FP&A
Level-up your business partnering skills
Want to enhance your business partnering skills? We’ve collated these insights to help you on your journey to becoming a better business partner.
Are you looking to enhance your business partnering skills? We have gathered valuable insights to guide you on your journey to becoming a better business partner. From the impact of unsatisfactory decision-making to the key competencies required for successful finance business partnering, we delve into expert recommendations and practices that can help you deliver tangible business value.
- According to Gartner, finance business partnering should consistently support business decision-making to deliver tangible business value. Unsatisfactory decision-making can cost large companies up to 3% of profits
- FM Magazine suggests that key competencies for finance business partnering include intellectual curiosity, commercial acumen, strategic thinking, business insight through analytics, stretching beyond the comfort zone, and bias for action.
- McKinsey recommends strong partnerships for business relationships, as they set a clear foundation and emphasize accountability within and across partner companies. Metrics should be used to gauge success, and partnership strategies should be updated when necessary to create more value.
- The Association for Financial Professionals suggests five practices for effective FP&A teams. The first practice is strong business partnering skills. This allows FP&A teams to transform into a forward-looking function that makes decisions and allocates capital for the future.
- Deloitte UK’s Finance Business Partnering survey found that finance’s strategist and catalyst roles mainly benefit from improved business partnering. This includes making better decisions (76%), enabling strategic initiatives (58%), and improving financial performance (56%)
Richard Freeman
Customer Delivery UK
Richard leads our Client Delivery Team, based in the UK. Out of the office, he’s a crazy keen cyclist and spends hours in the saddle training to become the oldest winner of the Tour de France!
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