Anders Liu-Lindberg’s Post

7-step problem-solving framework to solve any problem. (this will gain finance pros a seat at the table) I've trained 1,000+ finance professionals in using this framework. Most solved concrete problems that generated millions in value. 1. Define the problem 2. Disaggregate into an issue tree 3. Prioritize root causes or solutions 4. Create a work plan for your analysis 5. Analyze the issues you've identified 6. Synthesize your findings 7. Communicate your recommendation The framework is also used by top-tier consultants from McKinsey. The trick is to avoid jumping to conclusions and solutions. -> Instead, get to the bottom of the issue and explore all potential solutions. 𝘗𝘚. 𝘏𝘰𝘸 𝘰𝘧𝘵𝘦𝘯 𝘥𝘰 𝘺𝘰𝘶 𝘨𝘰 𝘸𝘪𝘵𝘩 𝘵𝘩𝘦 𝘧𝘪𝘳𝘴𝘵 𝘴𝘰𝘭𝘶𝘵𝘪𝘰𝘯 𝘵𝘩𝘢𝘵 𝘱𝘰𝘱𝘴 𝘪𝘯𝘵𝘰 𝘺𝘰𝘶𝘳 𝘮𝘪𝘯𝘥? ————— 🧑💼 I'm a partner at Business Partnering Institute 🆘 Need immediate help in your finance team, call us! 🤝 We help increase the influence of your finance team 🔔 To see more content, hit the bell on my profile 🧑🎓 Enroll in our LinkedIn course: https://bit.ly/4a5fB9l 📻 hashtag#FinanceMaster podcast: https://bit.ly/3NLSt73 📺 Follow us on YouTube: https://bit.ly/4bSBut6 📢 Join our WhatsApp channel: https://bit.ly/3WWGOrc 📄 Check out all our templates and cheat sheets here: https://lnkd.in/eC_zuCU4

How can Finance impact pricing? We teamed up with some pricing experts to find out… On Monday morning, we gathered senior finance professionals at Nimb Hotel in Copenhagen for an insightful executive breakfast meeting. The topic was “Pricing for Finance, and we heard insights from pricing experts NORTH CONSULTING. I started by sharing the ten levers for Finance to drive value creation. 1️⃣ Size of revenue 2️⃣ Debt capacity 3️⃣ R&D investments 4️⃣ Industry trends 5️⃣ Geography trends 6️⃣ M&A program 7️⃣ Resource allocation 8️⃣ Capital expenditure 9️⃣ Productivity improvements 🔟 Differentiation improvement It was under the header “From CFNo to CFGrow”. Seven of these levers relate to growth, of which pricing is a significant factor. We then heard from Michelle Vestergaard at North. She shared the common pitfalls to realizing value from pricing She also discussed potential solutions and the role of finance in implementing these. Participants were left with many insights and inspiration on what to do differently. The pricing staircase was especially a highlight for many, and I imagine we’ll see many of these pop up in finance teams across the Copenhagen area in the coming weeks. A big THANK YOU to everyone who showed up on the day! If you would like to learn more about how Finance can influence pricing, don’t hesitate to contact us. How is Finance involved in pricing in your company? ————— 🧑💼 I'm a partner at Business Partnering Institute 🆘 Need immediate help in your finance team, call us! 🤝 We help increase the influence of your finance team 🔔 To see more content, hit the bell on my profile 🧑🎓 Enroll in our LinkedIn course: https://bit.ly/4a5fB9l 📻 #FinanceMaster podcast: https://bit.ly/3NLSt73 📺 Follow us on YouTube: https://bit.ly/4bSBut6 📢 Join our WhatsApp channel: https://bit.ly/3WWGOrc 📄 Check out all our templates and cheat sheets here: https://lnkd.in/eC_zuCU4

