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FP&A Tomorrow

FP&A Tomorrow

Paul Barnhurst
Affari e Finanza, Formazione Scolastica

FP&A Tomorrow is where we discuss what FP&A looks like today and help shape what it should look like tomorrow by interviewing the best and brightest people in FP&A globally.

7 - Evolution of FP&A and insights on Wharton Online Program With Christian Wattig
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  • 7 - Evolution of FP&A and insights on Wharton Online Program With Christian Wattig

    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 Wharton Online, one of the world's leading business schools. The gateway to mastering financial planning and analysis through a rigorous, comprehensive curriculum crafted by industry experts is only a click away- https://wallstreetprep.wharton.upenn.edu

    In today’s episode, Paul Barnhurst engages Christian Wattig on the journey into the evolving world of financial planning and analysis.

    Christian Wattig, a seasoned FP&A professional and educator. As the program director for the Wharton Online and Wall Street Prep FP&A Certificate, Christian brings a wealth of experience and innovative strategies to the table. He shares how AI and technology are transforming the field.

    Key takeaways from this week's episode include: :

    Here is a concise summary of the key points from the discussion:

    How excellent FP&A practice hinges on making solid business recommendations from detailed analysis and storytelling, emphasizing the importance of implementing and monitoring these recommendations for impactful outcomes.The discussion is on how AI and new planning tools are revolutionizing FP&A by streamlining data collection and reporting, thus allowing analysts to concentrate more on strategic analysis and business partnerships.Insights into a career that transitioned from major corporations to spearheading an FP&A education venture, sharing valuable lessons from varied professional experiences.Introduction to a new certificate program that merges technical FP&A skills with interpersonal development, designed to equip professionals with comprehensive financial planning and analysis expertise.The discussion highlights the importance of digging beyond the surface of financial data to find actionable insights and the art of crafting these insights into stories that drive strategic business decisions.The reflection on the personal gratification from teaching and mentoring in FP&A, and anticipation of the future developments in the field as technology and analytical methods advance.

    Quotes:

    Here are a few relevant quotes from the episode about FP&A skills and making concrete, impactful business recommendations:

    "FP&A is at its best when you make a concrete recommendation that helps the business move forward."

    "With AI and not just with AI, but also with FP&A and planning tools and software, it will be possible that you don't have to pull data from lots of different sources."

    "When you're just taking people and walking them step by step through how I build a financial model from scratch, it's a different way of teaching."

    “Give them those metrics, those insights, or you can get them something that gets them at least halfway there. By doing that, you can demonstrate that you want to do more than just cutting budgets and updating forecasts.”

    Follow Christian Wattig:

    LinkedIn -https://www.linkedin.com/in/christian-wattig/Website - https://wallstreetprep.wharton.upenn.edu/

     Follow Paul: 

    Website -https://www.thefpandaguy.com LinkedIn -https://www.linkedin.com/in/thefpandaguy


    For CPE credit please go toearmarkcpe.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.

    Thu, 02 May 2024 - 48min
  • 6 - From CFO to Fractional Leadership Navigating AI and Financial Growth with Tom Schultz

    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 Abacum, the leading mid-market FP&A solution trusted by hundreds of companies to eliminate the spreadsheet struggle.https://www.abacum.io

    In today’s episode with Tom Schultz, Paul had an insightful conversation about the evolving landscape of financial planning and analysis (FP&A) and its implications for fractional CFOs.

    Tom Schultz, founder and CFO of NextGen CFO, sheds light on the crucial skills behind successful financial analysis and the evolving role of technology in finance. From his extensive experience, Tom shares invaluable insights into transitioning from traditional FP&A roles to becoming a sought-after fractional CFO.

