FP&A Unlocked

Welcome to FP&A Tomorrow, where we discuss financial planning and analysis, examining its current state and future prospects, with your host Paul Barnhurst.

The title sponsor for this week’s episode of FP&A Tomorrow is the Third Generation FP&A Tools Showcase. Join the Showcase and see the latest technology in FP&A planning software. Register for free today at https://www.accelevents.com/e/fpatoolsshowcase

In today’s episode, Paul Barnhurst engages Trevor Anthony, for a fascinating discussion on the evolution of financial planning and analysis (FP&A) and how artificial intelligence (AI) is shaping its future.

Trevor, a seasoned Chief of Staff at FranConnect, excels in transforming FP&A roles into powerful business partnerships that drive organizational success. With a rich background in private equity-backed software companies, Trevor is known for his expertise in creating simple and impactful financial models, he simplifies complex financial data into actionable intelligence.

Key takeaways from this week's episode include: :

Here is a concise summary of the key points from the discussion:

• How AI could significantly reduce costs and streamline operational processes, positioning FP&A to be more efficient and strategically integral to businesses.

• The importance of mastering the skill of creating clean and straightforward financial models for FP&A professionals. By prioritizing simplicity and clarity, these models become crucial tools for delivering precise financial data for business insights.

• The value of experience, mentorship, and strategic thinking in the evolution of FP&A professionals. It stresses how these elements help transition from traditional analytical roles to more influential positions.

• How private equity (PE) impacts FP&A operations, setting high expectations for teams to act as the definitive source of truth within companies.

• The discussion highlights how PE firms demand thorough, detailed financial reporting and forecasts, reflecting their reliance on FP&A teams to provide thorough insights and accurate analysis to guide investment decisions and business strategies.

• The discussion also highlights the anticipation of a future where AI not only supports but enhances the FP&A functions across various industries.

Quotes:

Here are a few relevant quotes from the episode about the strategic thinking around technology investment, the value of networking, the importance of responsiveness in professional settings, and the encouragement for community engagement:

"The best FP&A groups, I've seen, have solidified themselves as a mission-critical function, not just to check the box type of group."

"First and foremost, keep it simple. I think in the sales process, they demo flashy things... focus on what the tool does."

"The beginning of what I'd call a business partnering relationship was when I'd sit down with the business owner and have to intimately understand their business and their financials."

“Dealing with ambiguity, especially when you're working with senior leaders, they constantly vaguely describe things. You, as a professional, need to understand what that means.”

“If you're like a traditional corporate FP&A person or you're just a data analyst, find those opportunities."

Follow Trevor:

• LinkedIn - https://www.linkedin.com/in/trevoranthony
• Website - https://www.franconnect.com

Follow Paul: 

• Website - https://www.thefpandaguy.com 
• LinkedIn - https://www.linkedin.com/in/thefpandaguy

For CPE credit please go to earmarkcpe.com, listen to the episode, download the app, and answer a few questions. For AFP FPAC certification answer the questions and contact Paul Barnhurst for further details.

Welcome to FP&A Tomorrow, where we discuss financial planning and analysis, examining its current state and future prospects, with your host Paul Barnhurst. 

The title sponsor for this week’s episode of FP&A Tomorrow is Wharton Online, one of the world's leading business schools. The gateway to mastering financial planning and analysis through a rigorous, comprehensive curriculum crafted by industry experts is only a click away- https://wallstreetprep.wharton.upenn.edu

In today’s episode, Paul Barnhurst engages Christian Wattig on the journey into the evolving world of financial planning and analysis.

Christian Wattig, a seasoned FP&A professional and educator. As the program director for the Wharton Online and Wall Street Prep FP&A Certificate, Christian brings a wealth of experience and innovative strategies to the table. He shares how AI and technology are transforming the field.

Key takeaways from this week's episode include: :

Here is a concise summary of the key points from the discussion:

• How excellent FP&A practice hinges on making solid business recommendations from detailed analysis and storytelling, emphasizing the importance of implementing and monitoring these recommendations for impactful outcomes.

