Empower Finance teams in Strategic Planning and decision making with tools, data and skillsets

Thoroughly heartened by this McKinsey article I read recently…. Thought I’d share with my network.

According to this article, the first recommendation for CFOs to
“enhance the role of their finance teams in strategic planning, business analytics, and decision making at all levels of the organization. The best way to do this is to embed finance managers alongside business-unit leaders and empower them to be partners in running the business.”

While I wholeheartedly agree with this recommendation, I believe that they should be embedding “Empowered Finance Managers”…empowered in terms of tools, data and skillsets to support the BUs Leaders with the creation of a data-driven strategy without creating a cottage industry of personnel churning out spreadsheets based on flawed data.

https://www.mckinsey.com/business-functions/transformation/our-insights/a-primer-in-resilience-maximizing-value-beyond-earnings?cid=other-eml-alt-mip-mck&hlkid=b473ffbcb02d4baa87ff4eeae3f74074&hctky=2968703&hdpid=441d4ecc-9c31-4754-9d03-b49ce58c4ea7