Welcome to FP&A Tomorrow, where we discuss financial planning and analysis, examining its current state and future prospects, with your host Paul Barnhurst.

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In today’s episode, Paul engages in a thought-provoking conversation with the awesome Jim Cook and Winnie Aoieong, for a fascinating discussion on the importance of decision-making systems, the value of trust in business partnerships, and the role of generative AI in modern FP&A.

Jim Cook, former CFO of Mozilla with a rich history at Netflix and Intuit, shares his valuable insights on effective decision-making systems and the power of community building.

Winnie Aoieong, VP of Business Finance at PowerSchool, discusses her experience in scaling financial operations and the critical balance of technical skills and business communication.

Key takeaways from this week's episode include: :

Here is a concise summary of the key points from the discussion:

Great FP&A goes beyond data analysis to create effective decision-making systems, allowing businesses to make strategic decisions based on comprehensive insights.

Building strong, trust-based relationships with business partners is essential for effective collaboration and achieving organizational goals.

Discussion on harnessing the power of community and crowdsourcing can significantly enhance problem-solving and innovation within an organization.

How to balance technical skills with effective communication is crucial for translating complex financial data into actionable business strategies.

Adaptability to embrace a mindset of continuous improvement and learning from failures. Progress over perfection drives long-term success.

Utilization of generative AI for tasks like meeting summaries and action item tracking can enhance efficiency and focus on high-value activities.

Leadership development within the team and creating a safe environment for challenging assumptions encourages innovation and growth.

Quotes:

Here are a few relevant quotes from the episode about the importance of decision-making systems, building trust in business partnerships, and the role of generative AI in enhancing FP&A efficiency:

"Great FP&A is the balance of technical skills and translating that into actionable plans to communicate with the business."

"Ultimately what they're trying to do is partner with their department business unit and create excellent decision-making systems because that's what our data is eventually doing."

"A relationship builds on trust. So trust comes from your capacity, your capabilities, but also your way of wanting to build that alliance with whoever you work with."

"Mozilla taught me about how powerful communities are. Communities always win."

"Perfection is a prison. It's about always progressing and improving because there is always room to get better."

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Leveraging Data Insights For Smarter Business Decision Making with Jim Cook and Winnie Aoieong

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