Former senior director of strategy and finance at Chili Piper, Mikus Krams, argues against budgets, emphasizing the irrelevance for small agile companies. He discusses bottom-up planning, the flaws of budgets, managing incentives through a Rev Ops approach, and the importance of continuous forecasting. Krams also shares his biggest failure in FP&A, the power of banking in a career, and the value of lunch with business leaders.

“I would like to see FP&A drive the planning process for go- to-market just because I think they will have a better natural understanding of what it means to actually build a plan.” Scott Stouffer, a former engineer, is a serial entrepreneur and founder. Currently he is CEO and Founder at scaleMatters, the world’s first Go-to-Market Optimization Platform. Previously, he executed the sale of Salsa Labs, a non profit CRM to PE firm Accel-KKR at a period of $12MM annual revenue and 70 employees. In this wide-ranging interview he reveals the real impact he believes CEOs, such as himself, are looking for in choosing CFOs and building a finance team. He also argues for  a bigger role for FP&A – including leadership of a company’s go-to-market strategy incorporating how an organization can engage with customers to convince them to buy their product or service.  This interview covers Scott’s roadmap for growth leading fast-scaling companies Why many CFOs are “glorified controllers” (and why that is a problem) How FP&A can prevent sales and marketing teams “from winging it” by bringing the “analytical brain power” to the  The power of a good plan in a fast-scaling business Should Rev Ops and Data be owned by the CFO How FP&A should be the first port of call in building a companies Go-to-Market strategy  How finance teams can work better with sales teams and better modeling sales capacity Why in 60% of cases companies have too many sales people by failing to do proper modeling Why you need to hone self-confidence as a skillset Read the full transcript and blog Follow Scott Stouffer on LinkedIn Follow Paul Barnhurst on LinkedIn Follow Datarails on LinkedIn FP&A Today is brought to you by Datarails. Datarails is the financial planning and analysis platform that automates data consolidation, reporting and planning, while enabling finance teams to continue using their own Excel spreadsheets and financial models. Get in touch at www.datarails.com For AFP FP&A Continuing Education credit please complete the course via the Earmark Ap, must pass the quiz with 80% accuracy and send the completed certificate to pbarnhust@thefpandaguy.com for issuance of 1 hour of credit toward your AFP FP&A Certification. 

The second-biggest bank collapse in U.S. history created a storm for CFOs and their finance teams during a panic-induced 48 hours in March. It only ended as regulators took control of Santa Clara, Calif.-based SVB and a dramatic intervention by financial regulators. In this special edition of FP&A Today, meet those in finance and FP&A who saw the events at Silicon Valley Bank first hand. Understand how the banking crisis played out and how ongoing ripples continue to impact everyone in FP&A and how your finance teams can cope with the ongoing aftermath. The panel: Josh Aharonoff (aka Your CFO Guy), CEO and Founder, Mighty Digits had many clients banking with SVB and had to make quick decisions as news broke. He shares Finance & Accounting Best Practices & Advice everyday to his nearly 85,000 LinkedIn followers Follow Josh on LinkedIn   CJ Gustafson is a CFO at a series B startup, PartsTech. He has been in the startup space within the  private equity sector and has helped to scale venture backed companies for the last 10 years. He also authors Mostly Metrics, an irreverent and analytical spin on metrics which has crossed more than 10k subscribers. Follow CJ Gustafson on LinkedIn Casey Woo is a seven-time high Tech CFO- turned investor. He has held finance and CFO roles at Silicon Valley companies including at WeWork and property tech companies before founding an “operators community” turned investment fund FOG ventures. Follow Casey Woo on LinkedIn   What is covered in this episode: Casey Woo explains being at the “heart of the storm” in Silicon Valley with a close personal relationship with SVB The reasons that VCs put pressure to withdraw money from SVB in a classic “prisoner’s dilemma” How the fallout from SVB continues to impact companies and particularly finance professionals  The challenges for CFOs, particularly in tech, seeking to fundraise after SVB’s crash  What are the differences between fractional banking and Ponzi schemes The initial $250,000 ceiling on federal deposit insurance explained How could KPMG have given SVB a clean bill of health with so many stored-up challenges?  Why is the impact of raising rates so dramatically different than in the 1970s when no banks failed? Strategic advice for Treasury and FP&A pros going forward post-SVB  The importance for CFOs and FP&A leaders to understand “second order effects” beyond cash entering and leaving the building.  How the SVB saga has emphasized the value of an FP&A function that can show everything that's happened, is happening, and is going to happen “and being in control of that story” - allowing you to take action quickly. FP&A Today is brought to you by Datarails.   Datarails is the financial planning and analysis platform that automates data consolidation, reporting and planning, while enabling finance teams to continue using their own Excel spreadsheets and financial models. Watch the full show on YouTube Read the full transcript and blog  

