Whether you are developing budgets or producing financial reports, the way we engage with our business and executive is critical. It is not enough today to just punch out a timing (and accurate) financial report, month on month. Our reporting should not just be a simple variance report or set of traffic lights, we need to add value to our reporting products.
This requires not just a good handle on our numbers but a strong understanding of our business, including our key objectives, drivers and risks. Knowing how to analyse our data in a way that can identify and extract the critical issues, risks and benefits facing the business, both strategically and operationally is essential. We also need to effectively communicate this to our audience, which requires us to understand not only what information our audience needs, but how they intend to use it. We can add significant value through our interpretation, helping our audience to become better informed to make decisions and deal with risk.
Starting on 2 May, Synergy will be running a Strategic CFO Program, aimed at helping aspiring CFOs to move beyond technical skills and become a strategic partner. During the program, I will be presenting on how we go build on the traditional financial management function to increase our strategic focus and impact. Please head over to the sign-up page if you’re interested!