Trishla Maniar (CA, CPA)’s Post

FP&A teams are at the forefront of collaboration between teams to understand and convert information into numbers and results. Collaborating with other teams can drive better budgeting, leading to improved company performance. Here are my insights on how FP&A teams can collaborate with other teams for better budgeting: - Align revenue forecasts with market trends by collaborating with sales teams. - Optimize production and cost structures by working with operations teams. - Engage marketing teams for data-driven campaign budgeting and analysis. - Integrate workforce planning into overall financial strategies by partnering with HR. - Implement budgeting software and tools by fostering collaboration with IT. By working together, FP&A teams and other teams can achieve better budgeting and drive improved company performance. What are your thoughts? Let me know in the comments below #fpna #Collaboration #BetterBudgeting #ImprovedPerformance #budgeting #cima #icai #finance #innovation

I really appreciate this article! This is an article I wish I had stumbled across early in my finance and accounting career as it certainly would have helped navigate the corporate finance landscape. The details of each role, the differences between them, and how they work together are definitely something to consider. Not only do they provide insight into two different areas of finance you can focus on, but they also show how you can leverage each role. I believe this relationship, and the importance of it, are often overlooked.

📊 FP&A vs. Finance Controller: Two essential roles shaping business decisions. See how forecasting and reporting differ across pivotal industries like manufacturing, technology, healthcare, and retail. 💼💡 Read the full article to dive deeper! 👉 https://bit.ly/4gxIAGG #FinanceCareers #FPAvsController #FinancialInsights

Controller generally performs both roles today..

FP&A thoughts: Support mindset In FP&A, it’s our job to determine why the business is moving in a given direction. Often, that means we need to ask our cross-functional business partner to do things that add to their already busy schedule. That’s why supporting our business partners is so important when the opportunity presents itself. If we keep asking without giving anything in return, it hurts our relationships in the long run. Once the relationship is damaged, it’s less likely that people will go out of their way to help us or share more information than they need to. What are ways you can support your business partners? * Ask if there are any pain points with the monthly close process you lead. There are ways to make it easier for people most of the time. Sometimes, a lack of understanding of the process causes confusion and unnecessary rework for our business partners. Taking the time to explain it can go a long way. * Do your business partners need more visibility of the results you are reporting? Perhaps there is a KPI that you can start tracking. Ask what metrics your business partners want to see in an ideal world. Sometimes, people think certain things are impossible to know because they don’t currently have them. * Check in regularly to see if the Finance team can do anything to help them succeed with their goals. It helps to have regular 1:1s scheduled ahead of time, to have a standing meeting. Otherwise, it’s too easy to forget to connect during busy times. That’s especially important when we don’t automatically run into each other since people work from home most of the time.

🤝 FP&A Critique Series - Elevating FP&A’s Strategic Impact 🤝 As we address the critiques on the role of the FP&A professional and the use of tools, and as companies adopt the forecast mode, the final cherry on the cake is to position FP&A as a strategic partner. To drive significant strategic value, this requires a shift in mindset and culture. For Finance to become a true Strategic Business Partner, it must lead the strategy process. 🔹 Current Challenge: FP&A is not fully integrated into the strategic decision-making process. 🔹 Opportunity: Position FP&A as a core strategic partner within the organization. 🔹 Action Plan: 1 Promote a performance-focused corporate culture. 2 Enhance collaboration between FP&A and other departments. 3 Develop a context-sensitive approach to the strategy process. 4 Ensure FP&A is leading the strategy process. Next week, we will delve into the intricacies of the strategy process (# 3&4). #FP&A #Finance #StrategicPlanning #BusinessPartner #CorporateCulture #Strategy

How often do we measure our own performance in FP&A? Who, not just What Gets Measured. In this short highlight clip from my intervew with Andrew Codd, he dives into the crucial topic of self-assessment within finance teams. A link to the clip is in the comments. In a world that never stops changing, it's not just about keeping pace, but ensuring every team member is aligned and moving in the same direction. Discover simple yet effective ways to gauge success and foster a united, engaged finance team. Ready to transform your approach and fast-track your FP&A career with more insights? Click to subscribe now: https://lnkd.in/eRweABZM #FPandA #CareerGrowth #TeamEngagement #SuccessMeasurement

How often do we measure our own performance in FP&A? Who, not just What Gets Measured. In this short highlight clip from my intervew with Andrew Codd, he dives into the crucial topic of self-assessment within finance teams. A link to the clip is in the comments. In a world that never stops changing, it's not just about keeping pace, but ensuring every team member is aligned and moving in the same direction. Discover simple yet effective ways to gauge success and foster a united, engaged finance team. Ready to transform your approach and fast-track your FP&A career with more insights? Click to subscribe now: https://lnkd.in/eHH5PRb8 #FPandA #CareerGrowth #TeamEngagement #SuccessMeasurement

The other day, I spoke with a finance director who shared how FP&A completely transformed how their sales and marketing teams work together. He said, “For the first time, every department feels like they’re on the same page with our goals.” And that’s the essence of great FP&A—we’re the ones who break down silos, ensuring every department is aligned with the business’s financial objectives. It was eye-opening to hear how real-time financial insights have unified their operations, enabling them to make decisions faster and push for smarter growth across the board. When FP&A helps drive collaboration, it’s not just finance winning—it’s the whole company. What’s your team doing to foster collaboration? #FP&A #Collaboration #Teamwork #Finance #Agility #BusinessAlignment

How important FP&A really is? In my experience with FP&A so far, the most important learning has been that FP&A is not just a finance thing—it impacts every part of the business. Here's how I’ve seen FP&A play a wider role: 🔍 Management: Provides data-driven insights for smarter decision-making. 📈 Operations: Analyzes processes to optimize efficiency at reduced costs. 🎯 Marketing: Sets targets and ensures accurate campaign budget allocation for maximum impact. 💡 Human Resources: Helps plan recruitment needs based on sales forecasts. 📊 Sales: Identifies industry trends and new opportunities to improve sales performance. FP&A isn't just about projections, in fact that is just the starting point. It's about empowering every team to achieve their best. Looking for further insights on this thought from all FP&A experts. #Finance #FP&A #FinancialPlanningAnalysis #BusinessGrowth #TeamSuccess