FP&A as the Strategic Backbone: Enrique Rodriguez, Walgreens Boots Alliance

Dec 26, 2024

In this insightful conversation, Enrique Rodriguez, a multilingual finance director with over 15 years in Fortune 100 companies, shares his journey from Guatemala to a leadership role at Walgreens Boots Alliance. He highlights how FP&A transcends mere number-crunching, becoming a vital storytelling tool for influencing strategic decisions. Enrique discusses the importance of zero-based budgeting for cost control, key financial metrics for healthcare, and the role of AI in shaping the future of finance, all while emphasizing the need for stakeholder alignment and empathetic partnerships.

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INSIGHT

FP&A As The Strategic Backbone

Enrique describes FP&A as more than number-crunching: it's storytelling that influences the future.
He calls FP&A the strategic backbone that enables transformative projects across functions.

INSIGHT

Long Timelines Define Biopharma Finance

Biopharma finance must manage very long lead times (10–12 years) and heavy R&D and regulatory impacts.
Key metrics include gross margin by product, cash burn, and working capital efficiency.

ADVICE

Make FP&A Outputs Actionable

Integrate FP&A with other functions and produce dynamic scenario planning and KPI dashboards.
Prioritize agility and actionable insights to guide executive decisions.

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“I transitioned into FP&A when I realized that it wasn’t just about crunching the numbers, it was more about telling a story and trying to influence the future. Working with Fortune 100 companies has given me the fantastic platform to leave transformative projects in finance, procurement, and supply chain. I saw firsthand how FP&A acts as the strategic backbone of any type of organization”

– Enrique Rodriguez, Finance Director, Walgreens Boots Alliance

Enrique Rodriguez is a multilingual finance director and business leader. With more than 15 years of experience in Fortune 100 companies, he has worked collaboratively with global functions directing FP&A, accounting and treasury teams. He’s headed finance departments overseeing $7 billion in annual spend and managing operational budgets of up to $750 million in billion dollar business units and is a passionate believer in Zero Based Budgeting revealing how he implemented this – despite challenges.

My background in Guatemala
When I realized it is not just about crunching the numbers
FP&A as the backbone of the institution
Main financial metrics bio biopharmaceutical companies, medical devices, and healthcare companies
How FP&A departments are set up at the companies you worked for – and the philosophy and the outputs expected from FP&A
producing outputs like dynamic scenario planning and specific KPI dashboards guiding decisions at the highest level.
Zero based budgeting – the why and how of our experience
Biggest challenges I have seen in budgeting in my career – managing budgets during a turnaround
How finance business partnering has changed in my career
The problem solving aspect of FP&A
The opportunities and challenges of fast-growing technology
Saving $8million on inventory write-off in a country on a health product
Financial Executives International (Chicago)
The power of a great mentor and books: Hit Refresh Satya Nadella (Microsoft) and Shoe Dog (Joe Knight)
supporting a procurement organization in, in an early level of maturity – my toughest challenge
Index Match – more flexible and scalable for complex analysis

Connect with Enrique Rodriguez on LinkedIn: https://www.linkedin.com/in/enrique-a-rodriguez/