How to create FP&A COE in a large multibillion manufacturing /distribution/service company

Before such a question can be answered in detail, it is important to better understand the existing FP&A process and how fragmented it is across the enterprise, and the need to establish a COE for that process.

The benefits to the organization can be significant, following a successful implementation, but the project itself can be lengthy and complex. You will need an in-depth assessment of the existing process, identify duplicate sub-processes that can be moved to the COE and all low-value support functions that will assist the FP&A function within the organization in performing their tasks.

The way I understand it, this forum, while perfect for exchanging ideas and providing answers to questions, is not designed for such an undertaking. You will most likely need to engage a consulting firm to perform an independent assessment and provide some of your own resources during such an assessment. From my experience in such projects, it will require an absolute and full commitment of management to the undertaking of such a project and the discipline to complete it.

Based on the result of the initial assessments management can better decide whether establishing a COE for the FP&A process is necessary, and if so, what the next steps should be.

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