FP&A Tomorrow

Ken Lane, a seasoned financial controller and FP&A professional from Ontario, dives into the evolving landscape of financial planning and analysis. He emphasizes the importance of collaboration across business entities to drive meaningful change. Ken discusses the necessity for mid-market companies to invest in technology to modernize operations, particularly in the post-COVID supply chain context. He also touches on the influence of Gen Z's expectations on tech investments, urging businesses to adapt swiftly to remain competitive.

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 with Andrew Jepson, to discuss the world of Financial Planning and Analysis.Andrew, founder of the FBPteam, has over 20 years of experience in financial planning and analysis, starting his career as an auditor and evolving into a sought-after business partner and trainer. As a passionate advocate for professional development, Andrew has authored a book on business partnering, facilitated numerous training programs worldwide, and is dedicated to elevating the capabilities of finance professionals.Here is a concise summary of the key points from the discussion:The great FP&A professionals go beyond just reporting numbers—they anticipate future trends and needs. This proactive approach is crucial for providing real value to the organization.Transitioning from a focus on being right to being effective is vital. Andrew shares his personal journey of learning to communicate better and build stronger relationships within the business.Business partnering involves working cohesively with other departments to solve real business problems and achieve strategic goals. Andrew outlines a framework for becoming an effective business partner, emphasizing understanding the business, effective communication, and building strong relationships.Time management, perception of finance, and systems and processes are common barriers to effective business partnering. Andrew provides practical advice on how to navigate and overcome these challenges.Mental Health and Work-Life Balance and the importance of seeking professional help. This episode highlights the need for self-awareness and taking care of one's mental health to maintain a successful career in finance.Quotes:Here are a few relevant quotes from the episode "You do have time. What you've got to decide is what you choose to do at that time.”-Andrew Jepson"It's not what you say, it's how you say it. Your energy, all that sort of stuff."-Andrew Jepson"I think FP&A has a spectrum from average to really good. I think the average FP&A person is generally just pumping out numbers to their organization."-Andrew JepsonIn this episode, Andrew shares his journey from auditor to business partner and offers valuable insights into the evolving landscape of FP&A. Remember to prioritize your mental health and continuously seek ways to improve your processes and time management.Link to courses: FP&A Business Partnering (thinkific.com)Modern Microsoft Excel (thinkific.com)Follow Andrew:LinkedIn - https://www.linkedin.com/in/financebusinesspartnering/Website - https://www.thefbpteam.com/Follow Paul: Website - https://www.thefpandaguy.com LinkedIn - https://www.linkedin.com/in/thefpandaguyIn today's episode:[01:01] - Introduction[01:43] - Guest Introduction[02:35] - Defining Great FP&A[03:34] - Anticipation in FP&A[05:21] - Andrew’s Career Journey[08:10] - Importance of Business Partnering[11:45] - Key Skills for FP&A Professionals[15:45] - Transitioning from Being Right to Being Effective[28:10] - Common Themes in FP&A Struggles[43:17] - Rapid Fire Session[50:01] - Get to know the Guest[53:15] - Conclusion

Bonnie Tomei, CFO of Salience Labs and Chief Strategy Officer for K2X, shares her extensive expertise in finance and strategic planning. She discusses how FP&A professionals can act as strategic partners, emphasizing the importance of understanding both internal and external factors. The conversation delves into the transformative role of AI in finance, underlining the necessity for human intelligence. Bonnie highlights the essential skills for aspiring CFOs, including relationship building and strategic thinking, crucial particularly in M&A activities.

Michael Dion, a finance professional, discusses the importance of collaboration in FP&A. He emphasizes using generative AI and Python for data analysis. Automation and AI streamline processes, enhancing efficiency. FP&A professionals must focus on strategic decision-making and integrating data across departments.

