In this episode of FP&A Tomorrow, host Paul Barnhurst, aka The FP&A Guy, explores the evolving world of financial planning and analysis (FP&A) systems. With guest Charlie Liu, the conversation shifts to the art and science of optimizing financial tools and processes to drive business success. Charlie brings a wealth of experience in FP&A, systems consulting, and fractional CFO services, offering listeners practical advice on navigating challenges in financial operations.

Charlie Liu, founder of Monte Carlo Consulting, has over 15 years of expertise in corporate performance management and FP&A systems. He specializes in helping businesses streamline operations with the right tools, enhance financial visibility, and achieve data-driven decision-making. Charlie’s unique background in consulting, product management, and sales enables him to deliver strategic and technical insights that empower organizations.

Expect to Learn

• Key traits of successful FP&A systems and how to separate from traditional accounting
• When and how to implement financial planning tools with key indicators
• Overcoming challenges in digital transformation and common pitfalls to avoid
• Leveraging generative AI to revolutionize FP&A processes and reporting
• Lessons learned from entrepreneurial ventures and adapting FP&A for startups

Here are a few relevant quotes from the episode:

• "There’s no perfect tool; focus on understanding your needs and defining negotiables versus non-negotiables." - Charlie Liu
• "Data is the foundation of FP&A. Clean, accurate data is essential for meaningful insights." - Charlie Liu
• "We’re at a point where AI can handle repetitive tasks, allowing FP&A professionals to focus on strategy." - Charlie Liu

In this insightful episode, Charlie Liu shared his expertise on optimizing FP&A systems and leveraging the power of generative AI. His advice resonates for businesses of all sizes as he emphasized the importance of customer focus, strategic thinking, and adaptability.

Streamline Financial Planning with Kepion:

Scale and automate your financial planning beyond spreadsheets with Kepion—trusted by top industries to automate, customize, and optimize complex planning. Learn more at https://bit.ly/3YI5cfp

Follow FP&A Tomorrow:

Newsletter - Subscribe on LinkedIn - https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=6957679529595162624 

Follow Charlie:

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

Follow Paul: 

Website - https://www.thefpandaguy.com

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

World-class Digital FP&A Course Bundle: 

Signup for over ten hours of video content with 4 different courses and 8 modules on FP&A topics including: Business Partnering, Data Analysis, Financial Modeling Design Principles, and Modern Excel. Use code Podcast to save 25%. What are you waiting for signup now: https://bit.ly/4decOf3

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

[01:57] - Introduction to the Episode and Guest

[03:50] - What Does Great FP&A Look Like?

[09:48] - Lessons from an E-Commerce CFO Role

[17:30] - Why Planning Tools Matter

[23:39] - Key Takeaways from OnPlan Experience

[30:38] - Overcoming Digital Transformation Challenges

[37:56] - Framework for Choosing FP&A Tools

[45:51] - The Future of FP&A with AI

[54:17] - Closing and Final Thoughts