Building a Robust FP&A Model for Better Business Insights

Case Studies

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Situation

A privately-owned fintech company providing banking-related services to start-ups and small businesses, sought to upgrade their FP&A (Financial Planning & Analysis) model. Previously, their FP&A processes were managed using Google Sheets with limited scenario forecasting, unbalanced financial hierarchies, and lacked historical workforce data tracking. They required a more integrated, automated, and detailed financial planning solution.

For more information, contact:

Daniel Dunleavy

Manager, EPM

LinkedIn

Approach

The project team, implemented a comprehensive FP&A model on Pigment. The model included modules such as Data Hub, Revenue, COGS, OpEx, Workforce Planning (WFP), Income Statement, Balance Sheet, Cash Flow, and Board Reporting. Key technical implementations involved:

  • Daily automated data feeds from Snowflake and NetSuite integrated bi-directionally with Google Sheets.
  • CSV uploads for additional data sources.
  • Automated workforce data feeds incorporating multiple systems.
  • Standardization of financial hierarchies to ensure balanced and detailed account structures.
  • Introduction of driver-based expense and outer year workforce planning.
  • Development of a runbook to maintain and update the model systematically.

 

Impact

 

  • Enabled the company to conduct multi-scenario forecasting for the first time.
  • Provided more granular Income Statement analysis by department and product.
  • Automated and reliable data integration improved data accuracy and timeliness.
  • Historical employee and requisition data could now be stored and referenced, enhancing workforce planning insights.
  • Transitioned workforce data feeds to improve efficiency and accuracy.
  • The new model supports better decision making and financial analysis capabilities.

 

Conclusion

The implementation of the Pigment FP&A model has transformed the company’s financial planning processes, increasing analytical depth, automation, and data integration. The project team’s collaboration and expertise were critical to the success. Moving forward, the client has hired a dedicated financial analyst to deepen their use of Pigment, with plans to explore new use cases in the medium to long term. The project represents a strong foundation for continued financial excellence and strategic growth.

 

Project Team

Solution Architect: Daniel Dunleavy

Model Builder: Akshay Jain