The image of a silo is one that is sealed off from its surroundings. It is insular and protected. In the organisation, this has tended to manifest itself in functional silos. Meaning Finance, HR, IT, R&D, Supply Chain, Marketing etc. It can, of course, apply broader to also divisions within an organisation or even regions / markets. How does this relate to Finance?
One of the advantages of working in the domain of FP&A is that it provides excellent opportunity to learn about many aspects of the business. This enables the individual to, not only do the job with a more solid ground, but to also get a better picture of what and how is done in the other departments. Additionally, working closely with colleagues from different functions increases one’s visibility in the organization. But how do you get started in FP&A?
In this article, I share my view on the key skills to have when you want to work in Finance and how they bring value to your organization.
The role of FP&A is becoming more important than ever. FP&A is seen as instrumental in helping organisation formulate strategy and drive performance. However, how does FP&A function go about building its brand?
There are different interpretations of finance business partnering. In my opinion, it represents a relationship between finance and other departments in which all of the parties involved professionally deliver what is required and provide support to each other, with the ultimate aim to create value for the organization. For the partnership to work in the long run, there should be a benefit for everyone involved. This is why it is important to have a clear idea about expected outcomes.
Today, software as a service (SaaS) businesses are popular with investors, lenders and customers. Many software companies have transmuted their pricing models from perpetual license models to subscription models. Finance business partners are important in subscription environments. In this article, you will find sample questions an FP&A business partner can help answer to accelerate the growth trajectory in a SaaS enterprise.