Guest post by Lance Rubin
If your finance department is going to operate effectively, it needs the right blend of three elements: people, process, and technology. Having each of these elements present in your function is easy enough, but getting the balance right is another thing entirely.
Taking a tech-first approach is, in almost all cases, a bad idea. Technology is never a driving factor – leading with tech is like offering up an answer without really knowing what the question is. But scrutinising the state of your current technology can tell you a lot about your people and processes, which is where the true balance comes in. Continue reading “Why your business planning needs Core and Edge”
Written by Christopher Argent, Founder Generation CFO
To answer this #BQs (Big Question) let’s first remember why management accounting exists.
For me, the role of management accounts (which feels like an outdated term today) is to provide management with information to “control and measure” across three pillars.
Three pillars of information
- Performance Management
ie: providing information on how the company is performing, how we think it will perform, how we can support growth, how it will grow, and how effective and efficient we are, and how much more can we be efficient.
Data Analytics approach
With reference to my Data Analytics articles, we need to take a good look at what the business needs to ask and answer to manage and grow the business, if this relies on external data (competitor data, benchmarks, external operational data -weather, traffic data, customer persona data) then you will need external data.
Is this likely to be the case in most companies?
In my experience there is a case for external data in all companies, after all, no company is an island, so it will need an external view.
Joining me today is Henri Taipale, reluctant accountant, now accounting Entrepreneur, who moved from Tax to Analytics to CEO of Qvalia who talks about his finance career journey and the trends around his move to start up!
“I never liked accounting… challenge why we do things in the way we do them!”
Listen as Henri and I talk about how CFOs drive innovation in business, and challenge conventional thinking of our role in Finance.
Sponsored by SSON Week
Continue reading “S1 E16 – Henri Taipale, From Tax to Analytics to CEO of Qvalia, Finance Innovator #CFOchat”