FP&A from Fortune 100 to Scrappy Startups – Mike Dion
Apr 9, 2025
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In this engaging discussion, Mike Dion, a seasoned finance leader with a rich background spanning Fortune 100 companies and startups, reveals his insights on enhancing organizational efficiency. He shares how automation has allowed him to unlock tens of millions in value. The conversation explores the evolution of finance through AI, dynamic modeling secrets, and the challenges teams face with forecasts. Additionally, Mike emphasizes the importance of simple, approachable finance content and even shares a hint about his favorite Excel function.
Mike Dion emphasizes the importance of automation in FP&A processes, demonstrating how it can significantly reduce labor hours and enhance efficiency.
The introduction of F9 Finance highlights the need for accessible resources on automation tools, empowering finance professionals to optimize workflows without extensive investments.
With the rise of AI, FP&A professionals must adapt to changing roles by developing data science skills to effectively leverage technology in their work.
Deep dives
Career Path and Automation in Finance
The discussion highlights the speaker's journey in finance, starting from his college days when he discovered a passion for the subject during an Introduction to Finance course. This enthusiasm led to early roles in FP&A, where he utilized automation to streamline processes and enhance efficiency. Working across various industries, from media to startups and telecom, he has emphasized the significance of technology in optimizing financial operations. His experiences include automating forecasting and reporting processes, significantly reducing labor hours and increasing the overall effectiveness of finance teams.
Challenges in Modern FP&A
The podcast addresses the evolving challenges faced by FP&A teams today, particularly the increasing demands for dynamic modeling and scenario planning following the COVID-19 pandemic. As businesses grow more volatile, FP&A professionals are now expected to provide actionable insights and participate actively in decision-making processes. Despite resource constraints, teams must adapt by adopting automation and leveraging available tools to enhance efficiency. The speaker underscores that teams that do not adapt risk becoming outdated as technological advancements reshape the finance landscape.
F9 Finance and Accessible Automation
The speaker introduces F9 Finance, a platform designed to support finance professionals in learning about automation and optimizing their workflows. He emphasizes the lack of approachable finance content regarding automation tools, which has resulted in many professionals being unaware of valuable resources like Power Query. F9 Finance aims to bridge this gap by providing accessible training and tutorials to empower finance teams. By increasing awareness and understanding of these tools, the platform helps finance professionals enhance their productivity without heavy investment in expensive software or coding skills.
Common Pitfalls in Manual Processes
Several common pitfalls in manual FP&A processes are outlined, particularly in forecasting and variance analysis. Inaccurate data sourcing, errors in manual consolidation, and overwhelming detail often plague finance teams, hindering their ability to deliver strategic insights. Automation solutions are presented as remedies to these challenges, with practical examples provided, such as using Power Query for data management. The speaker cautions against being trapped in outdated manual workflows and encourages professionals to leverage technology for efficiency and accuracy.
Transforming FP&A Workflows with AI
The potential impact of AI on FP&A workflows in the coming years is explored, especially concerning the future of entry-level positions in finance. As automation increases, the speaker anticipates a decline in traditional analyst roles, emphasizing the need for professionals to develop skills in data science and automation. Understanding how AI works will enhance the effectiveness of finance professionals, enabling them to leverage tools strategically rather than merely relying on reports. The conversation underscores a pivotal shift required in finance education and training to prepare for a more automated future.
Mike Dion works at a Fortune 100 company. He has previously worked as a finance leader at Verizon-as well as startups and as a mentor to enterprise giants to scrappy startups—unlocking tens of millions of dollars in value across industries like Entertainment and Telecom. He does this through Mike’s F9 Finance: a no nonsense website and newsletter (with 20k subscribers) passing on the skills that have accelerated his career, providing a guide to new tools (based on his experience automating 100,000 hours of labour) and secrets to promotion. He tells Glenn Hopper: “Three things, increasing revenue, decreasing expenses, and making your leaders look good. Those are the three things that move your career, not the reports, not the forecast tools to get to that.”
In this episode
Passion in media and entertainment
putting in our first consolidated planning system
At Verizon starting a center of Excellence (after facing a situation where 40 VPs wanted 30 decks based on Excel files
Lack of approachable finance content: introducing Mike’s F9 Finanance
Secrets to dynamic modeling and scenario planning
3 Ways teams are getting overwhelmed with forecasts