The growth continues at Business Partnering Institute! We're looking for our next associate consultants... Our current three associate consultants are finishing their university studies this Summer. That's not a goodbye, though. We're happy to announce that they have all signed full-time contracts with us at BPI. This could be you, too! We're looking for our next batch of associate consultants to start after Summer. This role is for you if... ✅ You want to work in a niche consulting company that are some of the best in the world at what they do ✅ You want to work with some of the largest companies in Denmark and other large international clients ✅ You want to develop your finance consulting skills with some of the brightest experts in the country ✅ You want to develop an extensive network within Finance in Demark and abroad ✅ You want to get a head start in your career and land amazing roles either in finance or consulting down the road ✅ You want to join a cool and vibrant company with a scale-up mentality looking to expand our footprint in the coming years significantly We have already won two Gazelle Awards and expect the third one this Fall. To apply, you should study for your master's in finance, economics, or similar. You must also be present in Denmark and able to work here. We're looking forward to receiving your application! BTW, we're also looking for senior consultants and managers to join, so if you're interested in working with us, just send me a message. Will you want to join BPI? #finance #consulting #BPI #financemater

Business Finance vs. FP&A. What are the main differences? This is a question we get often. Let's outline the differences: BUSINESS FINANCE - Focused downward into the business - Optimizes operational performance - Integrates financial management into operations - Organized according to the business - Act as a financial advisor to business units - Operationally and tactically focused - Prepares reporting and analysis for FP&A - Business case review - Drives cost and revenue improvements - Objectives align with business leaders - Soft skills are critical FP&A - Focused upward toward management - Optimizes strategic performance - Cascades strategic choices - Organized as a corporate function - Act as a financial advisor to management - Tactically and strategically focused - Consolidates reporting for management - Business case approval - Drives the right strategic choices - Objectives align with the overall company - Modeling and analytical skills are critical Both teams need to be business partners. These teams need to work closely together. Too often, we see them do similar tasks. Too often, they get in each other's way. Too often, the CFO is dissatisfied with the return from both teams. The potential is crazy high. Today's performance leaves a lot to be desired. This comparison will help you clarify the differences. How do you compare Business Finance and FP&A? ————— 🧑💼 I'm a partner at Business Partnering Institute 🆘 Need immediate help in your finance team, call us! 🤝 We help increase the influence of your finance team 🔔 To see more content, hit the bell on my profile 🧑🎓 Enroll in our LinkedIn course: https://bit.ly/4a5fB9l 📻 #FinanceMaster podcast: https://bit.ly/3NLSt73 📺 Follow us on YouTube: https://bit.ly/4bSBut6 📢 Join our WhatsApp channel: https://bit.ly/3WWGOrc 📄 Check out all our templates and cheat sheets here: https://lnkd.in/eC_zuCU4

The CFO should be a strategic business partner. Too often, s/he's caught up in operations... Let's look at the three levels of business partnering. 1️⃣ Operational 2️⃣ Tactical 3️⃣ Strategic At what level do you operate? Most operate at the operational and tactical level, but CFOs and their FP&A teams must push toward the strategic level. Let's unfold each of the levels in detail. OPERATIONAL 1. Financial Reporting and Analysis At the operational level, an FBP focuses on day-to-day financial activities. They generate regular financial reports, analyze variances, and provide insights into budget performance. 2. Cost Control FBPs work closely with departments to monitor and control costs. They identify cost-saving opportunities and collaborate with teams to implement cost-efficient processes. 3. Performance metrics and KPI FBPs develop and track key performance indicators (KPIs). They work with business units to establish meaningful metrics that can be used to evaluate performance. TACTICAL 4. Forecasting and budgeting FBPs assist in creating annual budgets and financial forecasts. They gather input from different business units, validate assumptions, and prepare budget models. 5. Investment analysis FBPs evaluate potential investments and projects. They perform financial modeling, calculate ROI, and conduct risk assessments. 6. Business process improvement FBPs identify opportunities for process optimization and efficiency improvements. STRATEGIC 7. Scenario analysis FBPs help the organization prepare for different economic scenarios and market changes. 8. Mergers and acquisitions FBPs play a crucial role in M&A activities by conducting financial due diligence. 9. Strategic planning FBPs provide financial input and analysis to support the company's strategic roadmap. All CFOs should operate at the strategic level. All FBPs should aspire to become strategic business partners to their stakeholders. How would you define the different levels of business partnering? What are you doing to become a strategic business partner? ————— 🧑💼 I'm a partner at Business Partnering Institute 🆘 Need immediate help in your finance team, call us! 🤝 We help increase the influence of your finance team 🔔 To see more content, hit the bell on my profile 🧑🎓 Enroll in our LinkedIn course: https://bit.ly/4a5fB9l 📻 #FinanceMaster podcast: https://bit.ly/3NLSt73 📺 Follow us on YouTube: https://bit.ly/4bSBut6 📢 Join our WhatsApp channel: https://bit.ly/3WWGOrc 📄 Check out all our templates and cheat sheets here: https://lnkd.in/eC_zuCU4

