Joseph Williams’ Post

Very interesting responses on my recent post Many FP&A professionals have replied on this post over direct messages expressing how they would jump at the opportunity to help shape business transformation journeys only if the Top 3 responsibilities most FP&A roles job descriptions didnt read like this - 1️⃣ Responsibility of the annual budgeting process 2️⃣ Timely reporting of reporting packs and 3️⃣ Participation in key stakeholder meetings Given the strides in the budgeting technology stack it is surprising that FP&A professionals have to dedicate an inordinate amount of time to spreadsheet based budgeting and reporting. 𝘈𝘯𝘥 𝘵𝘩𝘦 𝘪𝘳𝘰𝘯𝘺 𝘪𝘴 𝘵𝘩𝘢𝘵, 𝘵𝘩𝘦 𝘍𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭 𝘗𝘭𝘢𝘯𝘯𝘪𝘯𝘨 𝘢𝘯𝘥 𝘈𝘯𝘢𝘭𝘺𝘴𝘪𝘴 𝘳𝘰𝘭𝘦 𝘥𝘰𝘦𝘴 𝘯𝘰𝘵 𝘩𝘢𝘷𝘦 𝘗𝘭𝘢𝘯𝘯𝘪𝘯𝘨 𝘢𝘯𝘥 𝘈𝘯𝘢𝘭𝘺𝘴𝘪𝘴 𝘢𝘴 𝘵𝘩𝘦 𝘥𝘰𝘮𝘪𝘯𝘢𝘯𝘵 𝘫𝘰𝘣 𝘳𝘦𝘴𝘱𝘰𝘯𝘴𝘪𝘣𝘪𝘭𝘪𝘵𝘺. Looks like FP&A also needs a transformation to start with it . . . #FPandA #transformation #harshtalks

How can FP&A professionals contribute in organisation's transformation journey? The FP&A role has become a rage in the finance world from the sleepy days of sending reporting packs nobody spent more than a minute on to suddenly being on the precipice of business partnership to transform businesses. There's definitely synergies in having FP&A and transformation work side by side. Here's some ideas on how to go about it- 1️⃣ 𝘽𝙪𝙞𝙡𝙙 𝙊𝙗𝙟𝙚𝙘𝙩𝙞𝙫𝙚 𝙑𝙞𝙨𝙞𝙗𝙞𝙡𝙞𝙩𝙮- Start with the basics, show how things stand on the parameters of - timeliness, accuracy and completeness. 𝘛𝘩𝘪𝘴 𝘸𝘪𝘭𝘭 𝘢𝘭𝘴𝘰 𝘯𝘦𝘦𝘥 𝘱𝘭𝘦𝘯𝘵𝘺 𝘰𝘧 𝘩𝘰𝘶𝘴𝘦𝘬𝘦𝘦𝘱𝘪𝘯𝘨 𝘵𝘰 𝘱𝘶𝘵 𝘪𝘯 𝘱𝘭𝘢𝘤𝘦 𝘵𝘩𝘦 𝘳𝘪𝘨𝘩𝘵 𝘮𝘦𝘵𝘳𝘪𝘤𝘴, 𝘥𝘢𝘵𝘢 𝘴𝘰𝘶𝘳𝘤𝘦 𝘪𝘯𝘵𝘦𝘨𝘳𝘪𝘵𝘺 𝘢𝘯𝘥 𝘢𝘷𝘢𝘪𝘭𝘢𝘣𝘪𝘭𝘪𝘵𝘺 𝘢𝘯𝘥 𝘧𝘪𝘯𝘢𝘭𝘭𝘺 𝘥𝘦𝘧𝘪𝘯𝘪𝘯𝘨 𝘸𝘩𝘢𝘵 𝘥𝘰𝘦𝘴 𝘨𝘰𝘰𝘥 𝘭𝘰𝘰𝘬 𝘭𝘪𝘬𝘦. 2️⃣ 𝙐𝙣𝙘𝙤𝙫𝙚𝙧 𝙗𝙪𝙨𝙞𝙣𝙚𝙨𝙨 𝙫𝙖𝙡𝙪𝙚- Tie operationally outcomes with financial outcomes to build a business case for value left on the table. 𝘛𝘩𝘪𝘴 𝘪𝘴 𝘵𝘩𝘦 𝘪𝘯𝘵𝘦𝘳𝘴𝘦𝘤𝘵𝘪𝘰𝘯 𝘱𝘰𝘪𝘯𝘵 𝘸𝘪𝘵𝘩 𝘵𝘳𝘢𝘯𝘴𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯 𝘱𝘳𝘰𝘨𝘳𝘢𝘮𝘴 𝘸𝘩𝘦𝘳𝘦 𝘣𝘰𝘵𝘩 𝘤𝘰𝘳𝘳𝘦𝘭𝘢𝘵𝘪𝘰𝘯 𝘢𝘯𝘥 𝘤𝘢𝘶𝘴𝘢𝘵𝘪𝘰𝘯 𝘤𝘰𝘮𝘦 𝘵𝘰𝘨𝘦𝘵𝘩𝘦𝘳 𝘵𝘰 𝘫𝘶𝘴𝘵𝘪𝘧𝘺 𝘵𝘩𝘦 𝘯𝘦𝘦𝘥 𝘧𝘰𝘳 𝘪𝘯𝘵𝘦𝘳𝘷𝘦𝘯𝘵𝘪𝘰𝘯. 3️⃣ 𝘿𝙧𝙞𝙫𝙚 𝙘𝙤𝙣𝙩𝙞𝙣𝙤𝙪𝙨 𝙞𝙢𝙥𝙧𝙤𝙫𝙚𝙢𝙚𝙣𝙩 𝙖𝙜𝙚𝙣𝙙𝙖- It's about using various platforms to showcase the results of transformation, celebrate success and charting the next course of action. 𝘛𝘩𝘪𝘴 𝘪𝘴 𝘸𝘩𝘦𝘳𝘦 𝘪𝘵 𝘣𝘦𝘤𝘰𝘮𝘦𝘴 𝘳𝘦𝘢𝘭 𝘢𝘴 𝘵𝘳𝘢𝘯𝘴𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯 𝘫𝘰𝘶𝘳𝘯𝘦𝘺𝘴 𝘯𝘦𝘦𝘥 𝘤𝘰𝘯𝘴𝘵𝘢𝘯𝘵 𝘳𝘦𝘪𝘯𝘧𝘰𝘳𝘤𝘦𝘮𝘦𝘯𝘵 𝘵𝘰 𝘦𝘯𝘴𝘶𝘳𝘦 𝘤𝘰𝘮𝘮𝘪𝘵𝘮𝘦𝘯𝘵 𝘵𝘰 𝘵𝘩𝘦 𝘱𝘶𝘳𝘱𝘰𝘴𝘦. Would love to hear from fellow FP&A professionals for more ideas and experiences? . . . . . . #transformation #businesstransformation #finance #FPandA #financebusinesspartner #cfo #harshtalks

