A finance business partner is a professional who works as an outside advisor to the finance department of an organization. Finance business partners are accountants or financial analysts who work closely with the finance department to track financial data, forecast and analyze current and financial performance to help guide strategic decision making and establish long-term strategy. This professional assists in identifying the finance department’s future needs and seeks to partner with the finance department in planning for the future. The relationship between a finance business partner and finance department is a very symbiotic one where the finance business partner ensures that the finance department is properly staffed and reports audited financial data on a regular basis, reporting directly to the finance department. The finance business partner will also ensure that any opportunities for additional financing offered to the organization’s projects are identified and planned for.
In today’s ever-changing market, it is becoming increasingly difficult for organizations to add value to their clients by providing on-going solutions to problems. There is a plethora of solutions providers out there who are willing to provide ongoing finance services to organizations at affordable rates, often times at discounting their overall service fee to ensure that you are able to move forward with your plans without having to spend additional funds. By partnering with finance business partner companies, you can get the best of both worlds: you can take advantage of their knowledge and experience while they assist you with yours. Partnering with a finance business partner means you have someone on your side who is experienced and qualified in providing the finance services you require while saving you money on their services and expertise. After all, who would want to take on additional work themselves when they can have the finance services of an expert?
There are many soft skills and technologies that finance business partners possess that make them attractive to organizations who are looking to partner with them. The most important soft skill that finance business partners possess is the ability to connect with people well. This is a talent that can translate directly into making connections with your customers, clients, and other key players in your organization. Another important soft skill is being able to effectively communicate with others in a non-threatening manner. It is imperative that finance business partner companies understand that communication is key to building long-term, financially sustainable relationships.