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In this episode of the FP&A Unboxed Podcast, host Tejas Parikh speaks with Kevin Flaming, Chief Financial Officer at Elder HQ, a role he has held for nearly six years. Kevin shares his unique journey from auditor and accountant to CFO, highlighting his passion for using finance as a strategic partner to drive business success. They discuss how FP&A plays a pivotal role in guiding business decisions, the importance of aligning finance with operational realities, and the power of storytelling in influencing stakeholders. Kevin also shares fascinating insights on leveraging AI to transform customer insights and the evolving role of FP&A in agile, fast-paced businesses.

This episode is packed with real-world examples and practical advice for finance professionals seeking to elevate their role and impact within organizations.

Key Takeaways

Strategic Finance: Finance guides the business like a radar and rudder, not just a back-office function.

Data Integration: Combining operational and financial data drives deeper insights and better decisions.

Aligned KPIs: Simple, clear KPIs aligned across departments prevent silos and promote success.

Storytelling: Translating data into relatable stories influences cross-functional leaders.

Agile FP&A: Frequent performance reviews enable early issue detection and quick adjustments.

Early Leadership: Strategic finance leadership early on boosts valuation and readiness.

AI Insights: AI helps predict customer behavior and reduce churn proactively.

Curiosity: FP&A pros must stay curious, dive deep, and challenge assumptions.

Noteworthy Quotes

"Finance is the radar and rudder of the ship." – Kevin Flaming

"Overlaying operational data with financials gives you a fundamentally different view of the business." – Kevin Flaming

"Storytelling is essential, translating financials into language non-financial stakeholders understand." – Kevin Flaming

"Bring in your finance leadership early, ideally 2-3 years before a fundraising or exit event." – Kevin Flaming

"Curiosity is key, be willing to get into the weeds and challenge the status quo." – Kevin Flaming

Key Timestamps

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

[00:01:15] Introduction & Kevin’s Career Journey

[00:05:35] Finance as the Radar and Rudder of Business

[00:07:30] Case Study: Online vs Offline Customer Journey & Data Insights

[00:13:30] FP&A Operating Rhythm & Alignment with Strategy

[00:17:00] KPIs & Business Equation Simplification

[00:22:30] The Role of Storytelling in Finance

[00:39:30] When to Bring in Strategic Finance Leadership

[00:44:00] Impact of Early Finance Leadership on Business Valuation

[00:46:00] Using AI to Understand Customer Behavior & Predict Churn

[00:51:36] Skills & Certifications for Aspiring FP&A Professionals

FOLLOW OUR GUEST KEVIN FLAMING ON:

LinkedIn: https://www.linkedin.com/in/businessoxygen/?originalSubdomain=uk

Company: https://elder.org/

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

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