How competent are you with Excel? Cast your vote 👇 Hold on, isn't this like asking how many feel they're above-average drivers? Perhaps, but you can learn thousands of things about Excel and use it in so many different ways. Few would claim to be average when you take this into account. But let's count the votes. How competent are you with Excel? ✅ Beginner ✅ Intermediate ✅ Advanced ✅ Expert If you need a perspective on how to rate yourself, then check out my post from yesterday, which I have posted 👇 Let's have a guessing game about the results. Post a comment with your vote split. The game closes at noon CEST on 10 June. The winner gets a free 30-minute sparring session with me on a topic of their choice... Here's my guess: 26 % = Beginner 34 % = Intermediate 25 % = Advanced 15% = Expert ————— 🧑💼 I'm a partner at Business Partnering Institute 🆘 Need immediate help in your finance team, call us! 🤝 We help increase the influence of your finance team 🔔 To see more content, hit the bell on my profile 🧑🎓 Enroll in our LinkedIn course: https://bit.ly/4a5fB9l 📻 #FinanceMaster podcast: https://bit.ly/3NLSt73 📺 Follow us on YouTube: https://bit.ly/4bSBut6 📢 Join our WhatsApp channel: https://bit.ly/3WWGOrc 📄 Check out all our templates and cheat sheets here: https://lnkd.in/eC_zuCU4

The Annual Wheel in the Finance Function. The standard work that keeps us busy... What do you spend most of your time on? It's like doing standard work as part of your annual wheel. ✅ Strategic planning ✅ Budgeting ✅ Quarterly forecasting ✅ Month-end reporting ✅ Annual reporting STRATEGIC PLANNING -> Purpose: Update the strategic outlook with actual progress -> Frequency: Yearly, typically in the Spring -> Outcome: Strategic course correction as needed BUDGETING -> Purpose: Allocate resources and set targets for the coming fiscal year -> Frequency: Yearly, typically in the Fall -> Outcome: An activity and financial plan for the coming fiscal year QUARTERLY FORECASTING -> Purpose: Share expectations for our future financial results -> Frequency: Quarterly, but depends on the business cycle -> Qutcome: Tactical course correction as needed MONTH-END REPORTING -> Purpose: Provide a status report to management on financial results -> Frequency: Monthly, but can be more often -> Outcome: Operational course correction as needed ANNUAL REPORTING -> Purpose: Report to shareholders and authorities on financial results -> Frequency: Annual, typically in January + February -> Outcome: A standard report documenting company activities to the outside world It's no wonder finance and accounting professionals are so busy. These processes are also the target of most finance transformations. Most of these transformations fail because they don't consider what's required to create real change. You can use the ADKAR framework for that: A = Awareness D = Desire K = Knowledge A = Ability R = Reinforcement Over the coming weeks, we will present you with a handful of hacks you can use to improve each of these processes. Which of these processes do you work with, and what have you done to improve them? ————— 🧑💼 I'm a partner at Business Partnering Institute 🆘 Need immediate help in your finance team, call us! 🤝 We help increase the influence of your finance team 🔔 To see more content, hit the bell on my profile 🧑🎓 Enroll in our LinkedIn course: https://bit.ly/4a5fB9l 📻 #FinanceMaster podcast: https://bit.ly/3NLSt73 📺 Follow us on YouTube: https://bit.ly/4bSBut6 📢 Join our WhatsApp channel: https://bit.ly/3WWGOrc 📄 Check out all our templates and cheat sheets here: https://lnkd.in/eC_zuCU4

