This article highlights some of the common cognitive biases that the author has come across in his career and how awareness and mitigation of these could lead to our becoming better finance and FP&A business partners.
FP&A professionals have various desirable attributes. This article looks at these attributes from a diamond perspective – cut, colour, clarity and carat – plus culture.
Many commercial finance or FP&A professionals focus on getting the model right and not enough time considering the how people are going to react to the outcome. This blog sets out a few tips to navigate the politics. In the words of Oscar Wilde ‘The truth is rarely pure and never simple’.
As financial professionals we Financial Planning and Analysis (FP&A) professionals spend a lot of timing learning - learning the basics of accounting and finance, learning the business and learning about the impacts business decisions have on budgets and forecasts.
Each function has strategic insight that can benefit senior management with their unique perspective. While this is true, there are only so many seats at the table, and each organization functions differently.
Business partnering is something everyone is talking about right now. The premise is that the more low-value finance tasks are automated, the more time finance practitioners have to work with their “customers” in the business. The only problem is that many business leaders are far from satisfied with finance’s performance to date as a valued business partner.