• The discussion is on how AI and new planning tools are revolutionizing FP&A by streamlining data collection and reporting, thus allowing analysts to concentrate more on strategic analysis and business partnerships.

• Insights into a career that transitioned from major corporations to spearheading an FP&A education venture, sharing valuable lessons from varied professional experiences.

• Introduction to a new certificate program that merges technical FP&A skills with interpersonal development, designed to equip professionals with comprehensive financial planning and analysis expertise.

• The discussion highlights the importance of digging beyond the surface of financial data to find actionable insights and the art of crafting these insights into stories that drive strategic business decisions.

• The reflection on the personal gratification from teaching and mentoring in FP&A, and anticipation of the future developments in the field as technology and analytical methods advance.

Quotes:

Here are a few relevant quotes from the episode about FP&A skills and making concrete, impactful business recommendations:

"FP&A is at its best when you make a concrete recommendation that helps the business move forward."

"With AI and not just with AI, but also with FP&A and planning tools and software, it will be possible that you don't have to pull data from lots of different sources."

"When you're just taking people and walking them step by step through how I build a financial model from scratch, it's a different way of teaching."

“Give them those metrics, those insights, or you can get them something that gets them at least halfway there. By doing that, you can demonstrate that you want to do more than just cutting budgets and updating forecasts.”

Follow Christian:

• LinkedIn - https://www.linkedin.com/in/christian-wattig/
• Website - https://wallstreetprep.wharton.upenn.edu/

 Follow Paul: 

• Website - https://www.thefpandaguy.com 
• LinkedIn -https://www.linkedin.com/in/thefpandaguy

For CPE credit please go to earmarkcpe.com, listen to the episode, download the app, and answer a few questions.  For AFP FPAC certification answer the questions and contact Paul Barnhurst for further details.

Welcome to FP&A Tomorrow, where we discuss financial planning and analysis, examining its current state and future prospects, with your host Paul Barnhurst. 

The title sponsor for this week’s episode of FP&A Tomorrow is Abacum, the leading mid-market FP&A solution trusted by hundreds of companies to eliminate the spreadsheet struggle. https://www.abacum.io

In today’s episode with Tom Schultz, Paul had an insightful conversation about the evolving landscape of financial planning and analysis (FP&A) and its implications for fractional CFOs.

Tom Schultz, founder and CFO of NextGen CFO, sheds light on the crucial skills behind successful financial analysis and the evolving role of technology in finance. From his extensive experience, Tom shares invaluable insights into transitioning from traditional FP&A roles to becoming a sought-after fractional CFO.

Key takeaways from this week's episode include: :

Here is a concise summary of the key points from the discussion:

• Professionals in financial planning and analysis are tasked with translating real-world events into financial data, forecasting, and modeling these numbers to plan for future outcomes strategically.
• The discussion concerns how advancements like AI and prebuilt dashboards might impact the depth of learning traditionally required in FP&A roles. Integrating new technologies poses challenges and opportunities for professionals in the field.
• The evolution of a career in finance, emphasizing the shift towards providing strategic fractional CFO consultancy.
• With the increasing demand for fractional CFOs, there's a spotlight on the advantageous position of FP&A professionals looking to transition into these roles.
• The intent is to offer a comprehensive resource for those interested in the niche, inspired by numerous informal mentorship interactions.
• The strategic adoption of technology in financial practices, highlighting the importance of aligning technology use with client needs and exploring the capabilities of generative AI to streamline writing and documentation processes in finance.

Quotes:

Here are a few relevant quotes from the episode about FP&A and CFO insights:

"A great FP&A person in my mind is someone who knows what's behind the numbers."

"It's more in private companies that are slow to hire a professional CFO. I think if you're out there fundraising and I've seen pre-revenue hire a fractional CFO just because they need navigation for investors."

"The young people coming into this profession, I'm concerned that they'll take that stuff for granted and learn down to the root that we learned."

"If you look at the CFO in the finance department, the controller and everyone below them tend to look backward in history. The CFO tends to look forward, so the FP&A person is more forward-looking than anyone else in the finance department."

