R-E-S-P-E-C-T...

29.08.2011
How to influence, even when we lack authority, is one of the finest arts a finance professional can learn.

If we are to be trusted advisors to our clients and management teams, we often must draw on inputs from key people outside of the finance organization. But unfortunately, since those individuals often do not report through finance, our repeated requests for information may go unheeded. These challenges can often leave young finance professionals frustrated and sensing a lack of engagement with their work -- perhaps because they don't feel their work is appreciated or respected.

I have always considered myself something of an operations person in an accountant's body. And this subject of "influencing without authority" has continuously fascinated me.

The events of the past ten years have produced two very different business shifts. One is that innovation must occur more quickly as time to market becomes a differentiating point. The other: Innovation must produce tangible financial results. In many organizations, the days of engineers and marketing spending unlimited resources has ended -- and finance departments are becoming key drivers.

Our young professionals are often , serving as financial analysts for product lines and engineering projects. I myself work with engineers and business development groups on a major contract with a large U.S. manufacturer, providing key financial information for a multi-year development project. And I share in this kind of frustration, as my requests for inputs and supporting information often fall on deaf years.

I have two key tips for driving a culture in which the finance organization has real influence.