Datarails’ Post

No system or software does it all when it comes to finance and FP&A. That’s where the real challenge lies – bridging the gap between data and dialogue. Like last mile delivery, the critical phase is the very end where the team takes responsibility for the home stretch. Last Mile FP&A proves out that finance remains a people sport. What makes it work? Check out our latest article! https://lnkd.in/grRUiGFY #FinanceInsights #Finance #LastMile

Too often, we believe technology trumps good process. The reality for finance leaders is that technology rarely serves as the silver bullet, especially against a background of subpar processes. Technology solutions that meet 90% of our needs may have much higher ROI than trying to solve for that last 10%. When it comes to FP&A, the 10% becomes the difference between success and failure in the critical business dialogue dependent upon information flow. As we are now in full swing on The CFO Alliance Q2 roundtable series on Technology Readiness, it is an excellent opportunity to assess where systems should end in finance, and where people/process should begin. Finance is a people sport! #cfos #finance #fpanda #cfoinsights

The one thing every finance professional learns at some point in their career... You are only as good as your system. Early in my career I realized this truth when my to-do list was too long to keep in my head. Then I felt it again when I had too many business partners to manage without a schedule. And again when I had multiple teams reporting to me and needed to keep current on the most critical results. --- At each of these points, I needed to re-evaluate my system. Because the outcomes I got were directly linked to how my system was designed. If you are feeling stuck in your finance role and can't quite figure out why, I created an ebook called The FP&A Operating System that helps you build a better system. Check it out here: https://lnkd.in/ghaUAM7Y

Finance could be a profit driver but is not. Here's how to change it... Finance is perceived as a cost center in most companies. We focus too much on control and compliance. We rarely show ourselves outside the finance office. No one really understands what it is that we do all day. It's time to transform finance into a profit driver. Non-core work gets outsourced. Transactional work gets automated. Private equity steering principles get popular. Big data and analytics give new opportunities. Finance is uniquely positioned to change because we have... ...analytical skills. ...business acumen. ...a cross-value chain perspective. ...access to financial and non-financial data. ...a seat at the table with key decision-makers. Finance business partnering is the answer! Follow these three steps... Define role and mindset -> develop skills -> practice and perform Start by taking the first step today. Become a profit driver tomorrow! PS. What do you find most challenging in becoming a finance business partner? ---------- 🧑💼 I'm a partner at Business Partnering Institute 🆘 Need immediate help in your finance team, call us! 🤝 We increase the influence of your finance team 🔔 To see more content, hit the bell on my profile 📻 Find our #FinanceMaster podcast on your channel 📄 Check out all our templates and cheat sheets here: https://lnkd.in/eC_zuCU4

Wondering why your finance department is struggling to keep up? Having transformed numerous finance teams, I've uncovered the secret: It's not just about crunching numbers. It's about strategic innovation. Picture this: A finance department, traditionally seen as a cost center, evolving into a profit driver. How? 1. Shift from traditional accounting to strategic advising. Finance teams should be the architects of growth, not just the recorders of transactions. 2. Empower your team with technology. Automation and AI aren't just buzzwords; they're tools to unlock efficiency and insight. 3. Cultivate a culture of continuous learning. The finance world is ever-evolving. Staying ahead means embracing new skills and approaches. 4. Bridge the gap between finance and operations. When these two align, the magic happens. Streamlined processes, clearer insights, and better decision-making. The result? ✅ Dramatic cost savings ✅ Sharpened competitive edge ✅ Enhanced financial health But here's the real kicker: It's not just about boosting numbers. It's about fostering a team that's engaged, empowered, and excited about driving change. This is how finance departments become not just a cog in the machine, but the engine of growth. Ready to revamp your finance department and see those profits soar? 📌 Drop a "🚀" in the comments or send me a DM with "PROFIT."

More controversial advice I give to FP&A analysts: 👉 corporate finance ladders in big companies are a pain to climb. - politics - people - long tenure required 👉 but you should probably start your career in one… - deep bench of other analysts to learn from - core training on financial modeling - stable work 👉 but ditch that big company when you’ve learned the ropes. - you’ll learn 100x faster in a smaller company because you’ll wear many hats - you’ll get 100x exposure to the top management - you’ll play a bigger role in decision making _________________ If you want to learn more fundamentals of corporate finance in smaller companies like accounting automation, budget modeling, and cash flow forecasting, download my free 125pg book linked in my bio📕✌️

