FP&A Today - Episode 20 - How FP&A Drives Revenue at The Economist
Show Notes
Howard Tunnicliffe studied chemistry originally. Once he realized he “wasn’t the greatest experimental chemist ever” he made a switch to finance.
It was during an audit contractor role at US tech company Dell in 2007 that his eyes were opened to an unseen part of finance: the “rockstars of FP&A”. He saw FP&A as a place which joined “psychology” with the “nuts and bolts of how companies actually make money”.
Howard is now Head of FP&A in the subscriptions business at The Economist. The newspaper dates from 1843 and is consumed by 1,185,000 of the most highly influential subscribers in the world.
In this practical and frank episode, Howard reveals the inside story of his career in FP&A and how a revamped FP&A function has driven growth at The Economist.
Howard talks with Paul about:
How a relationship break up caused Howard to focus on soft skills that now define his career
How the FP&A team are told to find analysis and insights which contribute to paying back their salaries up to five-times
Moving core metrics from “volume” to “value” as a response to digitization of news
The importance of moving from hybrid roles to “centers of excellence” in finance
The key to successful business partnering with sales and marketing teams concentrating on drivers which bring sales
How FP&A managed a pricing strategy that increased total revenue by 15% and customer lifetime value by 20%
Though “unglamorous”, how listening in finance is key to all good finance work
Book recommendations to enhance soft skills that have transformed his career
His favorite Excel function!
Book Recommendations from Howard:
Cal Newport, Digital Minimalism,
Brian Tracy, Eat That Frog
Daniel Goleman, Emotional Intelligence
Howard’s Courses
Grab these courses offered by Howard Tunnicliffe to improve your Soft Skills in Finance::
Become a Confident Networker
Leadership and Influencing
Follow Howard Tunnicliffe on LinkedIn
Follow Paul Barnhurst on LinkedIn
Follow Datarails on LinkedIn
FP&A Today is brought to you by Datarails.
Datarails is the financial planning and analysis platform that automates data consolidation, reporting and planning, while enabling finance teams to continue using their own Excel spreadsheets and financial models.