Financial Analysis and Planning

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Financial Analysis and Planning – The Ultimate Guide to Business Success

You need to be able to change course fast and have a solid business plan if you want to compete and succeed in today's business environment. Professionals in financial planning are expected to be able to see around corners and offer precise, data-driven insights to support confident planning and decision-making throughout the entire organisation. Under a variety of International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP), Enterslice provides in-depth financial analysis. We guarantee adherence to financial planning and analysis solutions. By using our assistance, you can unlock the potential of your company and explore its full growth. Enterslice offers you financial planning and advisory services since we are aware of how businesses are evolving.

What is financial planning and analysis? 

One of the main responsibilities of the finance department is financial planning and analysis. An organisation can accomplish strategic goals and tasks within its resource constraints with the aid of financial planning and analysis. The primary duty of the financial analysis and planning team is to support management in setting short- and long-term goals, doing cost-benefit analyses, and making sure goals are reached by regular evaluations. The combination of all the financial procedures that sustain an organization's financial health is known as financial planning and analysis. This covers the financial activities of an organisation, including planning, budgeting, analysing, reporting, forecasting, and modelling. Usually, the Chief Financial Officer (CFO) and Accounting receive direct reports from the FP&A staff. Financial advisor positions are typically filled by Financial Analysis and Planning analysts. The group assists senior management by working closely with them.

Enterslice Financial Planning and Advisory Solution Ensures

Accuracy - We make sure all of your data is current and in one location. Access is restricted to authorised users, and version control is maintained via modern budgeting software.

Efficiency & speed - Cutting-edge FP&A software will save a tonne of time on reporting and budgeting procedures, enabling prompt budget pivots when business circumstances change.

Customer-centric Solution - Since there is no one-size-fits-all approach to FP&A solutions, we offer customer-centric solutions tailored to each customer's needs. We guarantee that everything will be completed precisely when needed to meet your needs.

Enterslice Financial Advisory and Planning will make your Business

Efficient - We will perform and function in the best possible manner without wasting your time and effort. With Enterslice, make your business prudent and efficient.

Focused - We handle all administrative and formal procedures on your behalf, freeing you to focus on running your business and not worrying about anything.

Compliant - We remove all your confusion and make financial planning by complying with the legal procedures with the help of our financial analysis and planning consultants. 

Basic Steps in the Financial Analysis and Planning Process

Data collection and analysis are done continuously as part of the FP&A process. The process gets more complicated when organisations develop and enter new markets, as well as during periods of market turbulence and rapid change. Many large and medium organisations have established specialised FP&A divisions inside their finance departments, as there is a need for further data collection and analysis. However, despite growing in complexity, the four fundamental steps of the FP&A process remain the same:-

Data Collection and verification

Gathering operational and financial data from data warehouses, ERP systems, and other business solutions is the first stage in the financial advisory and planning process. Furthermore, information from outside the company, such as more comprehensive market, demographic, and economic data, may also be collected. After the required data has been gathered, it must be combined, standardised, and validated. This stage is crucial since accurate budgets, projections, plans, and analyses all rely on the completeness and quality of the data they utilise. Businesses are now turning to AI-powered solutions that can automate many of these operations because they are incredibly time-consuming.

Planning and Forecasting

Using the prepared data, our analysts generate financial predictions in this step to determine whether the company is travelling on the correct path and how it will perform going forward. A few examples of financial forecasts are cash flow projections and sales forecasts. Additionally, financial forecasting models are used to simulate the effects of various factors, test out various scenarios, and decide on the best course of Action.

Budgeting

Based on the income from the strategic plan, our specialists project the costs required to carry out the corporate plan during the budgeting stage. Subsequently, they allocate an expenditure budget along with the anticipated revenue and cash flow for every business unit or activity. Corporate works with each department to create a master budget, which combines all of the agreed-upon budgets. Typically, the corporate budget is produced once a year and updated every three months to reflect changes in the financial landscape. However, a lot of companies have recently shifted to continuous budgeting cycles that are regularly updated with rolling estimates and predictions to better handle erratic market conditions. Zero-based budgeting, which prevents bloat and overspending by continuously assessing whether expenses are necessary, has also been embraced by several businesses.

Analytics and performance tracking

Enterslice evaluates financial data and continuously tracks performance, including sales, costs, profit, working capital, cash flow, and other KPIs, to counsel the company and assist with decision-making. In addition, FP&A analysts perform tasks like profitability analysis, which includes projecting future profits and providing answers to queries like "Which products and services will be most profitable next year and now?" and "Should we outsource production or keep it in-house?"

Three Main Process of Financial Analysis and Planning

There are three primary steps in the financial analysis and planning process:-

Evaluating the Current Financial Condition - To obtain a true image of where your company is at, it is essential to evaluate the current financial condition. Examining a range of financial metrics, including cash flow, profit margins, expenses, and sales, is part of this process. You may start predicting future patterns if you have a solid understanding of your existing financial circumstances.

