The finance department continues to experience rapid change as the role of finance, FP&A and the CFO has changed over the last several years. Today, the role is much more focused on being a strategic business partner and driving value for the business.
“A common theme among successful companies is that the CFO is empowered to work cross-functionally and become the central figure in the organization. To achieve this, the CFO must be supported and work in close collaboration with a strategic FP&A team, which is focused on creating a path to guide the company towards its future goals, rather than discussing its past.”
Jorge LLuch COO at Abacum
Key FP&A Priorities in 2025
As finance and FP&A looks forward to 2025 a number of key priorities have been identified:
M&A Activity – Many companies are exploring M&A Activity as a way to grow especially when many acquisitions in the private market have lower valuations.
Implementation of AI within Finance – Finance leaders are continuing to explore how they can utilize AI to automate processes and gain greater insights through technology.
Renewed emphasis on automation – In addition to AI, there are more ways than ever to leverage technology for managing the sheer amount of data companies are creating. Data only continues to grow while old technology and manual processes are struggling to keep up.
Renewed emphasis on Strategic Business Partnering
Stronger relationship between CFOs and other C-Level Peers.
The above list of priorities was developed after reviewing several articles and what finance leaders shared with the Association of Finance Professionals (AFP). As I review the list I see the key to reaching new heights in 2025 primarily falls into two areas:
Technology – Leverage technology, such as FP&A software tools, to transform the finance department to be more automated and efficient with its process.
Strategic Business Partnering – Finance must be a strategic business partner to support M&A Activity, to strengthen relationships with other departments and to truly move the business forward.
Given the importance of business partnering the rest of the article will focus on what Business Partnering entails and how finance can be a better business partner with the rest of the organisation.
What is Business Partnering?
Business partnering occurs when finance professionals collaborate deeply with other departments to align on goals, leverage shared insights, and drive organizational growth. It’s about moving beyond traditional finance tasks and embracing a dynamic role that includes strategic thinking, decision-making support, and proactive engagement with every facet of the business.
How Finance Can Implement Business Partnering
Finance Business Partnership is what CEOs and business leaders want from their finance team. It’s not enough to just be good with Excel or numbers – it requires working closely with the business and being involved in strategic decision-making.
I once came into a business that didn’t like finance, and it was a long, hard road to change how the business viewed finance. I knew we had a lot of work when one business leader told me this was their first company where they liked Legal more than Finance.
After a few years of implementing many of the strategies we will discuss, I had gained the trust of the business and was viewed as a true Finance Business Partner. One might wonder, how you could be sure the business trusted you?
The General Manager once told me, I not only reported on the P&L, but I helped shape the P&L. Then, he told the new finance hire he wanted her help shaping and influencing the P&L in a positive manner.
The product and sales team asked for my thoughts on how & why we should price the product. Not only had they asked for my thoughts as a finance professional, but because they valued my knowledge of the business.
The best way to tell if you are valued as a Finance Business Partner is by asking yourself, do my business partners want me in the room? Do they value my voice when making important decisions?
“Finance has to be a partner to the business with the help of data. It’s all about questioning whether the decisions made by the company are making sense both internally and externally.”
Gerardo Adame, CFO Verdant Robotics
If the answer is yes, then you are fulfilling the role of Business Partner, and not just being an old-fashion finance professional.
Building trust and credibility is essential…
Building relationships with the business starts with establishing trust. In his book ‘The Speed of Trust’, Stepehn M.R. Covey shares four concepts that are necessary to establish credibility. These four concepts relate to individual finance professionals and teams as a whole: integrity; intent; capabilities; and delivering results.
Integrity – The first concept is integrity. This is foundational to establishing trust. One must maintain high ethical standards, be transparent and forthright with the business and always be true to oneself.
Intent – Building trust requires having the right intent. When it comes to being a business partner, this means putting the needs of the business above your own. If you want to get promoted, focus on the business needs, not your need to be promoted. Others will notice and the level of trust will increase.