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 roundtable discussion with Julio Martinez on how mid-market companies can harness the power of technology, data, and business partnering to drive performance and accountability.Julio, a visionary in the finance world, currently serving as the CEO of Abacum. His passion for innovation and technology makes him a leading voice in transforming the finance sector. With over two decades of experience in finance, investment banking, and fintech, Julio brings unparalleled insights into the evolving landscape of FP&A.Key takeaways from this week's episode include:Here is a concise summary of the key points from the discussion:Effective FP&A requires breaking down traditional silos in finance, fostering collaboration, empathy, and rapport to influence and persuade stakeholders across the organization.Mid-market companies face unique challenges with data volume and complexity. They require tailored solutions that provide sophisticated capabilities without the long implementation times of enterprise-level software.Clean, well-organized data is essential. Many FP&A teams still spend excessive time on data cleaning and assembly, limiting their ability to focus on strategic business partnering.The CFO's role is evolving towards a Chief Performance Officer, integrating strategy, operations, and performance management to drive accountability and execution throughout the organization.There is a growing trend for FP&A to take on revenue operations and data analytics roles, ensuring objective performance analysis and avoiding biases from other departments.Despite advancements in technology, mastery of spreadsheets remains a critical technical skill for FP&A professionals, along with knowledge of SQL and potentially Python for data modeling.Taking a sabbatical can be a powerful, life-changing experience, providing valuable personal and professional growth that can significantly impact one's career trajectory.Quotes:Here are a few relevant quotes from the episode "FP&A will become the command center of the company's operational rhythm.”- Julio Martinez“The mid-market is a very unique, complex, sophisticated, and underserved category.”- Julio Martinez“I think professionals still need to master Excel and Google Sheets and that spreadsheet realm.”- Julio MartinezThis conversation with Julio Martinez offers an in-depth look into the current and future state of FP&A, emphasizing the importance of business partnering and the transformative power of technology. As the FP&A field continues to evolve, professionals can take inspiration from Julio's journey and the innovative approaches discussed in this episode to excel in their roles.Exciting AnnouncementI am excited to share my two new digital FP&A Courses with you FP&A Business Partnering, and Modern Excel. They just launched and I am excited to offer a 20% discount to my listeners using code PODCAST.Link to courses:  FP&A Business Partnering (thinkific.com) Modern Microsoft Excel (thinkific.com)Follow Julio:LinkedIn - https://www.linkedin.com/in/thejuliomartinez/Website - https://www.abacum.io/Follow Paul: Website - https://www.thefpandaguy.com LinkedIn - https://www.linkedin.com/in/thefpandaguyFor 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:[00:50] - Introduction[01:48] - Guest Introduction[03:54] - Blending of Operations in FP&A[04:47] - Guest’s Background and Career Journey[07:00] - The Value of a Sabbatical[09:12] - The Impact of Community in Microfinance[14:57] - Launching Fintech Startups and the Transition to Abacum[18:16] - Why FP&A for a Startup- Motivation from Guest[20:30] - Identifying Key Pain Points in FP&A[23:34] - Mid-Market FP&A Challenges and Opportunities[33:59] - Opportunities in Business Partnering for FP&A[36:00] - Rapid-Fire Session[39:50] - Get to Know Guest[42:22] - Conclusion

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 roundtable discussion with Nathan Kaemingk & Karan Sood on LinkedIn. In the episode, we discuss the nuances of strategic pricing and its immense impact on business profitability.Karan, a seasoned pricing professional, shares his extensive experience across various industries, emphasizing the importance of cross-functional alignment and value-based pricing.Nathan, with a unique background in mechanical engineering and forecasting, highlights the critical role of understanding costs and leveraging pricing strategies to combat inflation and optimize profits.Key takeaways from this week's episode include:Here is a concise summary of the key points from the discussion:Effective pricing requires collaboration between finance, FP&A, and pricing teams. Transparent communication and alignment on goals are essential to ensure cohesive strategies that drive profitability.Value-based pricing is the gold standard, especially in service industries. By quantifying and communicating the value provided to customers, businesses can justify higher prices and enhance profitability.Inflation significantly affects pricing strategies. Companies must adjust prices to keep up with rising costs and maintain profit margins, making strategic pricing more critical than ever.Relying solely on cost-plus pricing can lead to missed opportunities. Understanding customer value and competitive positioning allows for more strategic price setting, rather than simply adding a margin to costs.Constructively using promotions and discounts can drive volume without eroding profit margins. Measuring and optimizing these strategies ensures they contribute positively to overall profitability.Rebates can be effective for maintaining uniform pricing across different channels and incentivizing performance. However, companies must measure and adjust rebate programs regularly to ensure they are beneficial.Accurate forecasting and aligning sales with operational capacity are crucial. Effective sales inventory and operations planning [SIOP] can significantly increase net profit margins by optimizing resource utilization and pricing strategies.Quotes:Here are a few relevant quotes from the episode "The art of pricing goes beyond just number crunching, it goes into cross-functional alignment on what the goals are."“The 1% increase in price leads to an 11% increase in profit margins coming out of McKinsey years ago. It still holds true.”“It's amazing how easy it is to increase profits by being good at pricing.”“Pricing is going to become one of the most important things that we get good at over the next half-decade.”Exciting AnnouncementI am excited to share my two new digital FP&A Courses with you FP&A Business Partnering, and Modern Excel. They launched yesterday and I am excited to offer a 20% discount to my listeners. Use code PODCAST.Link to courses: FP&A Business Partnering (thinkific.com)Modern Microsoft Excel (thinkific.com)Follow Karan:LinkedIn - https://www.linkedin.com/in/soodkaran/Website - https://www.kobo.com/Follow Nathan:LinkedIn - https://www.linkedin.com/in/nathankaemingk/Website - https://www.betterforecasting.com/Follow Paul: Website - https://www.thefpandaguy.com LinkedIn - https://www.linkedin.com/in/thefpandaguyFor 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:[01:10] - Introduction[02:00] - Guest Introduction[03:00] - Misconceptions About Pricing[04:20] - The importance of Value-Based Pricing[07:00] - The Role of FP&A in Pricing[11:40] - Leveraging Digital Courses for FP&A Professionals[12:00] - Guest Backgrounds[18:40] - Impact of Inflation on Pricing[22:00] - Strategies for Competitive Markets[26:30] - Effective Rebate Strategies[31:00] - Collaboration Between Finance and Pricing Teams[36:10] - Rapid-Fire Session[58:30] - Conclusion