Forecasting Future Trends - Although projecting future trends is a challenging task, it is crucial to make an effort to foresee potential developments. Typically, this process entails building financial models and making educated projections based on historical data.

Developing a Plan of Action - The last phase of the procedure entails developing a financial plan. This plan will tell you exactly what needs to be done to reach your financial objectives. It will consider both your present circumstances and your forecasts for the future. It might be difficult to create a financial plan, but having one in place is crucial. It's challenging to know what actions you should take to accomplish your financial objectives without a strategy.

Why Are Analysis and Planning of Finances Important?

The success of your enterprise hinges on your capacity to formulate inventive approaches, captivate your intended market, and, above all, make judicious investment choices on time. As an entrepreneur, you are aware that managing your company's finances is your largest task. It might be intimidating to manage your funds, particularly if you haven't planned them effectively. Unexpected events cause many businesses to fail and, in rare situations, to close. Things can get complicated if you don't have a solid plan in place. This is the point at which financial analysis and planning are useful.‍

Future of Financial Planning and Analysis 

Future developments in FP&A are anticipated, along with new obstacles brought on by shifting stakeholder expectations, changing corporate environments, and technological improvements. These are a few major trends that will probably influence FP&A in future.

Advanced AI - Financial planning and analysis will continue to be revolutionised by the integration of sophisticated analytics approaches, such as AI and ML. With increased sophistication, predictive analytics will provide businesses with a better understanding of consumer behaviour, industry trends, and financial performance. Proactive planning will be facilitated, and decision-making will be improved by automated forecasting models and real-time data analysis.

Data Governance and Security - To preserve the integrity and confidentiality of financial information, organisations must place a high priority on data governance and security, given the growing reliance on data. Strong data management frameworks, privacy laws, and cybersecurity safeguards are essential for preventing breaches and guaranteeing compliance with sensitive financial data.

Strategic Partnerships - By closely collaborating with corporate executives and offering insightful analysis, our specialists will become even more crucial to strategic decision-making. They will be in charge of spotting chances for expansion, allocating resources as efficiently as possible, and assessing the financial sustainability of new projects.

Integrated Planning - By combining financial planning with other operational domains like supply chain, sales, and marketing, financial planning will become more integrated in the future. Organisations will be able to better connect their operational plans with their financial goals, increase productivity, and boost overall business performance with this all-encompassing strategy.

Improved Reporting and Visualisation - In financial analysis and planning, self-service reporting features, interactive dashboards, and data visualisation tools will all become more common. With less dependence on technical specialists, stakeholders will be able to visually examine data, obtain financial insights, and make well-informed decisions due to these developments.

Agility and Scenario Planning - Financial planning professionals will need to embrace agility and scenario planning as the corporate environment continues to change quickly. Businesses will need to be able to quickly adjust to shifting market conditions, economic considerations, and rising threats if they are to prosper in these uncertain times.

‍Recent technical developments and shifting business environments have propelled significant progress in the subject of financial planning and analysis. The ability to give strategic insights and improve corporate performance has been granted to FP&A experts through the combination of AI, sophisticated analytics, and real-time data. Future financial planning and analysis characteristics will include better analytical capabilities, data governance, strategic alliances, integrated planning, better visualisation, and decision-making agility. Organisations may explore the complex financial landscape and realise the full potential of financial planning analysis by adopting these trends and utilising emerging technologies.

Chief Financial Officer (CFO) Service

All of a company's financial matters are under the jurisdiction of the Chief Financial Officer (CFO). It entails managing the spending plan, examining financial information, and choosing investments. By approving or rejecting financial plans and keeping an eye on the company's finances, the CFO also contributes to risk management. One of the CFO's responsibilities could include conducting a financial statement audit. A CFO needs to be well-versed in both financial statements and accounting concepts. They must also be capable of doing data analysis and advising management on how to strengthen the company's finances. To suit the demands of start-ups and MSMEs, Enterslice provides Shared CFO Services, Financial Health Check-Up Services, and Virtual CFO Services that are dependable and reasonably priced. In addition to offering helpful financial insights to support business growth, our team of professionals can assist with financial planning, budgeting, and forecasting. Join together with Enterslice for professional and affordable financial management solutions that will enable your MSME or startup to prosper in the current competitive environment.

What is the purpose of FP&A?

One important and main duty of finance departments is financial analysis and planning. All sizes of businesses require financial planning solutions to manage cash flows, expenses, and revenue, compare actuals to projections, produce financial statements, and give the board of directors the data analysis they need to set objectives, monitor performance, set goals, and steer the organisation towards profitability. Because data transparency and accuracy are critical success criteria, more businesses are using financial analysis and planning software to collect data, run computations, and provide reports.