    Key takeaways from this week's episode include: :

    Here is a concise summary of the key points from the discussion:

    Professionals in financial planning and analysis are tasked with translating real-world events into financial data, forecasting, and modeling these numbers to plan for future outcomes strategically.The discussion concerns how advancements like AI and prebuilt dashboards might impact the depth of learning traditionally required in FP&A roles. Integrating new technologies poses challenges and opportunities for professionals in the field.The evolution of a career in finance, emphasizing the shift towards providing strategic fractional CFO consultancy.With the increasing demand for fractional CFOs, there's a spotlight on the advantageous position of FP&A professionals looking to transition into these roles.The intent is to offer a comprehensive resource for those interested in the niche, inspired by numerous informal mentorship interactions.The strategic adoption of technology in financial practices, highlighting the importance of aligning technology use with client needs and exploring the capabilities of generative AI to streamline writing and documentation processes in finance.

    Quotes:

    Here are a few relevant quotes from the episode about FP&A and CFO insights:

    "A great FP&A person in my mind is someone who knows what's behind the numbers."

    "It's more in private companies that are slow to hire a professional CFO. I think if you're out there fundraising and I've seen pre-revenue hire a fractional CFO just because they need navigation for investors."

    "The young people coming into this profession, I'm concerned that they'll take that stuff for granted and learn down to the root that we learned."

    "If you look at the CFO in the finance department, the controller and everyone below them tend to look backward in history. The CFO tends to look forward, so the FP&A person is more forward-looking than anyone else in the finance department."

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    Follow Tom:  

    LinkedIn -https://www.linkedin.com/in/tom-schultz-5926815Website - https://www.nextgencfo.com

     Follow Paul: 

    Website -https://www.thefpandaguy.com LinkedIn -https://www.linkedin.com/in/thefpandaguy

    For CPE credit please go toearmarkcpe.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. 

    Mon, 29 Apr 2024 - 43min
  • 5 - The Influence Of FP&A On Business Decision Making with Jon Laudie

    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 Abacum, the leading mid-market FP&A solution trusted by hundreds of companies to eliminate the spreadsheet struggle. https://www.abacum.io

    In today’s episode, Paul sits down with Jon Laudie, to discuss integrating FP&A into strategic planning and decision-making across businesses.

    With Jon Laudie, CFO at Zerorez, plunge into Financial Planning & Analysis (FP&A) and learn from Jon's rich experience and strategic insights. From his initial roles in investment banking to his current position as CFO, Jon shares his valuable lessons.

    Key takeaways from this week's episode include:

    Here is a concise summary of the key points from the discussion:

    The transition challenges and learnings involved in moving to a CFO position, including dealing with complex financial operations and integrating multiple acquisitions.

    FP&A functions are evolving to become more aligned with strategic finance, significantly enhancing their impact on business decision-making.

    Emerging technologies are streamlining FP&A processes, making them more efficient and reducing reliance on manual tasks.

    Strategies for FP&A professionals to become more strategic and operationally focused are discussed, including building relationships outside of finance and understanding the broader business context.

    Quotes:

    Here are a few relevant quotes from the episode about FP&A and CFO insights:

    “I think great FP&A in my mind is a function that is deeply integrated into the strategic planning and the decision-making of any organization.”

    “We still come across things that surprise us, like, 'Oh, we didn't realize how this is or this contract existed.”

    Follow Jon:

    LinkedIn - https://www.linkedin.com/in/jonlaudieWebsite - https://www.zerorez.com

     Follow Paul: 

    Website -https://www.thefpandaguy.com LinkedIn -https://www.linkedin.com/in/thefpandaguy

    For CPE credit please go toearmarkcpe.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. 

    Thu, 25 Apr 2024 - 46min
  • 4 - Achieving FP&A Excellence in Rapidly Expanding Enterprises with Richard Tame

    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 Abacum, the leading mid-market FP&A solution trusted by hundreds of companies to eliminate the spreadsheet struggle.https://www.abacum.io

    In today’s episode, Paul engages in a conversation with Richard Tame, to discuss the essential elements that define excellent financial planning and analysis.

