Tolga Hocanin shares lessons from 20 years of budgeting, importance of mix management in CPG, running IT and finance as CFO, building strong team culture, $1.5M reporting error response, and building cross-functional relationships.
Importance of understanding the 'why' behind tasks in financial planning for better decision-making.
Building cross-functional relationships with business partners leads to improved collaboration and transparency for better results.
Deep dives
Learning from Budgeting Mistakes
Starting his career as an FPA analyst, Toga reflects on a challenging budgeting experience early on. Overconfident and lacking in questioning, he made critical mistakes in costing for various parts of the business. This experience taught him the importance of not making assumptions, asking questions, and seeking help when unsure, shaping his approach to budgeting over the next 20 years.
Empathy and Understanding the 'Why'
Toga emphasizes the significance of understanding the 'why' behind tasks in financial planning and analysis. By explaining the value of not just the 'what', but the 'why' to his team, he encourages deeper understanding and connection to the outcomes, fostering better decision-making and alignment of efforts.
Building Cross-Functional Trust
In his leadership, Toga underscores the importance of building trust across functional teams. By taking the time to understand others' businesses, asking relevant questions, and showing vested interest, he establishes strong partnerships that lead to improved collaboration and transparency, ensuring better results and a cohesive working environment.
Continuous Learning and Change Management
Drawing from a strategic moment early in his career, Toga highlights the power of mix management in boosting gross profits for sales accounts. By sharing best practices and encouraging adaptive sales approaches, he enabled positive business change that impacted both profitability and product sales growth, demonstrating the value of strategic insights in driving organizational evolution.
Tolga Hocanin, CFO & Vice President, Finance & IT at Lindt & Sprüngli (Canada) gives a masterclass in CPG FP&A from his experience at PepsiCo and chocolatier, Lindt.
In this episode:
Lessons from 20 years of budgeting and how my first budget was a nightmare
Why budgeting is not just a math exercise
The main metrics you need to know in CPG
Why mix management is crucial
The 30-60-90 day plan to succeed in finance in CPG
Running both IT and finance as CFO and why this makes sense
Building a strong culture in a finance team
Starting with why in finance
A $1.5M reporting error and how I responded to it
Building cross-functional relationships with business partners
Follow and connect with Tolga Hocanin on Linkedin: https://www.linkedin.com/in/tolga-hocanin-cpa-cma-2958008/
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