20 Things that Financial Business Analysis Done Right Is Not - Part 2
Why start with what it is not?
Because we first need to align on what we are not talking about so that we can then move forward, in more detail, getting down to what we are talking about!
20 Things that Financial Business Analysis Done Right Is Not …
It Is Not:
Well understood both inside and outside of the “Finance Function”
Accounting, Bean Counting, Bookkeeping
Auditing
Treasury Management
“Backoffice Work”
An all encompassing definition for all members of a “Finance Function” or the people who report to a CFO
Focused inward on the “Finance Function”
More or less important than the rest of the “Finance Function” (think different…not better)
Analysis of IT infrastructure relative to business requirements (that is often referred to as just “Business Analysis” – just Google it to see what I mean)
Focused solely on the numbers
Disconnected from Sales, Marketing, Operations, Logistics, Procurement and the rest of the Business Functions
Made up of team members who all have Accounting or Finance Degrees and/or “Traditional Accounting Backgrounds”
Highly industry specialized (frequently the opinion of Finance People)
Industry agnostic (frequently the opinion of non-Finance People)
Something only very large companies need or can afford
Easy to setup and establish from scratch or via transformation (if it were easy, we would all do it, right?)
Impossible to setup and establish (where there is a will, there is always a way)
Hard to “do” if people want to learn and are committed to the goal (as I like to say, “It’s not Nuclear Engineering”)
One size fits all
Radically different in each industry, company or department