As finance leaders, we're at the forefront of an exciting evolution, shaping our roles into strategic powerhouses. This edition of The Finance Fix is all about embracing this change, helping you transition from day-to-day financial tasks to becoming a driver of business strategy.
You'll find essential tips on developing a strategic mindset in FP&A leadership and embedding strategic thinking into the core of your finance operations. Let's navigate this journey together, turning every challenge into an opportunity for growth and innovation.
Happy planning, Christina
|
How to become a driver of business strategy:
Expert tips for finance leaders |
Ryan Fanter
VP, Strategic Finance at Figment |
"Aligning financial plans with the broader business objectives is a key step in becoming a driver of business strategy, but it is sometimes overlooked. As finance leaders, we need to ensure that our financial investments directly support upcoming business goals.
For example, the business might grow or contract by about 20% in the next year, but this doesn't necessarily apply uniformly across all departments. Our role in strategically driving the business involves making informed decisions about where to invest or divest, focusing on areas that align with our overall strategy. This helps us avoid over-investment in areas that don't contribute to the main objectives." |
Kevin Hoopes
Director of Finance at Apartment Therapy Media |
"Thinking strategically means looking at the company in diverse ways. I get excited about this, especially when using tools like FP&A software for budgets, and then realizing the potential of integrating our HR, financial, and CRM systems. This integration allows us to analyze data in ways we couldn't with just an ERP or QuickBooks.
Using powerful tools to bring everything together and support the decisions made at the top is how we can really unlock the most value in finance." |
Christina Ross
3x CFO turned CEO of Cube |
"Allocating capital is one of the key roles of the finance org, and a clear way to tie strategy to the financials. Having a deep understanding of what drives revenue and cost is a good place to start, but being able to prioritize and communicate which investments can drive future growth is what makes a finance leader stand out." |
You've heard from the experts. Now, we want to hear from you!
Send us your thoughts and get a free coffee. |
Essential reads: How to elevate the finance function |
1. The future of strategic finance: a definitive guide for FP&A leaders |
Looking to transition from day-to-day financial tasks to becoming a driver of business strategy? This guide is a great companion in navigating this transition. It contains lots of effective strategies for building a finance function that's resilient and future-ready. Highly recommend giving it a read. |
2. 20 steps to master strategic financial leadership |
|