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FP&A Tomorrow

FP&A Tomorrow

Paul Barnhurst
Negocio, Educación

FP&A Tomorrow is where we discuss what FP&A looks like today and help shape what it should look like tomorrow by interviewing the best and brightest people in FP&A globally.

9 - Harnessing FP&A For Enhanced Business Growth & Success with Julian Castelli
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  • 9 - Harnessing FP&A For Enhanced Business Growth & Success with Julian Castelli

    In today’s episode, Paul engages in an insightful interaction with Julian Castelli, for a discussion about the transformative role of FP&A and evolution from basic finance to a strategic role influencing business decisions and investor relations, highlighting his leadership experiences and the importance of core values.


    Julian is currently serving as a board director and board chair. With experience as a board director and operating partner many times over, Julian assists SaaS and Marketplace technology companies in areas like strategy, team development, growth execution, fundraising, executive coaching, and board governance. He began his career in investment banking at Goldman Sachs and later worked as a consultant at McKinsey & Company. 



    Key takeaways from this week's episode include: :


    Here is a concise summary of the key points from the discussion:



    The competitive dynamics and funding needs of marketplace and SaaS (Software as a Service) businesses. SaaS businesses can be more capital efficient and have multiple successful players compared to winner-take-most marketplaces.



    The transformative power of adhering to and actively promoting company values, even in crisis, which can galvanize a team and reinforce commitment to the organization's mission and customer service.



    Growth-stage companies need sophisticated FP&A to meet investor expectations and aid decision-making. FP&A should influence a company's financial and strategic decisions, not just report on them.



    Promoting company values strengthens internal culture and aligns team actions with the organization's mission. Companies must evolve from managing daily finances to integrating broad strategic financial planning.



    How skills from varied roles like investment banking and consulting can enhance FP&A effectiveness. Exposure to various business aspects through FP&A provides a strong foundation for leadership roles.



    The discussion highlights the necessity of presenting financials in a way that aligns with investor expectations, which is often different from traditional accounting reports. 



    The title sponsor for this week’s episode of FP&A Tomorrow is the Plan Buddies. Join Plan Buddies. Plan Buddies, where professionals meet excellence. This isn't just any community. It is a community run by and for planning professionals. At Plan Buddies we’re all about fostering connections, sharing knowledge, and providing mentorship among FP&A experts. Ready to elevate your career? Visit plan-buddies.com and become a member today. Here's a special treat. Use the promo code the FP&A Guy, that is TheFPandAGuy for an exclusive 25% discount on your first-year membership.


    Quotes:


    Here are a few relevant quotes from the episode about FP&A's transition from basic finance to a strategic role, the critical importance of financial planning and analysis, and the influence of leadership and core values in navigating business challenges.



    "So without FP&A, you can't see what's ahead of you."



    "But if you present a P&L like that [Natural Account Line] to an investor, you might end the meeting right there."



    "Unfortunately, I'm kind of shocked that the ERPs out there make it so difficult to actually produce financial reporting the way the investors want."



    "FP&A is not just a luxury; it's essential as you scale and begin dealing with institutional investors."



    Follow Julian:


    LinkedIn - https://www.linkedin.com/in/juliancastelli1


    Follow Paul:


    Website - https://www.thefpandaguy.com 


    LinkedIn - https://www.linkedin.com/in/thefpandaguy



    For CPE credit please go to earmarkcpe.com, listen to the episode, download the app, and answer a few questions. For AFP FPAC certification answer the questions and contact Paul Barnhurst for further details.



    In today's episode:


    [01:16] Introduction


    [03:20] Guest’s background


    [05:50] How did previous experiences prepare Julian for FP&A expertise


    [08:35] Turning critical information into actionable reporting


    [11:05] How the value of FP&A goes beyond controller or bookkeeping


    [28:20] Guest’s view about the evolution of FP&A 


    [30:22] Interesting facts and differences between SaaS and Marketplace


    [41:49] Guest’s career journey and previous experiences


    [48:27] Upcoming event promotion


    [49:56] Rapid-fire session


    [52:24] Guest’s personal insights.


