AI, Technology & The Modern FP&A Mindset – Insights with Dr. Liran

In this insightful episode of FP&A Tomorrow, host Paul Barnhurst dives into the future of Financial Planning and Analysis (FP&A) with Dr. Liran Edelist, a seasoned expert with over 30 years of experience in finance and technology. The discussion focuses on the importance of modernization, the role of technology, and how FP&A professionals can better align their tools and processes with the needs of the business.

Dr. Liran Edelist, referred to as "The Doctor" by Paul, is a distinguished professional with a PhD in Business Administration. Originally from Israel, Liran now operates out of the Greater Boston area and has extensive experience in consulting, technology, and business leadership. With a career spanning nearly three decades, including a presidency at Jedox Americas and a role as an adjunct professor at Boston University, Liran brings a wealth of knowledge on the intersection of finance, technology, and business processes.

Expect to Learn:

1. The key components that define modern FP&A and why reducing manual work is crucial.
2. How to find the right balance between people, processes, and technology in FP&A.
3. The importance of selecting the right FP&A tools and avoiding common pitfalls during implementation.
4. Insights into the role of AI in FP&A and how it can act as an additional "pair of hands" rather than a replacement.
5. The significance of having a modernization mindset and how it can lead to continuous improvement in FP&A processes.

Quotes:

Here are a few relevant quotes from the episode 

• "The great FP&A is a modernized FP&A where you don't have too much manual work." - Dr. Liran
• "FP&A should be the front office of the organization, helping lead the business alongside the CEO." - Dr. Liran
• "The key to successful FP&A is balancing the right people, processes, and technology." - Dr. Liran

In this episode, Dr. Liran Edelist emphasizes the importance of modernization in FP&A, urging professionals to adopt a mindset of continuous improvement rather than relying on outdated methods. This episode underscores FP&A’s vital role as a strategic partner in guiding organizations toward a more data-driven and forward-thinking future.

Follow Dr. Liran:

Website - https://www.topit.biz/

LinkedIn - https://www.linkedin.com/in/drliranedelist/ 

Follow Paul:

Website - https://www.thefpandaguy.com

LinkedIn - https://www.linkedin.com/in/thefpandaguy

World-class Digital FP&A Course Bundle:

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Enroll for Financial Planning & Analysis Certificate Program:

Sign up for the 8 week online financial planning & analysis certificate program by Wharton Online and learn the art of forecasting, analysis, business partnering and financial storytelling: https://bit.ly/4debs46 Use Code: THEFPAGUY300 to save $300.

Earn Your CPE Credit

For CPE credit please go to earmarkcpe.com, listen to the episode, download the app, and answer a few questions and earn your CPE certification. To earn education credits for FPAC Certificate, take the quiz on earmark and contact Paul Barnhurst for further details.

In Today’s Episode

[01:35] - Introduction to the episode and guest, Dr. Liran

[02:57] - What defines great FP&A?

[04:24] - Critical balance between people, processes, and technology

[09:18] - Key considerations for selecting the right FP&A tools

[15:06] - Trends in FP&A technology

[23:32] - The Role of AI in FP&A

[26:00] - FP&A as the front office of organization

[28:46] - The Plan Buddies community

[33:23] - Implementing FP&A tools successfully

[45:27] - Conclusion and closing remarks