Enhancing Organizational Transformation with FP&A Professionals The role of Financial Planning and Analysis (FP&A) professionals has evolved significantly, transitioning from traditional reporting tasks to becoming strategic business partners driving organizational transformation. The synergy between FP&A and transformation efforts can yield powerful results. Here are some key strategies to leverage the expertise of FP&A professionals in the transformation journey: 1️⃣ Build Objective Visibility: Start by assessing the timeliness, accuracy, and completeness of financial data. This transparency is crucial for understanding the metrics, data sources, and financial health of the organization, laying a solid foundation for transformation initiatives. 2️⃣ Uncover Business Value: Connect operational outcomes with financial performance to create a compelling business case for transformation. By highlighting areas where value can be optimized or enhanced, FP&A professionals can bridge the gap between operational decisions and financial impact. 3️⃣ Drive Continuous Improvement Agenda: Utilize various communication channels to share the outcomes of transformation initiatives, recognize achievements, and set the course for future actions. Continuous improvement is key to sustaining the momentum of change and fostering a culture of innovation. By empowering FP&A professionals to play a pivotal role in organizational transformation, companies can harness their analytical skills, financial acumen, and strategic insights to drive sustainable change and business growth. Collaboration between FP&A and transformation teams can lead to more informed decision-making, improved performance, and a competitive edge in today’s dynamic business landscape. 💡📊 #FP&A #TransformationJourney #StrategicPartnership #BusinessValue #ContinuousImprovement

FP&A is the fastest path to the CFO role. A few reasons why: 1. FP&A is the master of the full financial ecosystem, from revenue modeling to cost optimization across every business unit. 2. FP&A is the driving force behind major investment decisions, resource allocation, and growth initiatives. 3. FP&A constantly analyzes industry trends, competitive landscapes, and market dynamics to position the company strategically. 4. FP&A people are masters of judgment. Pure, hard-earned business judgment. FP&A isn't about reporting what happened. It's about why it happened and what should happen next. 5. FP&A sess both the technical and human sides of finance. Analyzing complex data while influencing key stakeholders to make better decisions. When you combine sharp analytical skills with business acumen, you're not just presenting numbers. You're shaping the company's future. So yeah, FP&A is the fastest path to the CFO role. #FPA #CFO

