How Finance Leaders in Small Firms Master Forecasting & Speed to Replace Accuracy - Duke Heninger

FP&A Unboxed

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In this insightful episode of the FP&A Unboxed Podcast, host Tejas Parikh speaks with Duke Heninger, CPA, Partner at Amplēo and creator of CFO systems. Duke brings years of experience in helping CFOs and organizations improve their financial strategy and decision-making processes. He shares his journey from accounting to strategic finance, highlighting how FP&A can drive organizational success through data-driven insights and business partnering.

Duke discusses the importance of speed over precision in smaller companies, the evolution of the CFO role, and how FP&A professionals can shift from traditional accounting functions to becoming strategic business partners. This episode provides actionable tips for CFOs and finance professionals on building effective teams, embracing technology, and making impactful business decisions.

Key Takeaways

Speed vs. Accuracy in Small Business: How prioritizing speed over absolute accuracy can benefit smaller organizations.

Evolving CFO Role: The transition from traditional accounting to a strategic finance role, focusing on business growth.

Building Effective Teams: The importance of having the right people, processes, and technology to elevate the CFO role.

AI in Finance: How AI is transforming finance functions, especially in small businesses, and enhancing productivity.

Business Partnering: The value of communication and understanding the business to become a true finance partner.

Noteworthy Quotes

"Speed is better than accuracy, especially in small businesses where decisions must be made quickly." – Duke Heninger

"The role of FP&A is evolving, and we must embrace technology to help drive better decision-making." – Duke Heninger

"In smaller businesses, you need to balance the technical side with a deep understanding of business operations." – Duke Heninger

"AI won’t take your job, but it will change your job for the better if you embrace it." – Duke Heninger

"To be a true business partner, you must understand not only the numbers but also what drives those numbers." – Duke Heninger

Key Timestamps

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

[00:01:17] Introduction to Duke Heninger and his career journey

[00:04:53] Biggest Breakthrough is Forecasting and Cash Forecasting

[00:07:01] How CFOs evolve from accounting to strategic leadership

[00:12:30] Building the right team with people, processes, and technology

[00:17:45] The impact of AI on finance and business decisions

[00:22:00] How to become a true business partner in finance

[00:27:00] Leveraging technology to improve business performance

[00:47:21] The future of FP&A and its growing importance in smaller businesses

[00:50:42] Closing thoughts: Elevating finance to add value to the organization

FOLLOW OUR GUEST DUKE HENINGER ON:

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

Company (CFO System): https://www.cfosystem.com/

Company (Amplēo): https://ampleo.com/

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

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/@aksharbusinessconsulting?is_from_webapp=1&sender_device=pc