Family Entertainment Group, LLC’s Post

If you can't explain what it does, how can you be so sure you need it? Or, in other words: Finance, a love story. As an outsider brought into an organisation I'm afforded a certain degree of latitude when it comes to asking naive questions. I use that to my advantage as much as possible when I want a client to think critically about something they're taking for granted. A case in point: a client asked us to help them sort out some challenges they were having with their finance team and the relationship with the business unit general managers. Some context. The company was made up of three distinct business units - each reasonably large and successful in their own right. The largest turned over $750m in annual sales, and contributed a little over half the company's profits. The other two units were smaller, but still substantial, at $250m and $350m; also both profitable. They each had their own finance teams, and then there was also a group finance team, which is where the CFO sat. Some reshuffling had taken place a year earlier, moving more of the finance functions into that group team, and the GMs weren't thrilled with the distance it created. During my first meeting with the different stakeholders I asked the question: What is the purpose of a finance function to you? They looked at me like I'd asked them why they breath air. I persisted, though, and they struggled. Really struggled. They were like the proverbial fish unable to understand the concept of water... As we teased into the question it became clear that their rationale for the presence of finance within an organisation was very different to its purpose. And at that point we started to make some headway on how best to design the finance team and its relationship to the rest of the company. #organisationdesign #strategicdesign

What KPIs are the most important for finance operations teams today? The answer may surprise you.   Everyone’s doing more with less these days, and that means way more responsibility and strategic work for finance operations teams, says Pallavi Sud, Head of Finance and Operations at Rutter. In our recent webinar hosted in partnership with Received and Rutter, Pallavi shared why finance operations are the foundation of all strategic business decisioning and which super strategic KPIs many of them are now responsible for. Hear her thoughts here 👇 #finops #financeoperations #accounting #CFO #financeKPIs

𝗨𝗕𝗔 𝗘𝘅𝗲𝗰𝘂𝘁𝗶𝘃𝗲 𝗠𝗼𝘁𝗶𝘃𝗮𝘁𝗶𝗼𝗻 Let us start the week with a powerful quote from Chief Finance Officer (CFO). Elevate the way you treat others. Let your actions speak volumes this Monday and beyond! #MondayMotivation

I spoke with a solid CFO Chris Ortega today who also serves highly regulated #fastgrowth type companies. From start-up to sale. The first finance person on the team is key. We laughed at both being recovering CPA and finance professionals today. SOP’s and #workflows were our topic of the day today. We like the finance function because it interacts with every other function/person of the business. Finances SOP for monthly Sales Forecasts and Operating Expense #budget forces us to speak to Sales function/person and Operations function/person. Finances SOP for closing the books each month forces us to speak with Purchasing function/person and Inventory Management function/person. Finances SOP for Capital Management forces us to speak to the C-Suit persons. Finances SOP for Raising Capital forces us to speak to the Investors and Lenders and Bankers. So the myth of the finance team toiling away in their own world making rules and policies is misrepresentative. All finance does is have strategic and tactical conversations every day with the operations team. And confident operators are confident because they know their numbers. They are confident because they know their profit margin and how much sales they expect this month, quarter, and year. So be nice to your friendly finance person. They are guiding the ship through rough seas.

Say hello to Paul Warris 👋 our experienced finance director. With a deep understanding of financial management and strategic planning, Paul plays a pivotal role in driving our company's financial success. His expertise ensures that we make well-informed decisions to optimize profitability and sustain growth. Scroll through below to learn a few fun facts about him! #FinanceExpert #FinancialManagement #meettheteam #officefurniture #haiken

Lava International Ltd has appointed Rajesh Sethi as the new group chief financial officer (CFO). Lava International Limited | Rajesh Sethi Click on the link below to know more... #retailnews #retailtrends #retailsector #retailindustry #retailing #retailresults #retailupdates #businessnews #retailgrowth #retailsectornews #retailindia #retailtrends #retailbusiness #ir #IndiaRetailing

A CFO's Perspective On Current Business Needs In a conversation with #AsiaBusinessOutlook Magazine, Sunanda Pieries, Chief Financial Officer, Anverally & Sons (Pvt) Ltd, Sunanda discussed the impact of technology on finance, staying updated on tech advancements, effective long-term value creation in changing markets, and a growth-driving financial strategy. Read More. https://goo.su/2SX07 #BusinessNeeds #financialstrategy #ArtificialIntelligence #financialleadership #BusinessProcessOutsourcingIndustry #financialgrowth

Why are there so many posts claiming that CFO's need to move away from being bean counters posted by Finance people who are desperate to differentiate themselves. The vast majority of CFO's and the perception of them being bean counters was dispelled in the 90's when they led the way with early digitisation. If you are a finance professional trying to differentiate yourself then perhaps start by talking about how you can really add value in the broader context of the business. Trying to differentiate yourself against something that has not really existed for 30 or so years and clinging to the bean counters tripe just makes it look like you have limited senior finance experience.

In the world of finance and business management, the roles of a Financial Controller and a Chief Financial Officer (CFO) are distinct, each with its own set of responsibilities and scope. Knowing the key differences about both roles and how vital they are to a company's financial health can help businesses ensure they have the right expertise in the right places To find out, click here https://bit.ly/3Q8dJDY #Finance #CFO #Controller #BusinessFinance #Accountero

How finance directors go above and beyond Finance Director of the Year, Becky Glover, discusses the importance of having several strings to her bow as she reflects on her rise up the ranks... Read the full article via the link in the comments.... #accountancyrecruitment #financedirector #FD