“I am definitely starting to see more people with an FP&A background becoming fractional CFOs.”   Michael King, founder of The CFO Accelerator, coaches hundreds of  fractional CFOs and accountants in building “6 and 7-figure advisory firms”.   King arrives on the bustling fractional CFO scene at a time when demand for part-time finance chiefs working for several companies is  higher than ever. In King’s words in the next decade a small business having a fractional CFO will be just as common as bringing in a bookkeeper as hiring fractional CFOs becomes the “cost of doing business” at small and medium-sized enterprises. And according to King, those with an FP&A background have a significant advantage.   “FP&A really gets people ready for those CFO technical skills. So when I think about FP&A, I'm thinking about things like forecast projections, budgets and models, and data management, alongside communications across functional divisions within a business. And that's a huge part of what a fractional CFO has to understand”.   Covered in this episode King’s path from being a navy nuclear engineer to a fractional CFO leader The essential skills you need to be a fractional CFO When should an SMB choose a fractional CFO  Why budgeting and forecasting are “everything”  The key to using the fractional CFO position to connect the strategic goals of a business Why people in finance must learn to love sales When to move away from a fractional CFO and appoint a full time finance chief  Why cash flow is always “the first” and most important metric for any fractional CFO service Why you only need a small number of clients to “make a killing” as a fractional CFO How the Fractional CFO space will explode in the next decade “regardless of the economic picture” Fractional CFOs need to be “operating as far away from the decimal as possible” to be successful The process of adopting kids as the thing few people know about Michael     Watch the full show on YouTube Read the full transcript and blog   Follow Michael King on LinkedIn  Follow Paul Barnhurst on LinkedIn Follow Datarails on LinkedIn FP&A Today is brought to you by Datarails, the FP&A platform for Excel users. Episode links  The CFO Accelerator podcast with Michael King The CFO Report (Youtube channel) The The 5-Minute Fractional CFO Newsletter

“I must admit, when I was doing accounting, I never liked my FP&A colleagues. In fact, as a matter of at times, I hated them. I thought they didn’t understand accounting. They always push to reduce the number of days it takes to close the books when they have very little clue what's going on.” Abdul Khaliq, Group Financial Controller, at Abu Dhabi National Hotels   In our 50th episode of FP&A Today, we bring together an all-star guest list who have had experience working as both accountants and in FP&A. Drawing on their experience they  look at the frequent clashes between FP&A and their accounting colleagues (be warned no one pulls any punches!). Plus, the secrets to a more harmonious relationship between FP&A and accounting. Get ready for The Dual of Accruals, the Toe-to-Toe on Cash Flow….with all of your questions answered about the day-to-day realities of FP&A vs Accounting. The panel:   Lyndi Porter is accounting controller at Solera, a  global leader in vehicle lifecycle management. She  has more than 16 years accounting experience and has managed FP&A teams   Follow Lyndi on LinkedIn   Abdul Khaliq, Group Financial Controller, at Abu Dhabi National Hotels. 20+ years of progressive experience in accounting for Real Estate Development and Hospitality industries.   Follow Abdul on LinkedIn   Josh Aharonoff (aka Your CFO Guy), CEO and Founder, Mighty Digits. He shares Finance & Accounting Best Practices & Advice everyday to his nearly 85,000 LinkedIn followers   Follow Josh on LinkedIn   Terrell Turner: Co-founder and fractional CFO at TLTurner Group (NY Times featured CFO | 40 Under 40 CPA). He also provide bookkeeping services to law firms to make accounting and finance less complicated.   What is covered in this episode: The crucial differences between accounting and FP&A? The 4 main reasons FP&A practitioners and their accounting colleagues clash. The business fallout when FP&A and accounting fail to co-exist  Best practices that have worked in your career to bridge the gaps. Potential impact of AI in the FP&A-accounting relationship The crucial role of a Tech stack The importance of the chart of accounts in this relationship Getting the 10Qs and 10Ks out and the impact on FP&A requests The fastest way to get from accounting and FP&A and the qualifications  Favorite Excel functions for accounting and FP&A pros   Read the full transcript and blog Follow Paul Barnhurst on LinkedIn Follow Datarails on LinkedIn     FP&A Today is brought to you by Datarails.   Datarails is the financial planning and analysis platform that automates data consolidation, reporting and planning, while enabling finance teams to continue using their own Excel spreadsheets and financial models.   Get in touch at www.datarails.com

