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1NY:BS
The Transition of the Finance Function to Value Added Business Partners
Pernilla Nyberg
FP&A Summit
June 2nd
– 3rd, 2011
London
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2NY:BS
Nike Inc. – the world’s leading sports brand
To bring inspiration and innovation to every athlete* in the world. *"If you have a body, you are an athlete." - Bill Bowerman
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3NY:BS
Lance Armstrong
Seven straight Tour de France victories 1999 - 2005
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4NY:BS
The Finance Function
Transition to Value‐Added Business Partners to drive sustainable and
profitable growth, improved forecast accuracy and ultimately
Shareholder Value
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5NY:BS
My Approach
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6NY:BS
The importance of a common goal
Winning is a Team Effort: Lance Armstrong didn't’t win all these tours without the help of his team. The team consists of other riders, coaches, mechanics, doctors, and others. The riders are there to work together, they create wind tunnels and help pace each other. Many times one team member must sacrifice themselves for their leader. Regardless, no one is winning any tours without the help of a team.
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7NY:BS
The same applies to the corporate world
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8NY:BS
Challenge for the Finance Function
•
Current Workload?
•
Transactional work?
•
No time?
•
Appropriate skills?•
Finance seen as
business partners?•
Do the business
partners want to come & play?
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9NY:BS
Traditional view of the Finance FunctionFROM
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10NY:BS
Future Finance function
TO
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11NY:BS
Transition the Finance function
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12NY:BS
Transition Plan to Value‐Add
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13NY:BS
Finance serves multiple Partners
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14NY:BS
Focus on Internal Business Partners
HRHR
CategoriesCategories
SalesSalesBusiness UnitBusiness UnitMerchandisingMerchandising
WHQWHQ
Legal CounselLegal Counsel
OperationsOperations
Demand PlanningDemand Planning
MarketingMarketing
EHQEHQ
LogisticsLogistics Customer ServicesCustomer Services
RetailRetail
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15NY:BS
Finance to align the pipe
Finance to take the Lead
Flexible, Dynamic & Organic
Get all players to come and play
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16NY:BS
A great deal of flexibility is required…
Seven straight wins between 1999 to 2005, after a brief retirement he returned in 2009 and finished overall 3rd. In 2010 he stated after 8th stage his tour was finished but intended:“to complete the race and support his team”
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17NY:BS
…and so is a Clear goal aligning all teams
“A boo is a lot louder than a cheer. If you have 10 people
cheering and one person booing, all you hear is the booing.”
Lance Armstrong
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18NY:BS
What is the Definition Value Add?
Define Value Addfor both our Business
Partners &
us as a Finance Function
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19NY:BS
Expectations of the Finance Function
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20NY:BS
One Approach of ‘adding value’ is:�
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21NY:BS
Create Capacity & Build Capability�
An Athlete is continuously creating Capacity and building Capability to enhance their performance
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22NY:BS
Same goes for the Finance Function
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23NY:BS
Efficiency improvement
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24NY:BS
Create Capacity through efficiency
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25NY:BS
Performance Improvement
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26NY:BS
Build Capability through Talent Strategy
Clear Job description & required competencies
Training & Development
Career & SuccessionPlanning
Talent Acquisition Plan
Performance Management Culture
Robust Appraisal Process
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27NY:BS
But what about
the Business Partner?
So if Finance Create Capacity and Build Capability
How can we get the Business Partners to Partner up with us
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28NY:BS
Understand their Challenge
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29NY:BS
Finance need to rise to the
Challenge
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30NY:BS
Inspire & Guide our business partner
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31NY:BS
Not one solution fits all
•
Customised Approach
•
Relevance for Business Partner
•
Large Investment but with a great return
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32NY:BS
Divide Business Partners in Target groups
Categorise the Business Partners into Target Groups:
•Total Organisation
•Individuals
•Individual Functions
•Sub‐teams
In order for us to focus partnership
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33NY:BS
Business Partner: Total Organisation
Instill Finance Acumen in the Organization:
Education & Awareness
Finance for Non-Finance ManagersShareholder Value Training
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34NY:BS
Key Individual Business Partners
Successful approach for Senior Business Partners e.g. Mngt team members, Dept
heads, or key contributor‐ roles
Tailored 1/1 Approach
Openness, Trust, Respect
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35NY:BS
Individual Functions as Business Partners
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36NY:BS
Achieve greater results
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37NY:BS
Sub‐teams of Business Partner
Clusters of functions and business partners
Integrated Processes
Focus on Cross functional alignment
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38NY:BS
Example of a Sub‐team approach: S&Op
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39NY:BS
S&Op: Finance to take the lead
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40NY:BS
S&Op: Roles & Responsibilities
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41NY:BS
S&Op: Agenda
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42NY:BS
Cycle of Value‐Add Business Partnership
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43NY:BS
Finance in great position to take the lead
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44NY:BS
In Summary
Capac
ity
Capac
ity
Inspir
e
Inspir
e
Capabi
lity
Capabi
lity
GuideGuide
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45NY:BS
And remember…
“If you worried about falling off the bike, you’d
never get on.”
“Pain is temporary. Quitting lasts forever.”
Lance Armstrong
THANK YOU!