On 11th May 2017 the Zurich FP&A Board gathered 36 senior finance practitioners from such leading local and global companies as Barry Callebaut, Cembra Money Bank, Citrix, Credit Suisse, Ecolab, EF Education First, GE, Gedeon Richter, MAN Diesel & Turbo, Medtronic, Quintiles IMS, Swissport, TE Connectivity, Xylem, etc. The important subject of Effective FP&A Organisational Structures became the main focus of the third FP&A Board meeting in Zurich.
--Kuala Lumpur, Malaysia
In this episode of the FP&A Trends Video Series, Hyder Hasan, Global Finance Director at PureCircle and a member of the FP&A Board in Kuala Lumpur (Malaysia), shares his thoughts on the importance FP&A soft skills. The soft skills are the differentiating factor between a good business partner and an effective business partner.
The core point which most of the finance people miss out in a Finance Business Partnering assignment is to take off their FINANCE HAT and wear their BUSINESS PARTNER’S HAT. In a Finance Business Partnering assignment finance people should not consider themselves as part of the Finance department, but part of their business partner’s department. Finance people should take their business partner’s agenda, as their own agenda and their business partner’s targets as their own targets.
By Chris Ortega, MBA, Sr. Finance Manager at Emarsys, USA
What ignited this article? I was talking with some upcoming college graduates from a similar background as myself. They were looking to go into corporate finance/financial planning & analysis (FP&A) after graduating from the Kelley School of Business at Indiana University. I shared with them lessons I learned from 10 years in the finance game. Why is this important to you? In discussing with them and seeing their reaction/feedback it was clear others could see value in my perspective.
So, here are my Top 5 lessons learned in the first 10 years of my professional career.
By Ernie Humphrey, Treasury Thought Leader, Webinar Guru, Engaging Speaker
The CEO walks into the CFO’s office and says, “You need to take more ownership of the customer experience and the professional development within and beyond your team.”
Even a few years’ ago many CFOs would have thought, and some still might think, is that the beginning of a joke? CFOs are not known for superior soft skills or effective collaboration beyond the walls of Finance. However, the challenges and opportunities facing companies are ever evolving and complex, and as such the role of the CFO need to evolve in step for a company to deliver innovation and realize sustainable growth.
by Antony Parker, AECOM
One important skill finance professionals are never taught during their formal education is the power of personal engagement with operations and using these relationships to deliver bottom line value. There is too much focus on models, processes, procedures and systems without regard to the fact that all these have to be developed, operated and interpreted by people.
I never cease to be amazed by the number of job ads that contain the title “Business Partner” without the candidate or employer knowing what the term means or understanding the behaviors and competencies associated with effective business partnering. Many organizations also fail to understand the powerful linkage between partnering and organization performance. They simply see business partnering as an attempt to convince themselves that by following latest trends the organization will achieve success.