How to recognise great Finance Business Partnering?

Perhaps the easiest way to define Finance Business Partnering is to say what it isn’t:

Finance Business Partnering does not mean re-branding your accountants. Or rebranding your traditional Finance Managers as ‘Finance Business Partners’ and sending them out to ‘add value to the business’ armed only with a bit of communication skills training.

Yet this has been the approach taken by many businesses over the years.

While 75% of Finance Directors are struggling with how to make business partnering a success, very few recognise the breadth and scope of change needed in order to excel at business partnering.

What is great Finance Business Partnering?

It’s simple; great Finance Business Partnering is achieved when your finance team is able to challenge and influence business decisions, business strategy and business outcomes, to deliver extraordinary business value.

Yet getting to great is not simple. We’re not just talking about the Group CFO being a partner to the Chief Executive, or the senior Finance Directors partnering with their divisional Business Heads.

We’re talking about establishing a team of talented and integrated finance business partners across your company.

To achieve the greatest results, many things need to be in place inside a Finance organisation, including:

  • having in-depth business knowledge
  • commanding business respect
  • having the self-confidence to challenge business colleagues
  • ensuring time is available for business partnering
  • having business tools and techniques, not just Finance ones
  • talking to business colleagues in their language.

Transforming the role of Finance to become strategic business partners is a complex change journey that takes time.  And most Finance Directors under-estimate the extent of the change needed.

That’s where Arcus Consulting can help.  As specialists in Finance Business Partnering, we do.

We’ve helped more than 50 Finance Directors from large companies to transform their finance functions and deliver business value.  And we’ve worked hard over the years to develop and hone a practical approach to help you and your finance teams to succeed in adding value to your business.

If you’d like to find out more about how our experience could help you please get in touch.

Adrian Willmott,
Managing Director, Arcus Consulting
e:  adrian.willmott@arcusc.com
t: +44 (0) 207 608 5096

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