Finance Business Partner Adalah

Finance Business Partner Adalah – As the marketing director of a company I worked for long ago said when he led a seminar, “Functions like finance, HR, and IT are overheads. They add no value. They don’t bring new business or sell anything, and they don’t bring anything. “

I didn’t react at the time, but I remember being very angry. I felt humiliated to be told I was worthless to the company.

Finance Business Partner Adalah

Finance Business Partner Adalah

I was, I must say, quite naive at the time – this was not long after I started my first career outside of public practice.

Financial Business Partner: Climbing The Finance Ladder

What follows are some of my observations about the relationship between the finance function and other business units over twenty years of working in more than thirteen companies.

One thing that has occasionally baffled my pedantic mind over the years is the use of the term “business partner” to describe certain roles in activities that support and oversee a company’s core business (the core business being providing of goods or services to customers). In my experience, finance and HR use the term the most. I use the phrase myself, because I know what people mean!

In the broadest sense, being a “business partner” means being a link between your company and another.

I think what irritates me about the word is the misunderstanding it can create. This discrepancy can be exposed with a few exaggerated statements.

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, or maybe it’s just money. They don’t sell or sell the product or provide the service, so they aren’t very important.

So there are people that you hire into your company that are not part of your company, but if you like them enough, you can leave them.

“Running a business is more about making decisions than day-to-day operations and control. Me, the CEO and my board;

Finance Business Partner Adalah

Therefore, the other people in the functions are shaping, supporting, controlling and acting. They are not really part of the company. They just work I guess!

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I always get a wry smile on my face when people say, “We should ask the business about this,” or, “That’s for the business to decide.”

My take is this: collectively we are all businesses. We all need it. Humans are not the only ones making big decisions. It’s not just the people who make and sell and deliver.

There is a passage in the Bible that speaks of the church in this way. He equates the church with the body. No part of the body can call itself a body, but any body without a body is not a complete body. Each part has its own role and place, and is important in the overall functioning of the body. The church is a body. Therefore, each member of the Church has a gift and calling from God that contributes to the universal mission and purpose of the Church. We can’t do without each other.

We are all part of the business and if every part doesn’t work well and work together, the business will fail.

Are Finance Business Partners Only For Big Companies?

This is my basic idea when dealing with relationships in business. Each function and person must support each other to achieve the business goal – e.g. more customers, more sales, more profit, lower costs, better branding, satisfied shareholders, stable cash flow, improved communities, etc.

So if you’re leading a finance team, I encourage them to look first at how they can help the company achieve its goals. Then being able to help our colleagues in all of our cross-functional relationships keeps us united. like a.

On the other hand, when I talk to my colleagues in Ops, Customer Service, Marketing, HR, IT, etc., I make sure they know I’m there. Actually, we are on the same side.

Finance Business Partner Adalah

I have to measure their spend or performance against sales targets, ask them why they haven’t raised money from customers fast enough, set a strong budget, cut costs, and have done many things they don’t like. But if they know that I’m doing this – and finance is doing this – because we’re following our will to make the company successful, then it becomes more a matter of asking their help in achieving our goals. .

Hoang Duong, Sr. Director, Finance Business Partner Americas Headquarters At Marriott, 10/3

So, what are some things that financial business partners should consider if they decide to do a good job?

The first comment I would like to make is that character differences cause a lot of conflict. But it is better to realize that and to work together.

Myers-Briggs (MBTI), Insights, Belbin, StrengthsFinder and many other personality assessments make this clear. But it actually goes without saying.

But you will also find certain personalities drawn to certain roles and activities. I believe that certain personality traits go hand in hand with certain skills (although this generalization doesn’t always work).

Successful Onboarding For Finance Business Partners

For example, an analyst may have access to financial and IT areas, established processes, logic, and quantitative certainty. On the other hand, a social person may be attracted to areas that deal with people – HR, sales or marketing.

Recognizing the strengths and weaknesses of certain personality styles in different situations can really help people work together. Instead of a marketing or sales person looking at numbers in an incomprehensible or unexpected way, we analytical types can patiently help them. We should also seek their help when we need some more expansive, creative, or unstructured thinking.

What does finance know about making our product? So how can you ask us to do it efficiently?

Finance Business Partner Adalah

“Why would the finance department ask us to fill our transaction screens with useless information? They’re wasting our time.”

Finance Business Partner Skills & Responsibilities, Fbp Create Value

“Why does finance always require a signature on every piece of paper? That’s the reason we’re not as efficient as we could be.”

Thing) A company is trying to make money for its shareholders. Finance will therefore always take center stage and will have many fingers in the cake. And that can sometimes be seen as interference in matters we know nothing about.

But before I say something about the dialogue between the financial sector and other sectors, I want to clarify something.

We financial professionals are trained in finance, usually first as accountants and then as analysts and financial managers. We are (usually) not trained in manufacturing, engineering, C++ programming or human resource management!

Finance Team As Business Partner

! We recognize that there are things we do and don’t know, things we are good at and things we are not.

For example, I may know little about C++ or .net frameworks or web design, but if I challenge the IT department to hire contractors to build the application, I don’t need to know any of that.

What I need to know is what the application is and how it helps the business (financial or non-financial). If they can’t tell me, or their benefit statement comes under scrutiny, I have the right (perhaps the duty), as someone responsible for their financial success, to quit/rethink.

Finance Business Partner Adalah

It could also be that no one really understands how the company works. Businesses are complex and made up of imperfect humans, man-made machines, and computer programs written by imperfect humans! Things never work 100% perfectly! Because we are not perfect, we can be the cause of special defects!

Partnership: Definition, How It Works, Taxation, And Types

This is your chance to find out more about what is going on in the company and it could become an opportunity to help you.

Ask questions to help your colleague understand the issue you’re raising. They may not fully appreciate what they emphasize. You can help them by simply asking questions.

Make sure your colleagues know why they need information or why things have to be done a certain way.

What are the business consequences of not following procedures? Are we going to lose money? Are we polluting important information sources? Will we be efficient?

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Get everyone on the same page. You can begin to see how you can do things differently to get the results you want.

If you need it. Being willing to work things out to make sure you both can work together shows that you both truly believe you’re on the same wavelength. It shows that you appreciate their problems and your own demands.

If you make it through this lively conversation, hopefully you’ve solved a problem and made a friend and a strong partner at the same time. They’re both ready to help if you need anything in the future, and they’ll be willing to discuss future issues openly and with little conflict.

Finance Business Partner Adalah

If you do rely on finance, it’s about providing information on how the company is doing and making sure that transactions are managed and controlled efficiently and effectively. You trust them

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