Whilst there is undoubtedly a need to improve the financial acumen skills of many operational managers so they can make better and more informed financial decisions, training in this area is not going to realise it’s full potential without the proper support from Finance. With digitisation, the role of Finance is (or should be) changing. Transactional accounting and reporting is increasingly being digitised with far more emphasis on greater accessibility to reporting for all. So where is the value add that the Finance team can deliver? As one CFO put it – he wants his team to become ‘Indispensable Business Partners’.
At FTA, we work with both sides of the business. We work alongside Finance to get them more involved in supporting the financial acumen training, as well as work with them on their communication skills and commercial commentaries. Internal finance teams need to see themselves more as internal consultants and you cannot consult from behind a laptop!