Skills Needed for Efficient Financial Planning & Analysis

All financial professionals need to be adept at analysing data and drawing conclusions from it, but financial planning and analysis executives stand out for their ability to:-

Business intelligence - Financial analysis and planning specialists need to be able to take the information they collect, analyse it, and make inferences from it. They ought to be able to convert their evaluations into actionable suggestions that will produce outcomes. This is usually a major distinction between accounting and FP&A because accountants are better at analysing previous financial data than they are at suggesting new course corrections.

Knowledge of the company and fostering relationships - Success in financial analysis and planning frequently depends on how much information participants are willing to offer. They won't be as aware of organisational changes as they happen if they don't have solid relationships with important company stakeholders, which include CEOs, leaders in sales, and HR. Strong personnel skills increase an individual's likelihood of staying in the "circle of trust" and receiving critical updates as they happen from throughout the company. 

Accounting and corporate strategy - Corporate strategy and accounting expertise enable FP&A to collaborate more effectively and obtain the necessary data by thinking more like their cross-functional counterparts. Are you proficient in valuing assets and comprehending accounting disclosures? Even better. Having a broad background in both business and finance will enable a financial planning leader to provide more insightful recommendations for the company's future.

Common Financial Planning Methods

The most popular techniques for financial planning are as follows:-

Predictive planning - Financial planning and analysis specialists use predictive planning to build models based on sizable historical performance data sets. The performance of the future is then predicted using this time-series forecasting model. Planning tools are greatly enhanced by predictive analytics, particularly when combined into a single system and enhanced with AI and machine learning. 

Driver-based planning - In this approach, analysts first determine the primary business drivers of a company or the factors that are most crucial to its performance. They then develop a set of plans that illustrate quantitatively how various variables could impact the business drivers.

Multi-scenario planning - Businesses are using scenario planning and analysis as a more common planning technique these days. When doing multi-scenario planning, analysts project potential future events. They consider the ramifications and then devise a strategy for handling every conceivable situation.

The financial and operational plans required to accomplish overall strategic goals like revenue and net income over the short and long terms are created using these models and financial predictions. 

H - 13 Key Work Responsibilities in Financial Analysis and Planning 

An organization's financial safety and strategies are provided by the Financial Planning & Analysis (FP&A) department. Three broad categories can be used to classify its duties:-

Finance Management - The daily financial management responsibilities that guarantee the organization's stability and viability fall under this area. Here, important jobs consist of:-

  • Revenue forecasting - It is the process of projecting future profits using past performance and present market conditions.
  • Cost optimisation - It is the process of keeping costs under control to match expected income.
  • Managing cash flow - Making sure the business has enough cash on hand to meet pressing obligations.

Performance and Risk Management - This component focuses on monitoring and assessing the financial performance of the company and planning for various contingencies.

  • Performance Metrics and KPIs - Measuring organisational performance consistently about predetermined goals is known as performance metrics and KPIs. 
  • Planning Scenario - Planning scenarios involve modelling various business situations and outcomes to be ready for a range of possible futures.

Strategic Financial Planning - The goal of this field is long-term development and expansion. Roles in financial analysis and planning here are:-

  • Capital Investment Analysis - Analysing the financial viability of possible investments or acquisitions is known as capital investment analysis.
  • Market Expansion Feasibility - Assessing the viability of expanding into new markets by weighing the advantages and disadvantages.

Financial planning makes sure that companies are not only financially sound today but also strategically ready for tomorrow by focusing their efforts on four broad categories.

Perks of Getting Financial Analysis and Planning Services

Enhanced Accuracy and Efficiency - A company can improve the accuracy and efficiency of its financial management and business operations with the aid of its financial planning and analysis process. An organisation may monitor its financial performance and spot trends and opportunities with the aid of a strong FP&A procedure.

Better Capability to Make Decisions - By collecting data regarding internal operations, our financial planning and analysis assist the organisation in making more informed decisions. Executives may make more informed decisions on resource allocation with the support of a strong financial analysis and planning process, which offers comprehensive information on how money is being spent.

Risk Management - Companies may efficiently detect and manage any financial risks and get ready for unfavourable outcomes with the aid of our well-executed financial analysis and planning process. Moreover, sound risk management is predicated on financial planning and analysis. A competent risk manager can assess both the company's risks and the variables that could have an impact on them.

Lower Capital Expense - Capital management for the business is one of our primary duties. Asset management is handled by the accounting department. Ensuring that the company's management has the resources they need to make the best choices and lower the cost of capital is the aim of our financial analysis and planning team.

Improved Control - A company's performance depends on its FP&A procedure. A business can easily lose track of its finances without an FP&A procedure, which can lead to several issues for the organisation. An organisation should put an FP&A process in place to prevent these issues. 

How Does Financial Analysis and Planning Boost Companies Operations?

