develop UK - What is Finance Business Partnering

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What is Finance Business Partnering?

Finance Business Partnering is a generic term used to describe how Finance aligns itself to organisational strategy in order to provide a service to the Business, which is a true partnership and provides added value.

In recent years it has become popular across corporate and professional functions to engage the functional teams in change and transformation programmes. Sometimes this involves restructuring, for example, centralising shared support and transactional services and more clearly aligning relationship management or ‘Partner’ roles to the Business. Invariably it involves changes in approach and development for Finance Professionals as they become more influential and involved in delivering organisational value.

Key drivers are cost savings through efficiencies, line managers becoming more commercial and financially accountable and the opportunity for Finance to add value through taking a more strategic role with business teams.

One of the key aspects of the approach is that all roles in the function play a part in achieving this and in ‘Partnering the Business’. An increasingly important role in the Finance Structure is the ‘Finance Business Partner’ who is the key relationship manager and interface between Finance and the Business, operating strategically as part of the senior management team for the division they support.

For more information contact Judith.strange@develop.uk.com or telephone +44(0)7866676230