Jump Back
In my last piece, I explored the first of the three verticals of accounting – Finance Technologist (see here>>>). Now, let’s shift our focus to the next crucial vertical – Strategic Business Partner.
What is it?
This is the vertical that defines the accountants whose roles have shifted from “traditional accounting” to “Business Partners’ and “Advisors,” encompassing roles ranging from newly qualified accountants to CFOs, treasury, tax, and beyond. What we do know is that there is still high demand for talent in these key finance roles, and we are seeing this across all our clients.
Why is it important?
The implementation of technology has largely enabled the shift to Strategic Business Partner. This includes Cloud-based accounting solutions, Robotic Process Automation, data analytics, and machine learning, which can handle repetitive, high-volume tasks that previously consumed significant amounts of time for accountants. This frees up time for finance professionals to expand their roles into advisory and business partnerships, creating value-added opportunities for the business.
How have their roles evolved?
The role of accountants within the Strategic Business Partner vertical has evolved in several key ways:
Depth of Responsibilities: The fundamental roles of record-keeping, reporting, and compliance remain the same. However, technology now automates core finance tasks, enabling finance professionals to expand their roles into advisory and business partnerships.
Strategic Involvement: Accountants are moving from the back office to the front line, actively participating in key business decisions.
Commercial Acumen: At all levels of finance, there is an expectation to understand customer segments, market dynamics, and the core business model. Finance professionals need to go beyond simply reporting numbers and be able to understand and communicate their impact on business performance to non-finance leaders.
Future-Focused Analysis: More time is now spent on predictive analysis, insights, and strategic business advice rather than just historical reporting.
Regulatory and Compliance Expansion: Accountants must now consider ESG/CSRD reporting, data security, and governance. As AI adoption grows, ensuring data security and reliable outputs is critical.
Key Considerations
We shouldn’t underestimate the importance of developing soft skills, such as communication, negotiation, influencing, and active listening, in the context of our roles evolving to become strategic partners to the business. More notably, we need to be mindful of upskilling our teams at all levels in finance to effectively partner with other areas of the business and drive successful outcomes. Previously, the FP&A and commercial finance teams would have led with business partnering. However, all finance professionals must now embrace this approach.
Catherine Drysdale, FCA & member of Technology Committee, Chartered Accountants Ireland
Other Articles in this Series
Finance Technologist >>>>
Subject Matter Expert >>>>