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Finance + Business =A Happy Marriage?
David Colson, CPATreasurer & VP of Finance
2015 ROCKY MOUNTAIN SUMMIT
2015 ROCKY MOUNTAIN SUMMIT
What Makes a Good Marriage?
2 parties who positively support and challenge each other to make solid
life decisions
YOU + Business
2015 ROCKY MOUNTAIN SUMMIT
Characteristics of a Good Marriage
CompromisePlanning for the future
Adapting to changeTrust
Commitment
2015 ROCKY MOUNTAIN SUMMIT
FP&A Areas of Opportunity:Decision Support
Budgeting & Strategic PlanningEffective ForecastingBusiness Partnering
Team Building
Leads to Corporate Influence
2015 ROCKY MOUNTAIN SUMMIT
Decision Support(Ad hoc Projects)
Considerations:Cost/Benefit Relationships
Risk vs. RewardHow do we quantify?
Compromise
2015 ROCKY MOUNTAIN SUMMIT
Decision Support(continued)
Key Take Aways:Facts and Data NOT People and Personalities!
Resources are Limited
Compromise
2015 ROCKY MOUNTAIN SUMMIT
Budgeting Video
2015 ROCKY MOUNTAIN SUMMIT
Budgeting
Basic Budgeting:Financial roadmapManage resources
Influential Budgeting:Is your budget founded on a strategic
plan?
Planning for the future
2015 ROCKY MOUNTAIN SUMMIT
Forecasting
How often?Usually monthly or quarterly
Long or short range?Rolling forecasts are better
Adapting to change
2015 ROCKY MOUNTAIN SUMMIT
Forecasting (continued)
Art or Science?Both
How to avoid scenario hell?Goal Posting
Adapting to change
2015 ROCKY MOUNTAIN SUMMIT
Business Partnering
Partner with key decision makers
Advertise your skills
Build credibility
Trust
2015 ROCKY MOUNTAIN SUMMIT
Team Building
Hire the best people
Develop their skills and talent
Show your appreciation
Commitment
2015 ROCKY MOUNTAIN SUMMIT
Recap
Areas of Opportunity for You:Decision Support – Compromise
Budgeting – Planning for the futureForecasting – Adapting to change
Business Partnering – TrustTeam Building - Commitment
2015 ROCKY MOUNTAIN SUMMIT
Happy Marriage
Successful Future
BusinessFinance
2015 ROCKY MOUNTAIN SUMMIT
Questions?
Experiences you would like to share?
