Changing the focus of financial business partnering

Changing the focus of financial business partnering

The expectations within the world of finance business partnering are changing with the shift gearing towards the growth of virtual CFO services and the need to be outsourcing finance in Auckland. With 83% of organisations wanting to increase the time spent on Finance Business Partnering over the next three years, the time to change is now. 

 

There is a greater demand from businesses to improve its finance capabilities and drive serious performance. Recently, as a result, CFOs have opted down the route of hiring a financial business partner as it provides the opportunity to refresh their finance strategies and receive a fresh mindset and approach. Not only that but 52% of organisations believe that they do not have the right capabilities in finance, making it the perfect opportunity to hire a financial business partner to relieve some of the stress and pressure. By doing so it ensures that the business is headed down the right track and profitable growth will be made. Discover the reasons why your organisation needs to change their focus and look into obtaining a virtual CFO or part-time CFO

 

Save time and money by investing elsewhere 

Save your organisation and employees time and money by investing in a virtual CFO NZ. A true finance business partner are equipped with expert knowledge and skills to immediately influence your business activity and decisions based upon the resources and data provided, which reduces the risk of trial and error as the decisions are backed by data. Not only that but they understand the needs for both sides of the business (operations and management) and therefore can provide advice that factors in all the needs of the business rather than just the financial aspect. 

 

Fresh Eyes

Bringing in a pair of fresh eyes and new knowledge and skills often is invaluable to the business. More often than not business activity and decisions can plateau as people are too scared to make decisions that are outside of what is considered to be safe and reasonable. However, with such decisions lacks the chances of growth and results, as once you have hit your target you will never overcome that point and reach higher if you are continuing on with the same old practices. By outsourcing your CFO Services you will be able to challenge the way you historically have done things which will spark growth and allow both your organisation and your employees to move forward in a positive manner. At the end of the day the aim of the financial business partner is to maximise shareholder value and return so all decisions and suggestions made will be backed up by solid proof (which is in the data and insights of your business). 

 

Seeing beyond just the numbers and data

According to Deloitte UK, ‘successful financial business partners are seen as leaders that can influence the decisions a business makes beyond the numbers’. Traditionally finance departments base their recommendations and decisions on historical data. Whereas the shift of focus that has occurred within successful finance business partners is to embrace the future (with the support of the organisation) through the use of key performance indicators and analysing the organisations industry and where they see the needs of the consumers heading towards in the near future. Although analysing historical data can be insightful and important, just from looking at the last decade the changes that society has had and the values that are instilled within everyday consumers are enormous. Therefore these changes are bound to happen again and the best way in predicting these changes are by looking ahead rather than looking behind and sticking with the old trends. 

 

Beyond Financials are the leaders in Virtual CFO services in Auckland, with their business analytics expertise and comprehensive end to end solutions, they are truly an invaluable partner for you and your business. Contact Beyond Financials and move your business in the right direction. 

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