Swiccom Finance

Finance business partnering (FBP) is a strategic approach to finance that involves finance professionals working closely with business units to provide them with the financial insights and support they need to make better decisions.

In a traditional finance role, finance professionals are primarily responsible for tasks such as accounting, reporting, and compliance. However, in a FBP role, finance professionals take on a more consultative role, working with business units to understand their goals, challenges, and opportunities.

FBP professionals use their financial expertise to help business units:

• Develop and implement financial plans and budgets
• Analyze financial data to identify trends and patterns
• Assess the financial impact of business decisions
• Develop and implement financial risk management strategies
• Communicate financial information to stakeholders

FBP is a valuable tool for businesses because it helps to ensure that financial decisions are aligned with business goals. By working closely with business units, FBP professionals can gain a deep understanding of the business and its drivers. This understanding allows them to provide more relevant and insightful advice.

In addition, FBP can help to break down silos between finance and other departments. By working together, finance and business unit professionals can develop a more holistic view of the business. This can lead to better decision-making and improved performance.

Benefits of finance business partnering

• Improved decision-making: By providing business units with the financial insights they need, FBP can help them to make better decisions that are aligned with business goals.
• Increased efficiency: By working together, finance and business unit professionals can eliminate duplication of effort and streamline processes.
• Reduced costs: By helping business units to identify and manage financial risks, FBP can help to reduce costs.
• Improved communication: By working closely with business units, FBP professionals can build strong relationships and improve communication between finance and other departments.
• Enhanced innovation: By providing business units with a fresh perspective, FBP can help them to identify new opportunities and develop innovative solutions.

Skills required for finance business partnering

• Strong financial skills: FBP professionals need to have a strong foundation in financial accounting, reporting, and analysis.
• Business acumen: FBP professionals need to have a good understanding of the business and its drivers.
• Strong communication and interpersonal skills: FBP professionals need to be able to communicate effectively with both technical and non-technical audiences.
• Problem-solving and analytical skills: FBP professionals need to be able to identify and solve problems, and to think critically about financial data.
• Consulting and advisory skills: FBP professionals need to be able to provide advice and guidance to business units.

Career path in finance business partnering

FBP is a growing field, and there is a high demand for qualified professionals. FBP professionals can typically expect to earn a competitive salary and benefits.

A career in FBP can lead to a variety of senior-level positions, such as:

• Finance director
• Chief financial officer (CFO)
• Vice president of finance
• Controller
• Treasurer

If you are interested in a career in finance business partnering, you should consider pursuing a master’s degree in finance or a related field. You should also gain experience in both finance and business roles.