The Purpose-Driven CFO Part 6: Internal Control is for Finance Business Partners Too

Understanding why you do things makes a difference

Internal control is often seen as a boring subject. It conjures up visions of bureaucracy, paperwork, inspection teams with checklists, things which slow the business down. But, as I have said elsewhere, “Saying that internal control is boring in business is like a train driver saying that tracks and signals are boring.” Over the course…

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Working in Finance During a Business Transfer

business transfer and integration projects

Over the years, I’ve worked for three businesses that have been sold while I worked for them. I’ve also worked on acquisition integration programmes. Business transfer is a complex and challenging time. So, I thought I’d share some thoughts that may be helpful if you find yourself managing a team in Finance when you discover…

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The Purpose-Driven CFO Part 5: Don’t Waste Money Doing Projects

Understanding why you do things makes a difference

Another post relating to business projects!? It must be on my mind or something! Perhaps because I’ve just signed up to take my PRINCE2 exams. I don’t know! Be that as it may, I have got to the point in my Purpose-Driven CFO series on LinkedIn where I’m considering the purpose-driven angle applied to projects. Why…

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There’s No Such Thing as an IT Project

IT projects involve business change as well as code

“There’s no such thing as an IT project. All projects in business are business projects.” That was a tweet I put out a while back. And it drew a response from a young programmer. “By the same logic, there’s no such thing as a construction project either. Erecting a new office building is pure business,”…

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The Purpose-Driven CFO Part 4: Financial Reporting for What?

Understanding why you do things makes a difference

Financial reporting is something that Finance is known for. We do it month in, month out. The cycle never stops. No respectable business doesn’t do it. So I reckon it’ll be a challenge encouraging you to actually read my latest part in the Purpose-Driven CFO series. Surely nothing in our reporting processes needs to change?…

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You Don’t Have to be in FP&A to be a Finance Business Partner

anyone in Finance can be a business partners

It is becoming fashionable nowadays to identify some roles in Finance as Finance Business Partner. The intention is to emphasise the need for managers in the business to have a strong understanding of financial performance. And therefore, the Finance function ought to provide people who can come alongside business managers, providing financial insight and understanding. In…

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The Purpose-Driven CFO Part 3: Purpose-Driven Strategy

Understanding why you do things makes a difference

Why do we do “strategy” in business? How can Finance influence the strategy development process to make it most effective? How does understanding why help us? This is what I’m discussing in the the third in my series on LinkedIn – The Purpose-Driven CFO. Is the “strategic plan” just a long term version of the…

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Late Payment – 3 Ways It Might Be Your Fault

late payment might be your fault

We all know cash flow is important. The bigger the cash balance in your business the safer it is, the more flexibility it has and the less it has to rely on external lenders and investors. So getting cash in from customers as fast as possible is one of the clearest priorities in business. But…

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The Purpose-Driven CFO Part 2: What Are We Budgeting For?

Understanding why you do things makes a difference

The second in my series of LinkedIn articles is out now. It’s all about something which has seemed like a massive headache in pretty much every large business I’ve worked with – budgeting. In a purpose-driven Finance team, we must understand why we use budgets. My thinking is that understanding why helps us to do things better.…

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Accounts Payable Automation – Benefits and Pitfalls

Beware the pitfalls of AP Automation

Where you work, have you automated Accounts Payable? I’d love to hear. Please tell me your experience in the comments below. Accounts Payable (AP), in case you were unsure, is the process by which the business pays the companies which supply it with goods and services. The suppliers send in invoices which must be paid…

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