FP&A Tomorrow The Ultimate FP&A Playbook For Cloud Spend Optimization with Tyler Cyphers
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 today’s episode, Paul engages in an insightful interaction with Tyler Cypher, for a discussion on how generative AI is reshaping FP&A, the importance of business partnering, and optimizing cloud spend.
Tyler, the founder and CEO of OpsCipher, shares his journey from Disney finance intern to leading FP&A at top cybersecurity firms. He is an expert in leveraging generative AI for strategic decision-making. Also a passionate advocate for effective business partnering and optimizing cloud spending.
Key takeaways from this week's episode include:
Here is a concise summary of the key points from the discussion:
- Generative AI simplifies data processing, enabling FP&A teams to focus more on strategic analysis and decision-making, ultimately enhancing their value to the organization.
- Success in FP&A hinges on understanding business challenges, effective communication, and building trust with stakeholders. Being curious and proactive is key to growth.
- Effective cloud spend management requires visibility, collaboration across teams, and financial stewardship from the early stages of product development to avoid unnecessary costs.
- Financial operations play a critical role in managing cloud costs. Establishing a dedicated FinOps team or center of excellence can provide significant benefits.
- How skills from varied roles like investment banking and consulting can enhance FP&A effectiveness. Exposure to various business aspects through FP&A provides a strong foundation for leadership roles.
- The discussion highlights the necessity of mastering copywriting to communicate effectively and set clear expectations with stakeholders. For FP&A professionals this skill helps in selling ideas and managing business relationships successfully.
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Quotes:
Here are a few relevant quotes from the episode
"The people who are the most successful have a genuine curiosity about the business. It's very hard to go into those teams and try to be that analytical value-add extension if you can't understand their challenges."
“If you think about software business, generally, the two biggest expenses are people and then the cost of running the software.”
“FinOps as an organizational structure. So from the first part, I think, it's inherent in the word financial operations. It's a financial stewardship-driven culture in the first place.”
Follow Tyler:
LinkedIn - https://www.linkedin.com/in/tylercyphers
Website - http://opscipher.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.
In today's episode:
(1:20) - Introduction
(01:50) - Guest Introduction
(02:26) - Defining Great FP&A
(05:01) - Impact of Generative AI on FP&A
(06:59) - Future of FP&A with AI
(13:25) - Becoming A Strategic Business Partner
(17:40) - Cash Flow for Coders Newsletter
(21:30) - Optimizing Cloud Spend
(30:12) - Advice for Managing Cloud Spend
(44:12) - Rapid-Fire Session
(46:40) - Essential Skills for FP&A Professionals
(47:40) - Guest’s Personal Insights.
(50:42) - Advice for FP&A Business Partners