The Core of Effective FP&A: Partnerships and Operations

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

In this episode of FP&A Tomorrow, host Paul Barnhurst dives into the evolving role of FP&A (Financial Planning & Analysis) within organizations. The discussion focuses on the shift towards a more strategic and operations-focused approach to finance, exploring how modern finance professionals can become indispensable business partners. The conversation also touches on the concept of a "finance athlete" and the importance of being versatile and adaptable in today's dynamic business environment.

This week’s guest is Zach Rial, the Senior Director of Finance and Strategy at Peak, a travel company based in Salt Lake City, Utah. With a background in finance, holding a bachelor's degree from Utah State and an MBA from the University of Utah, Zach brings a unique perspective to FP&A, blending operational insights with financial strategy. Known for his hands-on approach to finance, Zach shares his journey from operations to senior finance roles, emphasizing the importance of understanding the business from the ground up.

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

1. What defines great FP&A and why partnerships are crucial for financial success.
2. The concept of a "finance athlete" and how it applies to modern finance roles.
3. The importance of intellectual curiosity and its role in driving business insights.
4. How to manage tough conversations in the workplace with transparency and trust.
5. The evolving role of finance professionals in strategic decision-making and operations.

Quotes:

Here are a few relevant quotes from the episode 

• "Great FP&A is about great partnerships. It’s understanding the business, what drives different departments, and being a great partner to make things better." - Zach Rial
• "A finance athlete is someone who says, ‘I do finance,’ and that means many different things. It’s about helping the business in whatever way is needed." - Zach Rial
• "I consider myself an unusual finance person because I approach finance from an operations perspective—always asking, ‘What does this mean for the business?’” - Zach Rial
• "Finance is finance. Whether it's a software company or consumer goods, if you understand what drives the business, you can adapt and succeed." - Zach Rial

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Follow Zach:

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

Follow Paul:

Website - https://www.thefpandaguy.com 

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

Enroll for Financial Planning & Analysis Certificate Program:

Level up your career and build skills for financial planning and analysis. Sign up for the 8 week online financial planning & analysis certificate program by Wharton Online and learn the art of forecasting, analysis, business partnering and financial storytelling: https://bit.ly/4debs46

Earn Your CPE Credit

For CPE credit please go to earmarkcpe.com, listen to the episode, download the app, and answer a few questions and earn your CPE certification. To earn education credits for FPAC Certificate, take the quiz on earmark and contact Paul Barnhurst for further details.

In today's episode:

[01:36] - Paul Barnhurst introduces the episode and the guest, Zach Rial.

[02:27] - Overview of Zach Rial’s background and his approach to FP&A.

[04:46] - Discussion about Zach’s unique path from operations to finance.

[11:05] - Explanation of the "finance athlete" concept and its significance.

[15:29] - Exploration of how modern CFOs are becoming more like CEOs, blending operations with finance.

[26:34] - The role of finance in RevOps and how these functions can collaborate effectively.

[34:37] - Zach shares his approach to handling difficult discussions in the workplace.

[39:26] - Quick insights into essential skills and the future of FP&A.

[42:52] - Personal insights into Zach’s hobbies, favorite books, and life philosophies.

[46:44] - Final thoughts and closing remarks from Paul Barnhurst.