Philip Watson, CFO of Paddle and former FP&A leader at ZoomInfo, discusses the evolving skills needed in financial planning amid advancements like AI. He emphasizes the importance of blending technical skills with strong communication and operational involvement. The conversation highlights the power of incremental improvements, effective change management, and the transformative role of FP&A in strategic business discussions. Watson also shares insights on navigating complex global financial landscapes and fostering team dynamics.

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.The title sponsor for this week’s episode of FP&A Tomorrow is Plan Buddies. Plan Buddies, where professionals meet excellence. Ready to elevate your career? Visit plan-buddies.com and become a member today. Here's a special treat. Use the promo code the FP&A Guy, that is TheFPandAGuy for an exclusive 25% discount on your first-year membership.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/tylercyphersWebsite - http://opscipher.comFollow Paul: Website - https://www.thefpandaguy.com LinkedIn - https://www.linkedin.com/in/thefpandaguyFor 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

Welcome to FP&A Tomorrow, where we discuss financial planning and analysis, examining its current state and future prospects, with your host Paul Barnhurst. The title sponsor for this week’s episode of FP&A Tomorrow is the Third Generation FP&A Tools Showcase. Join the Showcase and see the latest technology in FP&A planning software. Register for free today: https://www.accelevents.com/e/fpatoolsshowcaseIn today’s episode, Paul engages in a thought-provoking conversation with the awesome Jim Cook and Winnie Aoieong, for a fascinating discussion on the importance of decision-making systems, the value of trust in business partnerships, and the role of generative AI in modern FP&A.Jim Cook, former CFO of Mozilla with a rich history at Netflix and Intuit, shares his valuable insights on effective decision-making systems and the power of community building.Winnie Aoieong, VP of Business Finance at PowerSchool, discusses her experience in scaling financial operations and the critical balance of technical skills and business communication.Key takeaways from this week's episode include: :Here is a concise summary of the key points from the discussion:Great FP&A goes beyond data analysis to create effective decision-making systems, allowing businesses to make strategic decisions based on comprehensive insights.Building strong, trust-based relationships with business partners is essential for effective collaboration and achieving organizational goals.Discussion on harnessing the power of community and crowdsourcing can significantly enhance problem-solving and innovation within an organization.How to balance technical skills with effective communication is crucial for translating complex financial data into actionable business strategies.Adaptability to embrace a mindset of continuous improvement and learning from failures. Progress over perfection drives long-term success.Utilization of generative AI for tasks like meeting summaries and action item tracking can enhance efficiency and focus on high-value activities.Leadership development within the team and creating a safe environment for challenging assumptions encourages innovation and growth.Quotes:Here are a few relevant quotes from the episode about the importance of decision-making systems, building trust in business partnerships, and the role of generative AI in enhancing FP&A efficiency:"Great FP&A is the balance of technical skills and translating that into actionable plans to communicate with the business.""Ultimately what they're trying to do is partner with their department business unit and create excellent decision-making systems because that's what our data is eventually doing.""A relationship builds on trust. So trust comes from your capacity, your capabilities, but also your way of wanting to build that alliance with whoever you work with.""Mozilla taught me about how powerful communities are. Communities always win." "Perfection is a prison. It's about always progressing and improving because there is always room to get better." Follow Jim:LinkedIn - https://www.linkedin.com/in/cookflixWebsite- https://www.benchboard.comFollow Winnie:LinkedIn - https://www.linkedin.com/in/winnie-aoieong-6852212Website- https://www.powerschool.com Follow Paul: Website - https://www.thefpandaguy.com LinkedIn -https://www.linkedin.com/in/thefpandaguyFor 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:[00:05] Introduction[01:20] Guest’s background[01:28] What Does Great FP&A Look Like?[02:13] Evolution of FP&A[02:45] Future of FP&A[10:30] Scaling a Company[12:00] Leadership Changes[16:00] Role of Finance in Business[21:32] Systems and Chart of Accounts[29:40] Safe Space for Innovation[40:52] FP&A Tools and Generative AI[42:00] Rapid Fire Questions[49:20] Get to Know Our Guests Personally

