Driving Collaborative Strategy
A recent survey by Deloitte stated that 82% of businesses see a distinct need to increase the partnering of finance with other key business functions. The benefits of this are huge, including driving collaborative strategy and making informed business decisions. The need for strong business partnering is more prevalent then other post the financial crisis of 2007 -08. Finance business partnering is increasingly viewed as the most effective way for in house finance teams to add value.
- The explosion in the quantity and variety of data available
- Commercial demands of new business models
- Opportunities presented by digital transformation
Responses from the Deloitte Finance Business Partnering survey mirror the challenges we see in practice:
- The tangible value of partnering activities is not well understood, making it difficult to identify priorities and focus areas for developing Finance Business Partnering capabilities.
- Internal information is frequently not credible or accessible, and external data is not commonly considered a key input for Finance Business Partners, meaning that they do not have the tools that support them in making good decisions.
- Leaders recognise that partnering often requires a new set of skills and behaviours within their teams, but are unclear about what competencies people do need, and how to develop and retain this different talent pool.
Global FPA specialize in helping to provide and facilitate the link between Finance, Sales, Human Capital, Marketing and IT, through our consultative approach and leading MI capabilities. Please feel free to contact us to discuss this or any of our other offerings or to arrange your no fee face to face consultancy day.