As we conclude our series on FP&A roles, we would like to extend a heartfelt thank you to all our readers. If you're an FP&A professional seeking your next opportunity or looking to explore interim or permanent roles, we would love to hear from you! https://lnkd.in/eUfx6qBQ #recruitingourway #fpa #financialplanningandanalysis #financialplanning #financialanalysis

FP&A leaders are becoming crucial as CFOs balance finance and operations, serving as analytical experts who connect business functions and support strategic planning. Their work focuses on forecasting and scenario planning, making them vital to business strategy. The rise of technology and AI enhances FP&A's importance, though there is a talent shortage in this area. The article highlights the increasing need for skilled FP&A professionals to drive efficiency and maintain a competitive edge. #ModernFinance #FPA #FinanceLeadership #CFOInsights #StrategicPlanning #BusinessAnalytics #DataDrivenDecisions #FinanceTransformation #OperationalExcellence #TechInFinance https://lnkd.in/emxAtagu

Thinking about transitioning from a Controllership or Audit role to FP&A? Having recently navigated this transition myself, allow me to present 3 compelling reasons to switch and 2 considerations to keep in mind: 🌟 Pros: Strategic Superpower: FP&A is beyond crunching numbers, you're infusing every number with narrative. Your insights steer this ship. Aye aye, Captain! 360 degree vision: FP&A gives you a panoramic perspective of the business. You'll need to keep up with not just numbers but also the business operations, market trends, and how/what the competition is doing. Fast-but not-Furious Environment: If you thrive under pressure, FP&A is your playground. You'll constantly be challenged to adapt to changing business conditions and come up with innovative solutions. ⚠️ Considerations: Technical Depth: FP&A requires you to hone your skills beyond traditional accounting. As a Chartered Accountant, you must strike a delicate balance, transitioning into a finance business partner role while maintaining your technical accounting acumen. Stakeholder Management: FP&A involves extensive interaction with various stakeholders. Breaking down complex financial information and translating financial jargon into plain English are must-have skills. If you want every number to tell a story, FP&A is where it's at. Connect with me on Instagram- https://lnkd.in/ecRnb4ba #FP&A #CareerGrowth #FinanceLeadership

Learning from Mentors In the fast-paced world of business, FP&A stands as a cornerstone for strategic decision-making. But what truly makes FP&A effective? It all boils down to 3 essential pillars: 1. Timeliness Timely delivery of reports and data is crucial. It empowers business leaders to make informed decisions at the right moment. Delayed data can lead to missed opportunities and reactive strategies. 2. Accuracy Inaccurate data can lead to misguided decisions and strategic errors. Accuracy is non-negotiable in FP&A. 3. Insights Data without insights is like a puzzle with missing pieces. We must be the storytellers who turn numbers into narratives that inspire and inform. What are your thoughts on these pillars? How do you ensure your FP&A processes excel in these areas? Share your experiences below! #FPnA #FinancialPlanning #ca #charteredaccountant #charteredaccountants

Why I Moved to FP&A Straight from Controllership - And Why You Might Want To As Well Ever wondered what propels you toward the CFO's office? For me, the answer was clear: FP&A. Here’s why it’s a standout choice: 1️⃣FP&A is Your Fast-Track Ticket to CFO Forget the rearview mirror—FP&A is all about driving forward. Think financial modeling, strategy, and decision-making. These skills set you up for leadership, from Finance Manager to CFO. 2️⃣FP&A is the Bridge Between Finance and Strategy Working in FP&A means you’re not just crunching numbers; you’re influencing where the company is headed. You’re the one translating finance into actionable insights that drive business decisions. 3️⃣Endless Variety and Exposure From product profitability to M&A diligence, FP&A is as diverse as it gets. You’ll be forecasting one day, and spearheading a cost-saving initiative the next. It's like a crash course in every corner of the business. Choosing FP&A is choosing growth, variety, and a future-focused career path. And that, to me, was a no-brainer. This picture has got nothing to do with FP&A, but LinkedIn algorithm will show you my post only if I slap my face on it. #finance #career

Speaking anecdotally, I can report that from our perspective, there seems to be a higher element of FP&A in our current engagements. Companies facing higher rates, shorter runways and more time between financing rounds are looking for ways to optimize their organizations.