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Follow Tom:    

• LinkedIn - https://www.linkedin.com/in/tom-schultz-5926815
• Website - https://www.nextgencfo.com

 Follow Paul: 

• Website - https://www.thefpandaguy.com 
• LinkedIn - https://www.linkedin.com/in/thefpandaguy

For CPE credit please go to earmarkcpe.com, listen to the episode, download the app, and answer a few questions.  For AFP FPAC certification answer the questions and contact Paul Barnhurst for further details. 

Welcome to FP&A Tomorrow, where we discuss financial planning and analysis, examining its current state and future prospects, with your host Paul Barnhurst.

The title sponsor for this week’s episode of FP&A Tomorrow is Abacum, the leading mid-market FP&A solution trusted by hundreds of companies to eliminate the spreadsheet struggle. https://www.abacum.io

In today’s episode, Paul sits down with Jon Laudie, to discuss integrating FP&A into strategic planning and decision-making across businesses.

With Jon Laudie, CFO at Zerorez, plunge into Financial Planning & Analysis (FP&A) and learn from Jon's rich experience and strategic insights. From his initial roles in investment banking to his current position as CFO, Jon shares his valuable lessons.

Key takeaways from this week's episode include:

Here is a concise summary of the key points from the discussion:

The transition challenges and learnings involved in moving to a CFO position, including dealing with complex financial operations and integrating multiple acquisitions.

FP&A functions are evolving to become more aligned with strategic finance, significantly enhancing their impact on business decision-making.

Emerging technologies are streamlining FP&A processes, making them more efficient and reducing reliance on manual tasks.

Strategies for FP&A professionals to become more strategic and operationally focused are discussed, including building relationships outside of finance and understanding the broader business context.

Quotes:

Here are a few relevant quotes from the episode about FP&A and CFO insights:

“I think great FP&A in my mind is a function that is deeply integrated into the strategic planning and the decision-making of any organization.”

“We still come across things that surprise us, like, 'Oh, we didn't realize how this is or this contract existed.”

Follow Jon:   

• LinkedIn - https://www.linkedin.com/in/jonlaudie
• Website - https://www.zerorez.com

 Follow Paul: 

• Website - https://www.thefpandaguy.com 
• LinkedIn - https://www.linkedin.com/in/thefpandaguy

For CPE credit please go to earmarkcpe.com, listen to the episode, download the app, and answer a few questions. For AFP FPAC certification answer the questions and contact Paul Barnhurst for further details. 

Welcome to FP&A Tomorrow, where we discuss financial planning and analysis, examining its current state and future prospects, with your host Paul Barnhurst. 

The title sponsor for this week’s episode of FP&A Tomorrow is Abacum, the leading mid-market FP&A solution trusted by hundreds of companies to eliminate the spreadsheet struggle. https://www.abacum.io

In today’s episode, Paul engages in a conversation with Richard Tame, to discuss the essential elements that define excellent financial planning and analysis.

Richard, CFO of Coeus Institute, with over 25-plus years of experience in finance across various sectors, including his significant role at Aurora, brings a wealth of knowledge and a unique perspective to the evolving landscape of FP&A.

Key takeaways from this week's episode include: :

Here is a concise summary of the key points from the discussion:

• FP&A is rooted in having the right team. The focus is on hiring the right people with the necessary skills and ensuring they work well together.
• FP&A teams are not just about number crunching, they should also influence business decisions. The ability of FP&A to be involved in strategic discussions varies by company culture, from being central to decision-making to being viewed as a back-office function.
• FP&A professionals adapt their strategies to fit the culture of the company, whether it's a traditional corporation or a fast-paced tech startup.
• It is important to prepare an organization structurally and financially for potential public offerings or other major corporate transitions.

Quotes:

Here are a few relevant quotes from the episode about FP&A mastery:

"I've been in companies whereby finance has a really strong seat at the table and you know, you can't blow your nose unless finance is holding the handkerchief. Then I've been in companies where finance is seen as an inconvenience at best."

