The term Extended Planning and Analytics (xP&A) was first coined by Gartner, who describe it as “the evolution of planning, combining financial and operational planning on a single composable platform.”
xP&A, says Gartner, “extends traditional Financial Planning and Analysis (FP&A) solutions focused solely on finance into other enterprise planning domains such as workforce, sales, operations and marketing.”
Over recent years, there’s been a marked increase in business uncertainty. So, it’s only to be expected that there’s been an ever-increasing demand by decision makers for access to more relevant, up-to-date, and high-quality information to underpin corporate planning and forecasting.
When on unsteady ground, certainty of data is king.
As more organisations ready themselves to replace their traditional planning process with more agile planning and forecasting practices, they are also preparing for more profound changes. These include adopting other planning methodologies like rolling forecasting, driver-based planning, and two-year and three-year plans as opposed to just the next 12 months.
To enable these changes, organisations are looking for software that can help them embrace best practice and achieve their planning goals with greater ease and higher accuracy.
And Gartner’s “Innovation Insight for xP&A” report agrees with us: “Although best-of-breed (BoB) operational planning solutions, such as workforce and sales and operations planning (S&OP) will remain popular, FP&A will begin to incorporate more of these functional capabilities as it evolves into xP&A (a platform-centric approach capable of supporting and integrating both financial and operational planning).”