One of the key components of great finance business partnering in our QUIET framework is Q for Quality
Good data, good systems and processes and good people.
If you don’t know what I am referring to just download our book at www.financebusinesspartnering.com/finance-business-partner-book-1
And good people refers to not only the capability of the team but also their capacity. And how you structure them up for success.
Now FBP isn’t a cookie cutter, one size fits all approach. Different types of organisations need different things at different times. Accordingly there is really only one question you need to ask about your structure if you want business partnering to be a success and Finance to be positioned as adding value.
Are our Finance Business Partners burdened by month ends, budgets and forecasts?
Finance Business Partnering is about working cohesively with other functions to help solve real business problems that achieve the organisations strategic goals.
And if your FBPs are stuck for 4-5 days a month doing month ends and reporting, another 2-3 doing forecasts and 3-4 months a year preparing budgets then they will not have time to help the other functions and business partner effectively
And even more importantly, you are conditioning the other functions to not engage you. Or worse, work around you.
If every time they turn up looking for help they are told “it’s month end” or “sorry its budget time, come back in 3 months”, then they will walk away and solve their issues themselves. And not have you involved
Because the business issues don’t stop because there is month ends, forecasts and budgets. In fact the business running is way more important than any of those things.
So what’s the best structure to be successful with business partnering.
It doesn’t matter – as long as when business issues arrive, your FBPs are available to work on them. If they aren’t available then it’s not attainable.
PS: Don’t misinterpret this as month ends, budgets and forecasts are NOT important. They are very important. But the value of Finance and business partnering will never happen for you if your FBPs are burdened with those tasks.
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