Many companies today want more from their finance teams. It’s no longer just about reports and budgets. Businesses now need finance to play a bigger role in decision-making and planning.
As tools improve and data becomes easier to use, finance has the chance to make a stronger impact. However, finance professionals need more than just number skills to do that. They need to understand how the business works.
Andy Cox knows this shift well. He founded Optimum Value Limited, a consultancy that helps companies build better finance business partnering. Andy has worked in senior finance roles at O2, Travelport, and Microsoft. He has supported teams in areas like marketing, product, and technology.
His focus is simple: help finance teams move from counting numbers to using them to support smarter business choices. He believes finance should guide, not just report. His approach is based on knowing the business, asking the right questions, and building strong working relationships.
In this article, we explore why business understanding matters in finance. We learn how spending time with other teams, using the right tools, and building trust can make finance more useful. We also look at the mindset and skills that help finance teams add real value and support growth.
How Does Real Business Understanding Improve Finance Business Partnering?
Good finance business partnering goes beyond just working with numbers. It starts with knowing how a business works. This means understanding how different teams, like marketing, tech, and customer service, connect and affect each other.
Why Knowing the Business Matters
To give useful advice, finance teams must know how ideas turn into real products or services. That includes seeing the full journey from planning to delivery to support. When you understand each step, your input becomes more helpful and clear.
Working with different teams gives finance people a wider view. It helps them spot how one area affects another. For example, a change in marketing may lead to more pressure on support teams. Knowing that helps finance guide better decisions.
Seeing Across the Business Through Finance Business Partnering
Finance often has a view of the whole company. That’s a big plus. It lets them bring teams together and make sense of how parts connect.
Key benefits of this broader view include:
- Spotting patterns that link actions in one department to outcomes in another.
- Providing insights that help different teams work toward the same goals.
- Saving time and effort by identifying overlaps or gaps across functions.
- Supporting decisions with a more complete view of the business.
- Adding real value by seeing what others might miss.
Embracing Change and Technology
Tech keeps changing. That’s normal in fast-moving companies. Tools like AI take over boring tasks so people can focus on deeper thinking. Finance teams can then spend more time helping the business grow.
The Role of Emotional Intelligence
It’s not just about skills. Strong relationships matter. Good finance partners listen, understand people, and work well with others. That helps teams move in the same direction and get things done faster.
Should Professionals in Finance Business Partnering Work Outside Finance?
Spending time outside finance, even briefly, can bring huge value to any finance professional. It offers a fresh view and builds stronger, more useful skills that stay with you long-term.
Why It’s Worth Doing
Stepping into a different function, like marketing or strategy, gives you better understand how a business runs. It helps you see things you won’t learn by staying in finance alone. Even if you aim to become a technical accountant or CFO, this experience makes a difference.
- Understand how different teams think. You learn how others approach problems and what matters most to them in daily work.
- Link business goals to finance. Seeing decisions happen in real time helps you connect financial impact with business action.
- Build stronger working relationships. Being part of another team builds trust. It also helps you work better together later.
- Learn what others need from finance. You get a clear sense of what information or support makes their job easier.
You don’t always need to make a big move. Job shadowing or short-term secondments also work well. You still get insights without leaving your role fully.
Learning from Other Teams Improves Finance Business Partnering
When finance people spend time in teams like marketing, they stop being seen as outsiders. Others feel more open to asking questions or learning because they trust someone who understands their work.
Most teams want to learn about finance but often unsure where to start. Moreover, this helps you see things from their point of view. Finance often looks at numbers. But marketing looks at the customer.
Together, both sides see a fuller picture and make better choices. You also begin to understand what drives success. It’s not only about the numbers. It’s about how people and teams work together to meet shared goals.
Teach in Simple Terms
Many teams care about results but struggle with the numbers. When finance explains things simply, people listen. Short sessions or one-on-one chats go a long way. Most people want to learn. They just need someone to make it easier.
How Finance Business Partnering Teams Can Drive Growth with Technology
Finance professionals don’t need to be tech experts to lead digital change. What matters more is having a clear goal. Once the goal is clear, the right tools and support can help.
