positions. This suggests that not only are FP&A roles popular, but they are also highly competitive.

FP&A is more short-term monthly planning alongside budget owners. Strategic finance focuses on longer term growth and development alongside the company C-suite.

The highest paying company for a Financial Analyst is Google with an average total compensation of $214,700.

The best Financial Planner jobs can pay up to $174,500 per year. A financial planner is an advisor who works with and individual or organization to plan and manage long-term finance goals.

Estimated average pay

The estimated middle value of the base pay for Oracle Consultant at this company in the United States is $58.97 per hour.

Some companies have both Analysts and Senior Analysts in FP&A; at others, the hierarchy goes straight from Analyst to Manager. It's safest to say that “Manager” is above Analysts and below Directors, VPs, and CFOs. You might spend 3-5 years at each level, so it could take 6-10 years to go from Analyst to Manager.

A small percentage, about 10%, of FP&A goes to investment banking or private equity, or moves to other areas of corporate management, for example, sales and marketing or human resources.

What is the difference between FP&A and F&A? ›

FINANCE AND BUSINESS ACUMEN

Accounting is more focused on capital reporting, while FP&A is more focused on capital allocation. The differing views are considered in three areas: decision-making, reporting and metrics.

FP&A professionals can start their careers by getting a finance or accounting internship while earning their undergraduate degree. Completing an internship where you learn about the structure of corporate finance and accounting departments can help you get your first full-time FP&A position after college.

The integrated 3-statement financial model is the most fundamental tool for FP&A. It blends together the income statement, balance sheet, and cash flow statement to forecast how operational decisions, financial changes, and investments impact projections for business performance.

Financial models come in many shapes and sizes. There are common fundamental attributes that make a good model including inputs and assumptions, simplicity, and transparency.

The three most common financial analysis tools are horizontal analysis, vertical analysis, and ratio analysis.

In essence, a financial KPI is a metric that helps FP&A teams measure their performance in terms of how well they're achieving their team goals. For example, if an organization wants to increase profitability by 10%, one of its KPIs would be the percentage change in net profit.

Entrance Requirements

Have a bachelor's or equivalent degree OR be currently enrolled in an undergraduate program with a finance related major (finance, accounting, economics or business) and be on track to graduate within two years.

What are the 3 types of financial analysis? ›

Horizontal, vertical, and ratio analysis are three techniques that analysts use when analyzing financial statements.

The three major tools for financial statement analyses are horizontal analysis, vertical analysis, and ratios analysis.

The income statement, balance sheet, and statement of cash flows are required financial statements. These three statements are informative tools that traders can use to analyze a company's financial strength and provide a quick picture of a company's financial health and underlying value.

Most current staff in the FP&A team are finance or accounting undergrad majors with various qualifications (CPA, GCMS, CFP) or MBAs. They most likely already had experience in accounting or audit before moving on to finance and operations.