FP&A: From the Basics to Strategic Influence with Christian Wittig

FinFactor Business Finance

In this episode of FinFactor, host Blaine Bertsch sits down with FP&A expert Christian Wattig to explore the evolution from basic Financial Planning and Analysis (FP&A) to a strategic role that influences corporate strategy. They dive into the crucial steps businesses must take for this transition, emphasizing the importance of establishing dedicated FP&A teams as companies expand. The conversation highlights the challenges of data overload and the critical role FP&A plays in identifying key metrics. Wattig introduces a maturity model for FP&A development, covering stages from data focus to proactive value creation.

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Watch on youtube: https://youtu.be/BziS-rpMYbU

Connect with Christian: linkedin.com/in/christian-wattig/

Learn about PP&A Prep: fpaprep.com/

Listen on your favourite podcast network or at https://finfactor.buzzsprout.com

#CFO #fp&a #business #finance #podcast #finfactor

Summary

In this episode, host Blaine Bertsch interviews Christian Wattig, an FP&A expert, on the transition from basic FP&A to FP&A that impacts corporate strategy. They discuss the steps businesses can take to make this transition, including the importance of dedicated FP&A teams as companies grow. They also explore the challenges of data overload and the role of FP&A in pointing out what metrics matter. Wattig introduces a maturity model for FP&A development, which includes stages such as data focus, story focus, strategy focus, and proactive value creation. They also discuss the importance of people skills and tailoring communication to gain trust and effectively deliver insights to the management team.

Takeaways

- Startups often begin with the founder handling FP&A tasks, but as the company grows, dedicated FP&A teams become necessary for more forward-looking work.

- FP&A teams play a crucial role in pointing out what metrics matter in the midst of data overload.

- The maturity model for FP&A development includes stages such as data focus, story focus, strategy focus, and proactive value creation.

- Building trust and effective communication in FP&A involves extending trust, sharing personal stories, admitting mistakes, and creating an environment where dissent and negative opinions are welcomed.