"You have to make the relationships not about you. You're there to partner with the business, and invariably the business knows more about the business. You need to have a relationship such that you can influence them. You're serving them."

We had built the company in a way that we would have expected to go public at some point, and one of the things that I'd seen at Lyft, for example, I joined Lyft the day after the IPO, and it became clear that perhaps they hadn't built the infrastructure in the way that they could of to make life easier and that was very messy."

Follow Richard:    

• LinkedIn - https://www.linkedin.com/in/richardtame
• Website - https://coeus.institute

 Follow Paul: 

• Website - https://www.thefpandaguy.com 
• LinkedIn - https://www.linkedin.com/in/thefpandaguy

For CPE credit please go to earmarkcpe.com, listen to the episode, download the app, and answer a few questions.  For AFP FPAC certification answer the questions and contact Paul Barnhurst for further details. 

Welcome to FP&A Tomorrow, where we discuss financial planning and analysis, examining its current state and future prospects, with your host Paul Barnhurst.

The title sponsor for this week’s episode of FP&A Tomorrow is Abacum, the leading mid-market FP&A solution trusted by hundreds of companies to eliminate the spreadsheet struggle. https://www.abacum.io

In today’s episode, Paul engages in a conversation with Carl Seidman to discuss why mastering presentation skills, and understanding the needs of the audience is crucial for excelling in your FP&A career.

Carl is a premier FP&A and Fractional CFO expert, providing financial advisory and leadership development services to top companies including Deloitte, Verizon, and Walmart. Carl is known for his impactful training programs and advisory work that drive success in financial planning and analysis.

Key takeaways from this week's episode include: :

Here is a concise summary of the key points from the discussion:

• In FP&A, the ability to distill complex information into a concise, impactful message is paramount. It's not about how much you know, but what you can communicate effectively.

• The ability to distill complex information into a concise, impactful message is paramount. It's not about how much you know, but what you can communicate effectively.

• FP&A isn't just about numbers, it's about storytelling with data, painting a vivid picture of the financial landscape that guides strategic decisions and drives organizational success

• Anticipating potential disruptions or changes in the business environment is a fundamental aspect of FP&A. By identifying risks and developing strategies to mitigate them, FP&A professionals can help the organization stay ahead and adapt effectively.

Quotes: :

Here are a few relevant quotes from the episode about FP&A and product working together effectively:

"You're not going to go to a nice restaurant and pay a lot of money for a delicious dish, and then have it be delivered in a greasy brown paper bag. Right. So the deliverable matters a whole lot. It can actually significantly dismiss the credibility or value of everything that came up before at that point in time."

"I think that Great FP&A looks like a team of people who are equipped, from a technical standpoint, to be able to execute the kinds of requests that are being asked of them."

“The demands in business, the increasingly fast-moving environment, competition, the risks of getting some of this planning wrong are pushing the need of FP&A to be a whole lot more proactive, a lot more agile, a lot more well rounded and thinking instead of just being about financial planning and reporting."

Follow Carl:   

LinkedIn - https://www.linkedin.com/in/carlseidman

Website - https://seidmanfinancial.com

Follow Paul:

Website - https://www.thefpandaguy.com

LinkedIn - https://www.linkedin.com/in/thefpandaguy

For CPE credit please go to earmarkcpe.com, listen to the episode, download the app, and answer a few questions. For AFP FPAC certification answer the questions and contact Paul Barnhurst for further details.

Welcome to this episode of FP&A Tomorrow, a podcast where we explore the currency state of financial planning and analysis (FP&A) and the future of business operations. Hosted by Paul Barnhurst, also known as the FP&A Guy, this episode is sponsored by Abacum, the leading mid-market FP&A solution. 

This week, we're diving into the crucial relationship between FP&A and product management, featuring insights from three distinguished guests: Dara Goroff, Navya Rehani Gupta, and Urvi Kapadia.

This special episode focuses on the synergy between FP&A and product management, addressing the essential qualities of a fruitful partnership that drives business growth and product success.

