Despite the creation of positions such as that of the Finance Business partner by many businesses, a good number of finance professionals still have difficulties when it comes to marrying finance and business management. Since the role of a Finance Business partner is not clearly defined, most of the experts end up doing a wide range of tasks within and organization. This may include reporting, transactional tasks, linking strategy, and execution as well as driving strategic initiatives.
Tasks Associated with Finance Business Partners
To unlock the full potential of Finance Business Partnering and benefit from the services, it will be necessary to define the job description more explicitly. According to Deloitte, the job description of leading Finance Business Partners includes strategic tasks geared towards achieving set priorities, measuring and articulating the value they bring, delivering against the specified finance and business agendas, analyzing financial and operational information using the relevant tools and serving as the top talent within the organization.
Skills Needed for this Role
Although none of the tasks are characteristics are clear, the underlying message is that a Finance Business partner adds value to the bottom-line of the company. To measure the contribution of the expert, there must be tangible value-added. One of the most important skills that the professionals need is excellent communication skills so they can speak finance to non-finance professionals. They should also be able to promote close collaboration between different departments. The role is central to promoting strategic and tactical initiatives as well as in critical business functions.
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