Capabilities – Individuals and teams must have the skills to execute the job. If you’re not capable of performing the job, people will come to distrust you – and they won’t come to you when they need help. It’s important to assess the capabilities of your team, including yourself, and develop plans to address any gaps.
Deliver Results – Last but not least, you must deliver results. As finance professionals, we are responsible for helping the business be accountable for the results they deliver. This requires having tough conversations and working with the business to ensure the results we deliver are high quality.
These four concepts will help improve the level of trust between you and the business. In addition to these concepts, many specific strategies exist for becoming a better business partner. Below are ten strategies that can be implemented today to improve your ability to be a great business partner.
“Trust is the glue of life. It’s the most essential ingredient in effective communication. It’s the foundational principle that holds all relationships.”
Stephen R Covey, Author 7 Habits of Highly Effective People
10 Strategies for Becoming a Better Business Partner
As finance professionals, the guidance below will help you become better business partners:
1) Strengthen Cross-Functional Engagement
Learn the business – It’s not enough to understand finance. You need to understand the company’s product, market, and customers. This includes asking for product demos, listening to support calls, and shadowing the sales team.
Understand needs from senior leadership’s perspective – Put yourself in senior leaders’ shoes. Ask what they need and how you can support those goals. Finance has a unique company-wide view, so use it to deliver strategic insights.
Bring your positive, authentic self – Negativity breeds negativity. Stay positive and true to yourself. The business needs the real you, not a version you think you should be.
Focus on the big picture – It’s easy to get lost in data and spreadsheets. Step back regularly and see how your analysis fits into broader company goals.
Be transparent with your business partners – Bad news doesn’t get better with age. Communicate openly and avoid surprises in high-stakes meetings.
Ask the right questions early – Speak up if a new project doesn’t make financial sense. Tough questions are better early on than watching a project fail later.
Act like a business owner – Treat the company’s money as if it were your own. This mindset builds trust and accountability.
Learn to be an influencer – Many good ideas fail when finance can’t effectively persuade decision-makers. Selling your ideas is a skill that requires practice and empathy.
Put your business partner’s needs first and go above and beyond – Finance is a support function, but a critical one. Understand and alleviate your partners’ pain points, and they’ll naturally seek you out for collaboration and guidance.
2) Master Data Storytelling
Become a better data storyteller – Analysis alone won’t drive action if the presentation is weak. Combine data, visuals, and narrative to create compelling stories that resonate with your audience and prompt them to act.
Final Thoughts
Businesses today must adapt at a pace we’ve never seen before, and uncertainty is at an all-time high. Many investor-backed (VC, PE) companies face a “grow or die” moment, which makes Finance Business Partnership critical to success.
Finance can’t just stay behind a spreadsheet. Finance teams need to lead the charge by providing strategic insights and recommendations on crucial areas, like:
The Path to Profitability
How to Accelerate Growth
M&A Activities
Fundraising & Cash Runway
When finance teams focus on being great business partners and value drivers, companies are far more likely to achieve their key priorities in 2025 and beyond. Many studies show companies that implement best-in-class finance and FP&A grow faster than their peers, and at the core of best-in-class FP&A is strong business partnering.
Key Takeaways
Align finance with organizational goals to unlock greater strategic value.
Build trust and credibility by demonstrating integrity, intent, capabilities, and consistent results.
Leverage technology and automation for efficient processes and deeper insights.
Encourage strong cross-functional collaboration to drive business-wide success.
Finance, and especially FP&A, is in a perfect position to help businesses realize their 2025 goals. However, to become the strategic value creators the business needs, finance teams must embrace strategic business partnering.
Learning to develop trust and implementing these 10 strategies will increase your ability to be great business partners. Being great business partners helps you deliver on the CFO’s priorities and the broader finance organization’s objectives. Let’s make 2025 our best year yet by committing to the best business partnering we can achieve.