    [55:27] Advice for being a better business partner 


    [57:27] Conclusion

    Thu, 16 May 2024 - 58min
  • 8 - How FP&A Expertise Paves the Way for Becoming a Chief of Staff with Trevor Anthony

    Welcome to FP&A Tomorrow, where we discuss financial planning and analysis, examining its current state and future prospects, with your host Paul Barnhurst.

    The title sponsor for this week’s episode of FP&A Tomorrow is the Third Generation FP&A Tools Showcase. Join the Showcase and see the latest technology in FP&A planning software. Register for free today at https://www.accelevents.com/e/fpatoolsshowcase


    In today’s episode, Paul Barnhurst engages Trevor Anthony, for a fascinating discussion on the evolution of financial planning and analysis (FP&A) and how artificial intelligence (AI) is shaping its future.


    Trevor, a seasoned Chief of Staff at FranConnect, excels in transforming FP&A roles into powerful business partnerships that drive organizational success. With a rich background in private equity-backed software companies, Trevor is known for his expertise in creating simple and impactful financial models, he simplifies complex financial data into actionable intelligence.


    Key takeaways from this week's episode include: :


    Here is a concise summary of the key points from the discussion:


    How AI could significantly reduce costs and streamline operational processes, positioning FP&A to be more efficient and strategically integral to businesses.


    The importance of mastering the skill of creating clean and straightforward financial models for FP&A professionals. By prioritizing simplicity and clarity, these models become crucial tools for delivering precise financial data for business insights.


    The value of experience, mentorship, and strategic thinking in the evolution of FP&A professionals. It stresses how these elements help transition from traditional analytical roles to more influential positions.


    How private equity (PE) impacts FP&A operations, setting high expectations for teams to act as the definitive source of truth within companies.


    The discussion highlights how PE firms demand thorough, detailed financial reporting and forecasts, reflecting their reliance on FP&A teams to provide thorough insights and accurate analysis to guide investment decisions and business strategies.


    The discussion also highlights the anticipation of a future where AI not only supports but enhances the FP&A functions across various industries.


    Quotes:


    Here are a few relevant quotes from the episode about the strategic thinking around technology investment, the value of networking, the importance of responsiveness in professional settings, and the encouragement for community engagement:


    "The best FP&A groups, I've seen, have solidified themselves as a mission-critical function, not just to check the box type of group."


    "First and foremost, keep it simple. I think in the sales process, they demo flashy things... focus on what the tool does."


    "The beginning of what I'd call a business partnering relationship was when I'd sit down with the business owner and have to intimately understand their business and their financials."


    “Dealing with ambiguity, especially when you're working with senior leaders, they constantly vaguely describe things. You, as a professional, need to understand what that means.”


    “If you're like a traditional corporate FP&A person or you're just a data analyst, find those opportunities."


    Follow Trevor:

    LinkedIn - https://www.linkedin.com/in/trevoranthonyWebsite - https://www.franconnect.com

    Follow Paul: 

    Website - https://www.thefpandaguy.com LinkedIn - https://www.linkedin.com/in/thefpandaguy


    For CPE credit please go to earmarkcpe.com, listen to the episode, download the app, and answer a few questions. For AFP FPAC certification answer the questions and contact Paul Barnhurst for further details.

    Thu, 09 May 2024 - 43min
  • 7 - Evolution of FP&A and Insights on Wharton Online Program With Christian Wattig

    Welcome to FP&A Tomorrow, where we discuss financial planning and analysis, examining its current state and future prospects, with your host Paul Barnhurst. 

    The title sponsor for this week’s episode of FP&A Tomorrow is Wharton Online, one of the world's leading business schools. The gateway to mastering financial planning and analysis through a rigorous, comprehensive curriculum crafted by industry experts is only a click away- https://wallstreetprep.wharton.upenn.edu


    In today’s episode, Paul Barnhurst engages Christian Wattig on the journey into the evolving world of financial planning and analysis.