“It’s like a fuse being blown. You can push as much power as you want through the device, but if the fuse is gone, it isn't going to work. That's exactly how I felt.” Alison Allsopp is Head of FP&A at NHS Supply Chain, a crucial cog in the UK’s National Health Service. Prior to this, Alison was promoted nine times in her previous role at credit card company, Capital One. Despite (or maybe because of) this rapid rise up the finance ranks, Alison faced prolonged self-doubt and feelings of “imposter syndrome”. One day she reached breaking point. “As much as it was a real low point in my life, it was a huge turning point.” In this episode Alison reveals how she managed these challenges in her career and lessons for those facing a similar situation. Other highlights: Spearheading FP&A in the supply chain of the NHS just as COVID-19 hit throwing the NHS into crisis The importance of building trusting relationships and being open and transparent The secrets to getting nine promotions within a company Differences between big business FP&A and  public sector FP&A The untold role of FP&A’s strategic role at the NHS during the pandemic The biggest opportunities and challenges for FP&A professionals today The interesting fact that many do not know about Alison Her favorite Excel function The power of a good Waterfall Her biggest advice for someone starting out in FP&A Watch the full show on YouTube Read the full transcript and blog Follow Alison Allsopp on LinkedIn Follow Paul Barnhurst on LinkedIn Follow Datarails on LinkedIn

Egor Lyasko, Head of FP&A, Northern Europe at Kraft Heinz, shares insights on finance transformation, annual budget cycles, integrated business planning, and the role of FP&A in sales finance partnership. He emphasizes being a 'mini CFO,' the importance of accountability, and his retirement dream. He also discusses his journey from biochemistry to finance, challenges in managing budgets, and the significance of clean data for effective financial analysis.

Glenn Hopper, a serial startup CFO and U.S. Navy veteran, explores the use of ChatGPT to automate FP&A processes and interact with financial data. He discusses his transition from journalism to finance, the role of AI in finance and accounting, and the potential of chat GPT for small companies. The podcast also touches on the future of FP&A departments with advancements in technology and the importance of Excel lookups and statistics in finance.

Nicolas Boucher has a simple message to anyone who wants to move from audit to FP&A. The  Head of Finance and Controlling at Thales says: “You can do it. I am an example of that.” He says many skills are transferable from audit to FP&A. “Looking at financial statements from different companies in different situations and different industries” is one. Another is understanding “the figures compared to the past or compared to trends to give assurance to the figures. This is actually what you are doing as FP&A when you are analyzing the actuals against the budget or against last year.” After seven years in audit at PwC which took him around the world and saw him get “battlefield promotions” Nicolas didn’t want to remain in audit forever and wanted “something more operationally close to the business.” In this week’s podcast he explains how he made the move from audit to FP&A and the skills he has learnt in his 15 years as a finance leader. Whether it is his past as a DJ (“When you have control of the microphone from 500 people, you need to know what you have to say and to have the confidence to do it”) or board reports and his daily content as a global finance thought leader with 127,000 followers on LinkedIn he explains the importance of stopping people from being “ bored” or losing attention. He also reveals the inside scoop on a new course “giving everything that I learned the last 15 years” - that he wishes he had been given when starting out.  In this episode Nicolas reveals: How to shape your audit skills to to get a role in FP&A His key learnings in a finance career that has taken him all over the world including France, the US, and Singapore, and across audit, controlling and FP&A roles. The secrets to hitting 126,000 followers on LinkedIn as one of the leading FP&A (and general finance) influencers His lessons from a large-scale finance transformation at Thales The importance of communicating “bad surprises” early  His early DJ Career and the lessons for a career in finance His new course, Become a High Performing Finance Professional His favorite Excel function Links from the show https://nicolasboucher.online/ Become a High Performing Finance Professional course with links to his content online    Watch the full show on YouTube Read the full transcript and blog Follow Nicolas Boucher on LinkedIn Follow Paul Barnhurst on LinkedIn Follow Datarails on LinkedIn  

What does Carmen Turner love about FP&A? “Being able to provide businesses the insights they need to make great business decisions.”   The Director of Financial Planning and Analysis at Carmen Consulting Group who has managed the FP&A business partnerships at top companies such as McGraw Hill, says: “I work to help the businesses manage their budgets to target and understand their financial story.” But she started her career not in finance (or through a traditional route). She began her career as an electrician. But programming robots and wiring facilities saw her gain skills which have been used daily in her 14-year finance career - not least troubleshooting, problem solving, collaboration, communication and the ability to educate others on complex (financial) wiring.  In this week’s podcast Carmen provides insights into how FP&A teams can give business the appropriate insights to deliver great decision-making.  This episode covers: Carmen’s definition of FP&A as a primary educator in the business How doing an MBA switched her on to FP&A as a passion How she built the first FP&A certification more than a decade ago and how it helped her understand how processes differ across industries and companies Putting her finance-first thinking to the test when starting her FP&A consulting business Her four step approach to mastering sales-FP&A business partnerships How to effectively build a sales compensation strategy that works Why she advocates for rolling forecasts  The importance of adopting a risk and opportunities approach in budget and forecasting  The importance of a buffer in place when it comes to budget deadlines  Watch the full show on YouTube Read the full transcript and blog Follow Carmen Turner  on LinkedIn Follow Paul Barnhurst on LinkedIn Follow Datarails on LinkedIn   FP&A Today is brought to you by Datarails. Datarails is the financial planning and analysis platform that automates data consolidation, reporting and planning, while enabling finance teams to continue using their own Excel spreadsheets and financial models. Get in touch at www.datarails.com