Progressive CFOs are modernizing the FBP role, adopting a finance business partnering model that better leverages the acumen of finance — and exerts that influence earlier in the decision-making process.
FBPs as “decision experts” support many different business managers across a defined set of operational decisions and develop expertise in a decision type (pricing, inventory, renewals analysis, etc.), rather than focusing on general knowledge of a particular business. The result is scalable decision support and an opportunity to create value in a way that’s not possible for business generalists.
To implement this model as part of your overall finance strategy, redefine (versus reorganize) the role of finance business partners. Start by freeing as little as 20% of the team from traditional FP&A activities, and then, as the use of FBP decision experts becomes more widespread, begin to institutionalize learning from past decisions to build expertise and improve future decisions.