To elevate the strategic contribution that a finance organization’s FP&A team can make, CFOs should focus on developing the team’s technical, professional and leadership competencies. Specifically, they can use a four-part model that provides opportunities to gain education and experience with exposure to key decision-makers and the expectation that FP&A will function more strategically. Rotating talent from FP&A into the business and back again can also help team members acquire both a broader understanding of the organization and the specialized knowledge that can make this function integral to the organization’s success.

Source: Wall Street Journal June 21, 2017 20:52 UTC