FP&A Evolution for Finance Pros to Replace Excel & Reporting with Predictive Tech and EQ - Andy Cox

FP&A Unboxed

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In this episode of the FP&A Unboxed Podcast, host Tejas Parikh from Akshar Business Consulting Ltd speaks with Andy Cox, the founder of Optimum Value Limited. They discuss the evolution of finance business partnering, particularly in the context of rapidly changing business environments driven by technology and data. Andy shares his extensive experience in the technology, media, and telecommunications (TMT) sectors, emphasizing the shift in finance roles from traditional reporting to strategic business support.

Andy highlights the need for finance professionals to adapt to changes, embrace technology, and develop their emotional intelligence to succeed as true business partners. If you're a finance professional, this episode offers an in-depth look at how finance business partnering is evolving and what steps you can take to ensure you stay ahead in your career.

Key Takeaways

Embracing Technology – Automation and AI are shifting finance roles from reporting to offering strategic insights.

Leadership and Culture – Strong leadership fosters a culture of empowerment and collaboration, as demonstrated at Microsoft.

Emotional Intelligence (EQ) – EQ is crucial for building relationships and influencing business decisions.

The Power of Data – Data science is transforming financial decision-making, enabling finance professionals to add greater value.

Being Brave and Bold – Stand by your convictions, ask the right questions, and make bold recommendations.

The Future of FP&A – FP&A roles will focus more on business partnering and data-driven insights over the next 3-5 years.

Noteworthy Quotes

"Finance isn’t just about counting the dots; it’s about joining them and connecting the entire business." – Andy Cox

"You need to have the right mindset to help your organization grow, and technology is there to help support that growth." – Andy Cox

"It’s about asking the right questions, not having all the answers." – Andy Cox

"Embrace change and technology—it’s the future of the finance profession." – Andy Cox

"The real value comes when finance professionals stop just reporting and start recommending the next steps for the business." – Andy Cox

Key Timestamps

[00:00:00] Coming up next and Call to Action

[00:01:11] Guest Introduction & Overview of Optimum Value Limited

[00:02:11] Andy's Career Journey: From TMT Sector to Finance Business Partner

[00:09:30] Importance of Understanding How Business Functions Work Together

[00:12:33] The Role of Emotional Intelligence in Finance

[00:15:45] How Technology and Automation Shape the Future of Finance

[00:20:14] How Marketing and Finance Can Work Together

[00:23:09] The Role of Data Science in Finance

[00:32:25] Balancing Financial Controls with Strategic Decision-Making

[00:37:10] Building Relationships and Understanding Internal Customers

[00:42:56] Key Tips for Developing Stronger Financial Business Partnerships

[00:47:00] Predictions for the Future of FP&A and Finance Business Partnering

FOLLOW OUR GUEST ANDY COX ON

LinkedIn: https://www.linkedin.com/in/andrewcox1/

Website: https://www.optimum-value.co.uk/

FOLLOW OUR HOST TEJAS PARIKH ON:

LinkedIn: https://www.linkedin.com/in/tejasparikh/

Website: https://aksharconsulting.co.uk/

FOLLOW FP&A UNBOXED PODCAST ON:

Website: https://aksharconsulting.com/

LinkedIn: https://www.linkedin.com/company/aksharconsultingltd/

Instagram: https://www.instagram.com/aksharbusinessconsulting

X: https://x.com/AksharBusiness

TikTok: https://www.tiktok.com/@abcl560

Spotify: https://open.spotify.com/show/22UeMzvc1G7rTk56EVVfKW?si=fa8c7bbb6448462c

Apple Podcast: https://podcasts.apple.com/us/podcast/fp-a-unboxed/id1802152900