A company's finance departments are essential to its success. They oversee all of the business's financial operations, including purchasing, payroll, and inventory control. However, what precisely is finance? And how do operations and finance interact? The financial activities of a firm are planned, managed, and analysed by the finance staff. Finance, for instance, can be used to assess a new product's viability and profitability. Alternatively, it can be used to track a business's cash flow and keep an eye on how well everything is running overall. They can generate more income and provide more goods and services when their operations are in good shape. Thus, the business may develop and flourish. As a result, operations are directly impacted by money. 

Drawback Of Not Having Financial Analysis and Planning

Businesses may suffer from several issues if financial planning and analysis (FP&A) is neglected. Its potential to result in ineffective decision-making is one issue. For instance, an organisation may not become aware of the impact of its marketing expenditures on its bottom line until after it has incurred substantial financial costs. Additionally, by using financial analysis and planning, businesses may accurately evaluate their financial situation and decide how best to allocate their resources. This may occasionally result in bankruptcy. Lastly, companies might not be able to prepare for unexpected events or future growth without financial planning. Businesses might not be able to accurately assess their performance or decide how best to use their resources without financial analysis and planning knowledge. 

Get financial planning and Analysis Support from Enterslice

When elevating your organisation, consider more than just the professional appearance of your staff. It goes beyond simply setting up a beautiful office or purchasing the appropriate business cards for your group. Rather, your organisation ought to invest in a group of people who can plan for the future of the company. Use Enterslice to expedite your cost reporting and administration to boost your business's finances. With real-time data feeds, simple expenditure reporting, and automated reconciliations, Enterslice gives financial analysis and planning teams the tools they need to expedite their analysis and come to financially smart judgements. Make an appointment with Enterslice right now to discover how our financial intelligence skills and streamlined reporting may improve your finances.

Hassle-free Financial Analysis and Planning Service with Enterslice

Enterslice redefines how financial analysis and planning may improve your organisation by fusing cutting-edge digital solutions with business analytics. We provide strategic evaluation and assessment, forecasting, budgeting, reporting, and performance monitoring as part of our financial analysis and planning service. We work with companies of all sizes, from big corporations that would rather not have to hire employees and run an accounting department to smaller companies or startups in need of comprehensive guidance and support. You can lower expenses, enhance efficiency, and boost production by outsourcing your financial planning and analysis procedures.

Our Success Story

We have more than ten years of experience in financial planning and analysis, in addition to providing CFO services, auditing, tax and accounting, bookkeeping and payroll services, and strategic business planning services. Enterslice provides our clients with a comprehensive solution that enables them to achieve their business objectives and conduct legitimate, interference-free operations. Together, we can use our state-of-the-art technological solutions to propel your business to an unprecedented level of success.

Frequently Asked Questions

A financial situation analysis and future planning is known as financial analysis and planning. Evaluating and updating the data that underpins the decision-making process is a continuous activity. Cash flow analysis, budgeting, and forecasting are some examples of FP&A. Long-term financial projections, strategic planning, and other planning tasks are examples of it.

A variety of financial planning and analysis techniques exist, such as cash flow analysis, forecasting, budgeting, financial statement analysis, and strategic planning.

Spreadsheets, accounting software, and financial modelling software are examples of financial planning and analysis tools.

A person or organisation can establish strategies to attain its goals and objectives with the aid of financial planning and analysis. It also aids in anticipating and managing environmental changes for an individual or organisation.

A trained professional who creates financial plans for individuals and companies is known as a financial planner or advisor. If you trade options, your turnover is the sum of all of your transactions, both positive and negative, converted into a positive amount, plus the premium you receive when you sell your options.

A financial planner's job is to collect information and assess options. It is the cornerstone of any wise financial strategy. Creating a budget is the process of budgeting. Usually, it is completed at a predetermined period or at the end of the year.

Financial analysis and planning are analyses of your financial situation both now and in the future. Strategic planning is the process of creating a future vision and a plan of Action, and it is a continuous process that requires reviewing and updating the information.

A component of FP&A is called Cost-Benefit Analysis, or CBA. It involves adding up the anticipated savings or revenue as well as project benefits and then subtracting the expenses that will have an impact on those benefits. It assists the management group in selecting which initiatives to take on or drop.

Financial planning and analysis Automation makes it quicker and simpler to generate financial statements, cash flow statements, balance sheets, assets and liabilities statements, and other reports. The procedure is delivered with great correctness and transparency. The financial planning and analysis Automation platform makes it possible to maintain current data, which enables prompt fulfilment of all needs for immediate reporting.

The goal of a financial analysis is to determine if a company is profitable, liquid, stable, or solvent enough to justify a financial investment. It is employed to assess market trends, establish financial guidelines, create long-term business goals, and pinpoint enterprises or projects for investment.

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