Understanding the true meaning of "business partnering" is essential when applying for a job or setting up a job specification, as it is often an overused and misunderstood term. At Sheridan Maine, we emphasise the need for clarity in how this term is defined and applied, particularly in finance roles. Business partnering goes beyond simply offering support; it involves forming a strategic relationship between finance professionals and other departments within an organisation. This collaboration ensures that financial insights are effectively integrated into decision-making processes across the business. Whether it's working with non-finance teams to guide budgeting decisions or providing data-driven insights to support commercial strategies, business partnering plays a critical role in aligning financial objectives with broader business goals.
In finance-related positions, business partnering requires a deep understanding of both commercial and statutory accounting practices. A strong business partner not only assists non-finance teams in understanding the financial implications of their decisions but also helps bridge the gap between operational goals and financial accountability. This involves translating complex financial data into actionable insights that other departments can utilise to drive growth, improve efficiency, and mitigate risk. For example, finance professionals may work closely with marketing or operations teams to ensure that budgets are adhered to while still meeting strategic objectives, or they may provide forecasting that helps guide long-term planning.
At Sheridan Maine, we strive to drill down into what business partnering truly means for each specific role and organisation. It’s important to tailor the job specification and interview discussions to reflect whether the business partner role leans more towards commercial finance—where the focus is on growth and profitability—or statutory accounting, which involves compliance and regulatory responsibilities. Understanding this distinction helps both candidates and employers align their expectations, ensuring that the role of business partner is clearly defined and understood from the start. This shared understanding is key to fostering successful partnerships across departments and achieving meaningful, data-driven results.