I believe FP&A is the hottest role in finance. And people should pursue it. Here's my take: The role of FP&A has transformed beyond just crunching numbers. FP&A professionals now need to deeply understand the business, its strategy, and operations to provide actionable insights. Technical financial acumen is important, but the ability to translate data into strategic recommendations is key. In the post-COVID world, FP&A has become even more central to business success. When rapid growth was the priority, FP&A was not always viewed as a strategic imperative. But now, with a greater focus on accountability and return on investment, FP&A teams are tasked with not just controlling costs, but also guiding the business to make smarter, data-driven decisions. Advances in automation are reshaping FP&A, making it a more dynamic and strategic function. As technology handles repetitive, manual tasks, FP&A professionals can devote more time to higher-value activities like financial planning, budgeting, and analysis. This positions them as true business partners, collaborating cross-functionally and driving meaningful impact. The growing importance of FP&A has led to increased career opportunities. Companies are seeking FP&A talent who can bridge the gap between financial data and business strategy. It's a chance to be at the heart of a company, influencing core decisions and shaping the future. Perhaps most importantly, FP&A is a rewarding field where you can make a tangible difference. Whether optimizing budgets, forecasting performance, or leading strategic initiatives, your work has a direct impact on the business's success. It's a chance to be a problem-solver and innovator. So for anyone out there, looking for a career that combines analytical discipline with creative problem-solving, FP&A might just be for you.

All the financial data you compile and analyze means nothing if a client can't understand how it impacts their bottom line and uses it to guide their decision-making. - Are your receivables increasing? - What does that signal about cash flow? - Is this a one-off or a trend that requires action? These are the types of questions accountants must answer. It's not enough to just present data. You need to translate it into an engaging story that clients can actually act on. Whether that means finding cost-saving opportunities, improving margins, or identifying new revenue streams. If you've helped a client truly grasp their numbers and use financial literacy to their competitive advantage, then you've done your job well. You become a true, trusted advisor. The real purpose of accounting is to help business owners hit profitability. 🦒 P.S. Hi, I'm Martin Zych, and I've spent 10 years working in finance, accounting, and tech. I’ve worked as a Controller, Finance Director, and CFO. I helped multiple businesses grow from early startups to established corporations. Both in-house and with outsourced teams. And helped raise over $250 million in funding for clients across the globe.

I believe FP&A is the hottest role in finance. And people should pursue it. Here's my take: The role of FP&A has transformed beyond just crunching numbers. FP&A professionals now need to deeply understand the business, its strategy, and operations to provide actionable insights. Technical financial acumen is important, but the ability to translate data into strategic recommendations is key. In the post-COVID world, FP&A has become even more central to business success. When rapid growth was the priority, FP&A was not always viewed as a strategic imperative. But now, with a greater focus on accountability and return on investment, FP&A teams are tasked with not just controlling costs, but also guiding the business to make smarter, data-driven decisions. Advances in automation are reshaping FP&A, making it a more dynamic and strategic function. As technology handles repetitive, manual tasks, FP&A professionals can devote more time to higher-value activities like financial planning, budgeting, and analysis. This positions them as true business partners, collaborating cross-functionally and driving meaningful impact. The growing importance of FP&A has led to increased career opportunities. Companies are seeking FP&A talent who can bridge the gap between financial data and business strategy. It's a chance to be at the heart of a company, influencing core decisions and shaping the future. Perhaps most importantly, FP&A is a rewarding field where you can make a tangible difference. Whether optimizing budgets, forecasting performance, or leading strategic initiatives, your work has a direct impact on the business's success. It's a chance to be a problem-solver and innovator. So for anyone out there, looking for a career that combines analytical discipline with creative problem-solving, FP&A might just be for you.

The accounting community often holds high standards for its members, which can come across as critical. There's been considerable discussion about who should be able to call themselves a CFO and even who can say they provide accounting. Let’s unpack the CFO role. How I see it is that if you are providing future forward financial data analytics that help guide decisions AND you are the lead of finance then that qualifies. There are people that call themselves CFO’s and don’t provide the above mentioned for their clients; TRUE. However it’s not always because they can’t/won’t/don’t know how, what I have encountered is that it’s usually because the company isn’t ready for future casting yet. As the saying goes “garbage in, garbage out” there have been many instances that CFO’s have to tighten up the BOOOKKEEPING first, then create processes in a CONTROLLER function, build out budgets and forecasts to finally get to the CFO tasks (if ever) Not all CFO’s are created equal….. And that’s a good thing because not all business owners are either