introduction to finance business partnering

Introduction to Finance Business Partnering

- Fad or Value Add?Presented by Andi Lonnen

Disclaimer

The material and content for this course has been prepared for the benefit of thecourse delegates. The materials and content are intended for training purposes only,do not constitute advice and should not be circulated or be used for the purpose ofadvising clients.

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Aims of this masterclass:

• What is a Finance Business Partner (FBP)?

• Explore what the research says

• How does this differ from the traditional accounting role?

• Why the change?

• Learn our unique 9 Cs FBP Formula™ model

Meet Andi!

• Fully qualified ACCA accountant (FCCA)• Experienced to Commercial Finance Director level• International trainer & conference speaker• Author: Finance & cycle-touring books!

• Chaired various ACCA networks• Articles published: incl Financial Director, FT Adviser,

Business Money, Women Leaders Association & others

• CEO, Finance Training Academy & Finance Business Partner Academy

From Bean Counter….

How are accountants viewed?

What words do other people use to describe ‘typical’ accountants?!

….to Business Partner!

From Bean Counter to Business Partner®

Go find where those beans are grown!

Finance Business Partner (FBP)

• What does the term ‘business partner’ mean to you? What key skills are required?

• What are the key differences between a FBP & a traditional management accountant?

• Are your technical finance skills still required?

What is a Finance Business Partner?

KPMG & CIMA Report

Ernst & Young Report

Deloitte Report

ACCA High Performing Finance Teams

• Hindsight

• Oversight

• Insight

• Foresight

PWC: Finance as a Business Partner

Business Skills – value adding activities

Reactive ProactiveScorekeeper

Accounting Skills – mandatory activities

PWC: Finance as a Business Partner

Business Skills – value adding activities

Reactive Proactive

Scorekeeper Caretaker

Accounting Skills – mandatory activities

PWC: Finance as a Business Partner

Business Skills – value adding activities

Reactive

Commentator

Proactive

Scorekeeper Caretaker

Accounting Skills – mandatory activities

PWC: Finance as a Business Partner

Business Skills – value adding activities

Reactive

Commentator Business Partner

Proactive

Scorekeeper Caretaker

Accounting Skills – mandatory activities

KPMG International Research Report

Business Partner Skillset

• Strategic – big picture, forward looking

• Commercial – business understanding

• Strong communication & presentation skills

• Ability to influence & challenge

• Relationship-building, networking

• Motivation – self & others

• Keen mind for acquiring & using knowledge

• Technical know-how (but not number-crunching)

Orion Partners

Very best business partners have:

– Self belief

– Independence

–Business acumen

–Relationships

–Business results delivery

Traditional Accountant vs FBP

Reasons

Why do you think this changing role has come about?

Risks

Why might business partnering NOT work in organisations?

Everyone a Business Partner?

Does everyone in the finance team need to be a business partner?

Our Unique FBP Formula™

9 Cs FBP Formula™

- for FBP success!

1. Connect & Collaborate

2. Communicating Financial Information Effectively

3. Clear Strategic Thinker

4. Commercial Acumen

5. Change Agent & Challenge the Status Quo

6. Computer / Digital / Automation

7. Curiosity, Creativity & Can-Do Attitude

8. Calm, Confident, in Control

Smile!!

9. Competent Finance Professional

What we’ve covered

• What is a Finance Business Partner (FBP)?

• Explore what the research says

• How does this differ from the traditional accounting role?

• Why the change?

• Learn our unique 9 Cs FBP Formula™ model

Make things happen!

“You can’t build a reputation on what you’re going to do”

- Henry Ford

You have completed the Introduction to Finance Business

Partnering – Fad or Value Addmasterclass!