A little about our guests:

Dara Goroff: Specializes in product management within the automotive space, currently leading initiatives at I-CAR to standardize collision repair education.

Navya Rehani Gupta: Chief Product Officer at Peek, with a rich background in engineering, finance, and high-growth startups.

Urvi Kapadia: FP&A Manager at Netdocuments, bringing an accounting perspective to tech and product finance, with experience in various industries including manufacturing.

Expect to Learn:

• The Art of Possibility: Understanding how FP&A can support product management through the lens of future potential, not just immediate financials.
• Customer-Centric Financial Planning: The importance of FP&A professionals familiarizing themselves with customer needs and product value propositions.
• Strategic Alignment and Empathy: Both teams striving for mutual understanding and alignment on business objectives to ensure cohesive movement towards shared goals.
• Analytical Collaboration: Leveraging analytical skills in both domains to iterate product features and pricing strategies that align with market demands and financial realities.
• Early Involvement and Transparency: The significance of involving FP&A in product planning stages for better financial planning and risk management.

This episode promises a comprehensive look into how FP&A and product management can collaborate more effectively, emphasizing strategic alignment, empathy, and a shared vision for the future. Whether you're deeply embedded in FP&A, just beginning your journey, or part of a product team, these insights will guide you in fostering stronger, more productive relationships across these critical business functions.

Some Insightful quotes:

On Strategic Partnership:

“True excellence in FP&A comes from not just understanding the numbers, but from understanding the story behind the numbers. It's about being a strategic partner who can translate data into actionable insights." - This highlights the evolving role of FP&A professionals from number crunchers to strategic advisors who can guide decision-making processes.

On Collaboration with Product Management:

"The magic happens when FP&A and product management see the art of the possible together. It’s not just about balancing the books; it’s about understanding and investing in the future of the product." - This quote encapsulates the importance of collaboration between FP&A and product teams, emphasizing a shared vision for innovation and growth.

On Analytical Prowess:

"An FP&A professional’s strength lies in their ability to see beyond the immediate financials to the broader business implications. It’s about connecting the dots in ways that others haven’t yet seen." - This quote reflects the analytical prowess required in FP&A, highlighting the need to provide insights that drive forward-thinking strategies.

On the Importance of Customer Understanding:

"FP&A isn't just about internal metrics and forecasts; it's about deeply understanding the market and customer needs. Our financial planning must align with delivering value to our customers." - This underscores the necessity for FP&A professionals to have a customer-centric approach, ensuring that financial plans are always aligned with customer value.

On Empathy and Alignment:

"Effective FP&A requires empathy towards the teams we partner with. Understanding their challenges and aligning on common goals is essential for moving the business in the right direction together." - This quote highlights the soft skills needed in FP&A, particularly the importance of empathy and alignment with other departments to achieve shared business objectives.

Abacum is the leading mid-market FP&A solution trusted by hundreds of companies to eliminate the spreadsheet struggle. Visit Abacum.io today and multiply the impact of your finance team.

Go to https://earmarkcpe.com, download the app, take the quiz and you can receive CPE credit.

Checkout Our Amazing Guests:

Dara: https://www.linkedin.com/in/dara-goroff-pmp-0228691

Navya: https://www.linkedin.com/in/navyarehani/ 

Urvi: https://www.linkedin.com/in/urvi-kapadia-fpna/

Follow Paul:

Website - https://www.thefpandaguy.com/

LinkedIn - https://www.linkedin.com/in/thefpandaguy/

FP&A Tomorrow is where we discuss what FP&A looks like today and help shape what it should look like tomorrow by interviewing the best and brightest people in FP&A globally.

Go to https://earmarkcpe.com, download the app, take the quiz and you can receive CPE credit.

Follow Paul:

Website - https://www.thefpandaguy.com/

LinkedIn - https://www.linkedin.com/in/thefpandaguy/

TikTok - https://www.tiktok.com/@thefpandaguy

YouTube - https://www.youtube.com/@thefpaguy8376