    Christian Wattig, a seasoned FP&A professional and educator. As the program director for the Wharton Online and Wall Street Prep FP&A Certificate, Christian brings a wealth of experience and innovative strategies to the table. He shares how AI and technology are transforming the field.


    Key takeaways from this week's episode include: :


    Here is a concise summary of the key points from the discussion:

    How excellent FP&A practice hinges on making solid business recommendations from detailed analysis and storytelling, emphasizing the importance of implementing and monitoring these recommendations for impactful outcomes.


    The discussion is on how AI and new planning tools are revolutionizing FP&A by streamlining data collection and reporting, thus allowing analysts to concentrate more on strategic analysis and business partnerships.


    Insights into a career that transitioned from major corporations to spearheading an FP&A education venture, sharing valuable lessons from varied professional experiences.


    Introduction to a new certificate program that merges technical FP&A skills with interpersonal development, designed to equip professionals with comprehensive financial planning and analysis expertise.


    The discussion highlights the importance of digging beyond the surface of financial data to find actionable insights and the art of crafting these insights into stories that drive strategic business decisions.


    The reflection on the personal gratification from teaching and mentoring in FP&A, and anticipation of the future developments in the field as technology and analytical methods advance.


    Quotes:


    Here are a few relevant quotes from the episode about FP&A skills and making concrete, impactful business recommendations:


    "FP&A is at its best when you make a concrete recommendation that helps the business move forward."


    "With AI and not just with AI, but also with FP&A and planning tools and software, it will be possible that you don't have to pull data from lots of different sources."


    "When you're just taking people and walking them step by step through how I build a financial model from scratch, it's a different way of teaching."


    “Give them those metrics, those insights, or you can get them something that gets them at least halfway there. By doing that, you can demonstrate that you want to do more than just cutting budgets and updating forecasts.”


    Follow Christian:

    LinkedIn -https://www.linkedin.com/in/christian-wattig/Website - https://wallstreetprep.wharton.upenn.edu/

     Follow Paul: 

    Website -https://www.thefpandaguy.com LinkedIn -https://www.linkedin.com/in/thefpandaguy


    For CPE credit please go toearmarkcpe.com, listen to the episode, download the app, and answer a few questions.  For AFP FPAC certification answer the questions and contact Paul Barnhurst for further details.

    Thu, 02 May 2024 - 48min
  • 6 - From CFO to Fractional Leadership Navigating AI and Financial Growth with Tom Schultz

    Welcome to FP&A Tomorrow, where we discuss financial planning and analysis, examining its current state and future prospects, with your host Paul Barnhurst. 

    The title sponsor for this week’s episode of FP&A Tomorrow is Abacum, the leading mid-market FP&A solution trusted by hundreds of companies to eliminate the spreadsheet struggle.https://www.abacum.io

    In today’s episode with Tom Schultz, Paul had an insightful conversation about the evolving landscape of financial planning and analysis (FP&A) and its implications for fractional CFOs.

    Tom Schultz, founder and CFO of NextGen CFO, sheds light on the crucial skills behind successful financial analysis and the evolving role of technology in finance. From his extensive experience, Tom shares invaluable insights into transitioning from traditional FP&A roles to becoming a sought-after fractional CFO.

    Key takeaways from this week's episode include: :

    Here is a concise summary of the key points from the discussion:

    Professionals in financial planning and analysis are tasked with translating real-world events into financial data, forecasting, and modeling these numbers to plan for future outcomes strategically.The discussion concerns how advancements like AI and prebuilt dashboards might impact the depth of learning traditionally required in FP&A roles. Integrating new technologies poses challenges and opportunities for professionals in the field.The evolution of a career in finance, emphasizing the shift towards providing strategic fractional CFO consultancy.With the increasing demand for fractional CFOs, there's a spotlight on the advantageous position of FP&A professionals looking to transition into these roles.The intent is to offer a comprehensive resource for those interested in the niche, inspired by numerous informal mentorship interactions.The strategic adoption of technology in financial practices, highlighting the importance of aligning technology use with client needs and exploring the capabilities of generative AI to streamline writing and documentation processes in finance.

