FP&A Vs Finance Business Partners – Tunc Tezel, VP Group FP&A at Ontex
Jan 23, 2024
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Tunc Tezel, VP Group FP&A at Ontex, shares his experiences managing FP&A during economic crises, the shift to private label manufacturing, coping with the pandemic, and the challenges of data in FP&A work. He also discusses the role of FP&A in supporting ESG, the importance of storytelling in finance, and using technology in the finance industry.
FP&A professionals should focus on building trust through business partnering and effective storytelling, bringing numbers to life and driving positive change within an organization.
Incorporating data-driven innovations and AI into FP&A organizations is a significant challenge and opportunity for professionals, allowing for improved productivity, supply chain management, and decision-making.
Deep dives
The Importance of Business Partnering and Storytelling in FP&A
Business partnering and storytelling are crucial skills for FP&A professionals. By being curious, actively listening, and understanding the operations of the business, FP&A professionals can build trust with their colleagues, suppliers, and customers. Additionally, effective storytelling, bringing numbers to life and providing clear insights, can influence decision-making and drive positive change within an organization. FP&A professionals should focus on continuous learning, asking the right questions, and working with cross-functional teams to fully support and partner with the business.
The Power of Transformational Leaders
Transformational leaders, like Mustafa Kemal Ataturk, the founder of the Turkish Republic, can have a significant impact on society and shape the future. Ataturk's diverse achievements, from military tactics to historical writings, and his remarkable reforms in education, women's rights, and industrialization, showcased his intellectual brilliance and leadership skills. Meeting Ataturk would be a great opportunity to discuss his contributions and share medical insights to potentially extend his life, allowing him to continue making a positive impact on Turkey.
Embracing Data-Driven Innovations and AI
The biggest challenge and opportunity for FP&A professionals is effectively incorporating data-driven innovations and artificial intelligence (AI) into their organizations. Discovering how best to integrate AI, fueled by intelligent data, into the systems and processes of an organization can improve productivity, supply chain management, and customer satisfaction. It is crucial to focus not only on cost savings but also on productivity improvements and informed decision-making for long-term success. FP&A professionals who crack the code and leverage AI effectively will be at the forefront of innovation.
Advice to Aspiring FP&A Professionals
As an aspiring FP&A professional, it is essential to maintain a willingness to learn and never be satisfied with your current knowledge. Embrace feedback and continuously improve by asking questions, making mistakes, and learning from them. Gain a deep understanding of the business by actively engaging with sales reps, visiting customers, and observing the market. Additionally, stay curious about product positioning and promotions by observing consumer behavior during shopping trips. LinkedIn is a great platform to connect and learn from industry professionals, and joining a running group can also provide opportunities for networking and discussions while staying active.
Tunc Tezel has managed FP&A at companies including Ontex, Pladis, British American Tobacco, Procter & Gamble, and Gillette. He has lived and worked in 11 different countries including the UK, Iran, Sub-saharan Africa, Turkey, Latvia, Belgium
Now, Tezel is VP of global FP&A at Ontex, a publicly listed leader in private label manufacturing baby care, feminine care and adult care products for stores including Walmart, Aldi, Lidl,Tesco and Carrefour.
In this episode provides his takeaways from a career at the cutting edge of FP&A:
What do you do with your company’s budget when overnight interest rates hit 3000%. And the Turkish lira was devalued by 60% overnight
How FP&A powers private label manufacturing vs working at big brands
How we coped with the pandemic and the shift to economically challenged consumers trying private labels
Moving from brand ambassadors to product ambassadors
How FP&A is supporting ESG
Business supporting finance managers – should you call them FP&A Managers or
Finance Business Partners (and why it matters)
The challenges of data in FP&A work
FP&A as co-pilot in a rally car
Secrets of bringing the numbers to life Cooking and seafood
Why I would have loved to meet Atatürk, founder of the Turkish Republic
The last thing I asked Google/Chat GPT about my finance work