In this episode, Paul Barnhurst looks into practical frameworks and leadership strategies for finance professionals with guest Brett Hampson. Brett discusses what he believes constitutes great FP&A and how grassroots finance transformations, rather than top-down technology implementations, can foster a proactive, value-creating FP&A culture.

Brett Hampson has spent over a decade in corporate FP&A, working with some of the world’s largest companies. He is the author of The FP&A Operating System, a book that outlines his approach to establishing a high-functioning FP&A department. Brett is also the founder of Forecasting Performance, a platform that promotes best practices in financial analysis and forecasting.

Expect to Learn

1. What grassroots finance transformation entails and why it’s preferable to technology-centric approaches.
2. How to implement Brett’s FP&A Operating System and FP&A Flywheel framework to drive efficiency and value.
3. The importance of setting a clear vision and objectives for FP&A teams to move from reactive to proactive operations.
4. How to leverage attribution analysis and storytelling to enhance FP&A’s influence on business decisions.

Here are a few relevant quotes from the episode:

1. “Grassroots finance transformation happens when each person on the team has their own vision and works towards solving specific challenges.” - Brett Hampson
2. “Technology alone doesn’t solve problems. It might fix one, but often creates new ones if cultural issues aren’t addressed first.” - Brett Hampson

With insights into creating effective FP&A systems and teams, Brett Hampson provides a refreshing perspective on FP&A transformation. He highlights the importance of people, process, and then technology, in that order, as the foundation for a high-performing FP&A team.

Follow Brett:

Website - https://bretthampson.gumroad.com/l/proactive

LinkedIn - https://www.linkedin.com/in/brett-hampson/

Newsletter - https://blog.forecastingperformance.com/subscribe

Follow Paul:

Website - https://www.thefpandaguy.com

LinkedIn - https://www.linkedin.com/in/thefpandaguy

Earn Your CPE Credit

For CPE credit please go to earmarkcpe.com, listen to the episode, download the app, and answer a few questions and earn your CPE certification. To earn education credits for FPAC Certificate, take the quiz on earmark and contact Paul Barnhurst for further details.

In Today’s Episode

[02:12 ] - Brett’s Background and Introduction

[05:17 ] - The Creation of The FP&A Operating System

[08:04 ] - Developing a Proactive FP&A Culture

[13:22 ] - Grassroots FP&A Transformation

[16:32 ] - People and Process Before Technology

[29:28 ] - Building the Right Team and Culture

[35:11 ] - Establishing Efficient Processes with the FP&A Flywheel

[39:52 ] - Case Study: Turning Around Forecast Accuracy

[52:16 ] - Final Advice and Wrap-Up