What makes you an expert Excel user? We can start with formulas. Financial Modeling World Cup has made the Excel Formulas Pyramid. It has five levels, from basics to expert. I use some formulas from all levels. That's why some people call me an Excel expert. That's far from the truth. Let's define what makes an expert. 91% say Excel is your favorite spreadsheet tool, so many opinions should exist. Post 👇, and I'll consolidate the answers to understand what makes an expert Excel user. Then, I'll run a poll to see how competent we are at Excel. Let's do this research together, shall we? ————— 🧑💼 I'm a partner at Business Partnering Institute 🆘 Need immediate help in your finance team, call us! 🤝 We help increase the influence of your finance team 🔔 To see more content, hit the bell on my profile 🧑🎓 Enroll in our LinkedIn course: https://bit.ly/4a5fB9l 📻 #FinanceMaster podcast: https://bit.ly/3NLSt73 📺 Follow us on YouTube: https://bit.ly/4bSBut6 📢 Join our WhatsApp channel: https://bit.ly/3WWGOrc 📄 Check out all our templates and cheat sheets here: https://lnkd.in/eC_zuCU4

When you get a chance to present to the CEO, you take it. I didn't... Early in my career, I was tasked with creating a value driver tree for our value chain. The purpose was to break down the measure the group measured our business unit on. In many ways, this is a technical breakdown; however, I would get the chance to present this to everyone on the management team. It should help them understand how they contributed to value creation. Those were high-impact moments where I toured the management team together with the CFO. Do you know how many actions it led to? ZERO! It wasn't my finest career moment but led to good learning. You can create value driver trees like 👇 but if they don't lead to new insights or actions, they're just a finance exercise. Instead, consider which actions (or finance interventions) can improve performance. Even if you don't know, you can use the analysis to highlight gaps and brainstorm with your business leaders on how to address them. Be more than just the technical finance person. Be a finance person of action or someone who can facilitate decision-making. That will boost your career, but technical finance will not. Have you broken your business into a value driver tree? If yes, what actions did it lead to? ————— 🧑💼 I'm a partner at Business Partnering Institute 🆘 Need immediate help in your finance team, call us! 🤝 We help increase the influence of your finance team 🔔 To see more content, hit the bell on my profile 🧑🎓 Enroll in our LinkedIn course: https://bit.ly/4a5fB9l 📻 #FinanceMaster podcast: https://bit.ly/3NLSt73 📺 Follow us on YouTube: https://bit.ly/4bSBut6 📢 Join our WhatsApp channel: https://bit.ly/3WWGOrc 📄 Check out all our templates and cheat sheets here: https://lnkd.in/eC_zuCU4

CFO challenges... How do you manage all the processes in the finance function? Answer: Build The Finance Process House. It's an overview of all the core processes in the finance function. Here are the 21 core processes for CFOs to master: 1. Financial Planning & Analysis 2. Financial Reporting 3. Accounting 4. Treasury Management 5. Tax Management 6. Risk Management 7. Capital Allocation 8. Financial Systems and Technology 9. Cost Management 10. Financial Compliance 11. Strategic Financial Management 12. Financial Communication 13. Employee Benefits Management 14. Financial Policy Development 15. Vendor and Supplier Management 16. Financial Education and Training 17. Sustainability and ESG Reporting 18. Financial Analytics and Business Intelligence 19. Asset Management 20. Cash Handling and Banking 21. Regulatory Compliance It's challenging to manage these on a high level, yet each can be divided into subprocesses that require a whole specialism in their own right. CFOs can only manage these successfully with a great team to back them up. Each team is a brick crucial to the house's stability and performance. One team's struggle may impact the whole house (finance function). What are you doing to manage all these processes in your company? Do you even cover all of them? Should we include any other critical processes in this overview? ————— 🧑💼 I'm a partner at Business Partnering Institute 🆘 Need immediate help in your finance team, call us! 🤝 We help increase the influence of your finance team 🔔 To see more content, hit the bell on my profile 🧑🎓 Enroll in our LinkedIn course: https://bit.ly/4a5fB9l 📻 #FinanceMaster podcast: https://bit.ly/3NLSt73 📺 Follow us on YouTube: https://bit.ly/4bSBut6 📢 Join our WhatsApp channel: https://bit.ly/3WWGOrc 📄 Check out all our templates and cheat sheets here: https://lnkd.in/eC_zuCU4