In today’s episode, Paul engages in an insightful interaction with Julian Castelli, for a discussion about the transformative role of FP&A and evolution from basic finance to a strategic role influencing business decisions and investor relations, highlighting his leadership experiences and the importance of core values.Julian is currently serving as a board director and board chair. With experience as a board director and operating partner many times over, Julian assists SaaS and Marketplace technology companies in areas like strategy, team development, growth execution, fundraising, executive coaching, and board governance. He began his career in investment banking at Goldman Sachs and later worked as a consultant at McKinsey & Company. Key takeaways from this week's episode include: :Here is a concise summary of the key points from the discussion:The competitive dynamics and funding needs of marketplace and SaaS (Software as a Service) businesses. SaaS businesses can be more capital efficient and have multiple successful players compared to winner-take-most marketplaces.The transformative power of adhering to and actively promoting company values, even in crisis, which can galvanize a team and reinforce commitment to the organization's mission and customer service.Growth-stage companies need sophisticated FP&A to meet investor expectations and aid decision-making. FP&A should influence a company's financial and strategic decisions, not just report on them.Promoting company values strengthens internal culture and aligns team actions with the organization's mission. Companies must evolve from managing daily finances to integrating broad strategic financial planning.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 presenting financials in a way that aligns with investor expectations, which is often different from traditional accounting reports. The title sponsor for this week’s episode of FP&A Tomorrow is the Plan Buddies. Join Plan Buddies. Plan Buddies, where professionals meet excellence. This isn't just any community. It is a community run by and for planning professionals. At Plan Buddies we’re all about fostering connections, sharing knowledge, and providing mentorship among FP&A experts. Ready to elevate your career? Visit plan-buddies.com and become a member today. Here's a special treat. Use the promo code the FP&A Guy, that is TheFPandAGuy for an exclusive 25% discount on your first-year membership.Quotes:Here are a few relevant quotes from the episode about FP&A's transition from basic finance to a strategic role, the critical importance of financial planning and analysis, and the influence of leadership and core values in navigating business challenges."So without FP&A, you can't see what's ahead of you.""But if you present a P&L like that [Natural Account Line] to an investor, you might end the meeting right there.""Unfortunately, I'm kind of shocked that the ERPs out there make it so difficult to actually produce financial reporting the way the investors want.""FP&A is not just a luxury; it's essential as you scale and begin dealing with institutional investors."Follow Julian:LinkedIn - https://www.linkedin.com/in/juliancastelli1Follow Paul: Website - https://www.thefpandaguy.com LinkedIn - https://www.linkedin.com/in/thefpandaguyFor 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:[01:16] Introduction[03:20] Guest’s background[05:50] How did previous experiences prepare Julian for FP&A expertise[08:35] Turning critical information into actionable reporting[11:05] How the value of FP&A goes beyond controller or bookkeeping[28:20] Guest’s view about the evolution of FP&A [30:22] Interesting facts and differences between SaaS and Marketplace[41:49] Guest’s career journey and previous experiences[48:27] Upcoming event promotion[49:56] Rapid-fire session[52:24] Guest’s personal insights.[55:27] Advice for being a better business partner [57:27] Conclusion