    Richard, CFO of Coeus Institute, with over 25-plus years of experience in finance across various sectors, including his significant role at Aurora, brings a wealth of knowledge and a unique perspective to 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:

    FP&A is rooted in having the right team. The focus is on hiring the right people with the necessary skills and ensuring they work well together.FP&A teams are not just about number crunching, they should also influence business decisions. The ability of FP&A to be involved in strategic discussions varies by company culture, from being central to decision-making to being viewed as a back-office function.FP&A professionals adapt their strategies to fit the culture of the company, whether it's a traditional corporation or a fast-paced tech startup.It is important to prepare an organization structurally and financially for potential public offerings or other major corporate transitions.

    Quotes:

    Here are a few relevant quotes from the episode about FP&A mastery:


    "I've been in companies whereby finance has a really strong seat at the table and you know, you can't blow your nose unless finance is holding the handkerchief. Then I've been in companies where finance is seen as an inconvenience at best."

    "You have to make the relationships not about you. You're there to partner with the business, and invariably the business knows more about the business. You need to have a relationship such that you can influence them. You're serving them."

    We had built the company in a way that we would have expected to go public at some point, and one of the things that I'd seen at Lyft, for example, I joined Lyft the day after the IPO, and it became clear that perhaps they hadn't built the infrastructure in the way that they could of to make life easier and that was very messy."

    Follow Richard:  

    LinkedIn -https://www.linkedin.com/in/richardtameWebsite - https://coeus.institute

     Follow Paul: 

    Website -https://www.thefpandaguy.com LinkedIn -https://www.linkedin.com/in/thefpandaguy

    For CPE credit please go toearmarkcpe.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. 

    Thu, 18 Apr 2024 - 50min
  • 3 - Future-Proof Your FP&A Career with Carl Seidman

    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 Abacum, the leading mid-market FP&A solution trusted by hundreds of companies to eliminate the spreadsheet struggle. https://www.abacum.io

    In today’s episode, Paul engages in a conversation with Carl Seidman to discuss why mastering presentation skills, and understanding the needs of the audience is crucial for excelling in your FP&A career.

    Carl is a premier FP&A and Fractional CFO expert, providing financial advisory and leadership development services to top companies including Deloitte, Verizon, and Walmart. Carl is known for his impactful training programs and advisory work that drive success in financial planning and analysis.

    Key takeaways from this week's episode include: :

    Here is a concise summary of the key points from the discussion:


    In FP&A, the ability to distill complex information into a concise, impactful message is paramount. It's not about how much you know, but what you can communicate effectively.


    The ability to distill complex information into a concise, impactful message is paramount. It's not about how much you know, but what you can communicate effectively.


    FP&A isn't just about numbers, it's about storytelling with data, painting a vivid picture of the financial landscape that guides strategic decisions and drives organizational success


    Anticipating potential disruptions or changes in the business environment is a fundamental aspect of FP&A. By identifying risks and developing strategies to mitigate them, FP&A professionals can help the organization stay ahead and adapt effectively.


    Quotes: :

    Here are a few relevant quotes from the episode about FP&A and product working together effectively:


    "You're not going to go to a nice restaurant and pay a lot of money for a delicious dish, and then have it be delivered in a greasy brown paper bag. Right. So the deliverable matters a whole lot. It can actually significantly dismiss the credibility or value of everything that came up before at that point in time."


    "I think that Great FP&A looks like a team of people who are equipped, from a technical standpoint, to be able to execute the kinds of requests that are being asked of them."


    “The demands in business, the increasingly fast-moving environment, competition, the risks of getting some of this planning wrong are pushing the need of FP&A to be a whole lot more proactive, a lot more agile, a lot more well rounded and thinking instead of just being about financial planning and reporting."


    Follow Carl:

    LinkedIn - https://www.linkedin.com/in/carlseidman

    Website - https://seidmanfinancial.com


    Follow Paul:

    Website - https://www.thefpandaguy.com

    LinkedIn - https://www.linkedin.com/in/thefpandaguy


    For 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.

    Thu, 11 Apr 2024 - 58min
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