Start With the End of Mind
The key is knowing where you are now and where you want to go. If you can explain that clearly, others can help build the path. You don’t need to manage the full setup yourself.
Many tools and partners can support that goal, even if your systems don’t match. You also don’t need deep tech skills. You just need to be clear about what outcome you want. Start small, stay focused, and build step by step.
Simple steps to get started:
- Know your current setup and where you want to go
- Keep your plan clear and easy to explain
- Find partners or tools that support your goal
- Focus on progress, not perfection
Balancing Control and Strategy in Finance Business Partnering
Finance often focuses on control, reports, and rules. That’s still important. But once better tools are in place, those tasks get faster and smoother. You won’t need to spend time building reports or chasing numbers.
This frees up time to plan. You can test ideas, give insights, and help the business make better choices. It’s a shift from looking back to helping shape the future.
If your team doesn’t grow with this change, it may get left behind. Good people won’t stay where they can’t add value or grow. And strong companies need finance teams that guide, not just report.
Culture and Mindset Make the Difference
Tools help, but mindset matters more. Great finance teams look forward to helping others win.
To build the right mindset and culture:
- Focus on helping, not just controlling
- Stay open to change and new ways of working
- Support others across the business
- Build trust through useful advice, not just reports
When the culture is right, progress comes easier. Without it, even the best tools won’t help much.
What the Future Holds for FP&A and Finance Business Partnering
The future of FP&A is changing fast. It’s moving away from reporting past results and leaning more into guiding future decisions. Technology is helping with this shift, but people still play a key role in making it work.
More Business Partnering, Less Reporting
In many companies, finance teams now spend less time on reports and more time working closely with the business. Tools and systems handle most of the planning and reporting.
That leaves space for people to focus on what matters, spotting trends, giving advice, and helping teams move in the right direction.
Budget cycles that once took months now take days. Instead of starting from scratch, finance teams get a system-generated plan and adjust it based on real input. This makes planning faster and more useful for the business.
Real-Time Data and Smarter Forecasting
Real-time data makes a big difference. Teams no longer wait weeks to see results. They can act while things are still happening. This helps with quicker decisions and more accurate planning.
What Skills Will Matter Most?
Finance roles will still need technical knowledge, but that won’t be enough.
- Business understanding: Know how different teams work and how decisions affect results.
- Bold thinking: Ask smart questions and challenge ideas when something seems wrong.
- Clear communication: Explain what the numbers mean in simple, useful ways.
- Support mindset: Focus on helping the business grow, not just tracking results.
Some teams already have data scientists working alongside finance. They handle the data, while finance helps turn insights into actions. This mix is what companies will look for more and more. It’s about working together to move the business forward.
Conclusion
Good finance business partnering starts with knowing how a business works. It grows stronger with time spent outside of finance. By working with other teams, finance people see more, learn more, and give better advice.
Moreover, simple and clear support builds trust. When teams understand the numbers, they make better choices. That’s how finance helps everyone move in the same direction.
Technology also plays a helpful role. It handles routine work so people can focus on real thinking. Finance teams then spend more time helping the business plan and grow.
That said, tools alone are not enough. People still matter most. Skills like listening, clear thinking, and strong teamwork make the biggest difference.
The best finance partners don’t just report results. They help shape what happens next. They guide choices, ask smart questions, and support the bigger goal. Finance business partnering is not just a job. It’s a way to add real value across the company.
FAQs
What’s the main goal of finance business partnering?
The goal is to help the business make better decisions. Finance partners do this by offering useful insights and support.
How is finance business partnering different from traditional finance?
Traditional finance focuses on reporting. Finance business partnering focuses on helping the business plan and grow.
Who should finance business partners work within a company?
They should work with all key teams, like marketing, sales, product, and operations. Strong partnerships build better results.
Can small companies benefit from finance business partnering?
Yes. Even small businesses gain value when finance supports decisions instead of just tracking costs.
What tools help with finance business partnering?
Simple planning tools, real-time dashboards, and clear reporting systems help finance teams share insights faster.