    Quotes:

    Here are a few relevant quotes from the episode about FP&A and CFO insights:

    "A great FP&A person in my mind is someone who knows what's behind the numbers."

    "It's more in private companies that are slow to hire a professional CFO. I think if you're out there fundraising and I've seen pre-revenue hire a fractional CFO just because they need navigation for investors."

    "The young people coming into this profession, I'm concerned that they'll take that stuff for granted and learn down to the root that we learned."

    "If you look at the CFO in the finance department, the controller and everyone below them tend to look backward in history. The CFO tends to look forward, so the FP&A person is more forward-looking than anyone else in the finance department."

    Join Plan Buddies

    Plan Buddies, where professionals meet excellence. This isn't just any community. It is a community run by and for planning professionals. At Plan Buddies were all about fostering connections, sharing knowledge, and providing mentorship among FP&A experts. Ready to elevate your career? Visit plan-buddies.com and become a member today. Here's a special treat. Use the promo code "TheFPandAGuy", that is the FP&A Guy for an exclusive 25% discount on your first-year membership. 

    Follow Tom:  

    LinkedIn -https://www.linkedin.com/in/tom-schultz-5926815Website - https://www.nextgencfo.com

     Follow Paul: 

    Website -https://www.thefpandaguy.com LinkedIn -https://www.linkedin.com/in/thefpandaguy

    For CPE credit please go toearmarkcpe.com, listen to the episode, download the app, and answer a few questions.  For AFP FPAC certification answer the questions and contact Paul Barnhurst for further details. 

    Mon, 29 Apr 2024 - 43min
  • 5 - The Influence Of FP&A On Business Decision Making with Jon Laudie

    Welcome to FP&A Tomorrow, where we discuss financial planning and analysis, examining its current state and future prospects, with your host Paul Barnhurst.

    The title sponsor for this week’s episode of FP&A Tomorrow is Abacum, the leading mid-market FP&A solution trusted by hundreds of companies to eliminate the spreadsheet struggle. https://www.abacum.io

    In today’s episode, Paul sits down with Jon Laudie, to discuss integrating FP&A into strategic planning and decision-making across businesses.

    With Jon Laudie, CFO at Zerorez, plunge into Financial Planning & Analysis (FP&A) and learn from Jon's rich experience and strategic insights. From his initial roles in investment banking to his current position as CFO, Jon shares his valuable lessons.

    Key takeaways from this week's episode include:

    Here is a concise summary of the key points from the discussion:

    The transition challenges and learnings involved in moving to a CFO position, including dealing with complex financial operations and integrating multiple acquisitions.

    FP&A functions are evolving to become more aligned with strategic finance, significantly enhancing their impact on business decision-making.

    Emerging technologies are streamlining FP&A processes, making them more efficient and reducing reliance on manual tasks.

    Strategies for FP&A professionals to become more strategic and operationally focused are discussed, including building relationships outside of finance and understanding the broader business context.

    Quotes:

    Here are a few relevant quotes from the episode about FP&A and CFO insights:

    “I think great FP&A in my mind is a function that is deeply integrated into the strategic planning and the decision-making of any organization.”

    “We still come across things that surprise us, like, 'Oh, we didn't realize how this is or this contract existed.”

    Follow Jon:

    LinkedIn - https://www.linkedin.com/in/jonlaudieWebsite - https://www.zerorez.com

     Follow Paul: 

    Website -https://www.thefpandaguy.com LinkedIn -https://www.linkedin.com/in/thefpandaguy

    For CPE credit please go toearmarkcpe.com, listen to the episode, download the app, and answer a few questions. For AFP FPAC certification answer the questions and contact Paul Barnhurst for further details. 

    Thu, 25 Apr 2024 - 46min
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