32Summary and Where To from Here?
KEY TAKEAWAYS
Whether you have read this book from cover to cover or focused on selected topics of current interest to you and your organization, I offer the following summary of key points on elevating the contribution of finance as a partner in driving performance and value.
The current business and economic climates, as well as the pace of change, have significantly increased the need for effective FP&A, performance management, and overall financial partnership. Most managers and executives desire better analysis, advice, and service. Finance teams must rise to the occasion and improve the effectiveness of financial business partners. FP&A and performance management generally represent the areas of greatest potential impact for the finance organization.
Organizations should assess the current effectiveness of financial business partners (FBPs) and develop a plan to implement best practices and other improvements. In Chapters 3 and 7, we introduced several frameworks and specific tools, including a best practice assessment and client survey, to assess performance and identify improvement opportunities. Finance teams must develop or acquire skills and competencies to meet high expectations and needs of our clients.
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