How to Build a Finance Team That Actually Adds Value (Not Just Reports Numbers)
Spoiler: Finance Isn’t Just About Counting the Pennies Anymore
Once upon a time, a finance team’s job was simple:
- Keep the books tidy.
- Produce accurate reports.
- Make sure the numbers add up.
Fast forward to 2025, and finance is now a strategic function that should be driving business growth.
But here’s the problem:
- Too many finance teams are still stuck in a reporting role instead of influencing commercial decisions.
- Finance leaders struggle to shift the team from ‘reactive’ to ‘strategic.’
- Business leaders only involve finance at the end of the process, not the beginning.
A great finance team isn’t just a back-office function—it’s a commercial driver.
Here’s how to build a finance team that actually adds value—so you’re influencing decisions, not just reporting on them.
1. Hire Commercially-Minded Finance Professionals
The biggest mistake businesses make? Hiring technically strong finance professionals who lack commercial awareness.
Bad hire:
- Great with numbers, bad at influencing decisions.
- Knows Excel inside-out but avoids talking to non-finance teams.
- Can produce reports—but can’t explain what they mean.
Great hire:
- Understands the numbers AND how they impact business strategy.
- Communicates financial insights clearly to non-finance teams.
- Thinks beyond reporting—asks ‘what does this mean for the business?’
How to fix it:
- Look beyond technical skills—test commercial thinking. Ask, “If revenue drops 15% next quarter, what’s your first move?”
- Prioritise problem-solving over box-ticking. Can they challenge assumptions, not just crunch numbers?
- Ensure they can simplify financial data for leadership teams. If they can’t, they won’t influence decisions.
Rule of thumb: If they can’t connect finance to business growth, they’re not the right hire.
2. Make Finance a Business Partner, Not Just a Reporting Function
Finance teams that just ‘report the numbers’ are missing the bigger picture.
What a weak finance team does:
- Sends reports without insights.
- Waits for problems instead of preventing them.
- Sees themselves as number-crunchers, not decision-makers.
What a strong finance team does:
- Provides strategic recommendations based on data.
- Partners with sales, operations, and marketing to influence decisions.
- Helps leadership teams plan for the future—not just report on the past.
How to fix it:
- Get finance involved in commercial conversations earlier. Don’t just call them in when there’s a budget issue.
- Encourage finance leaders to challenge decisions. The best finance professionals push back when numbers don’t make sense.
- Use finance as a driver for growth, not just a cost-control function.
Rule of thumb: If finance isn’t shaping decisions, it’s not operating at full potential.
3. Ditch the ‘Just Do Your Job’ Mentality
Great finance teams don’t just follow orders—they think ahead.
What holds finance teams back:
- A ‘stay in your lane’ culture.
- A fear of speaking up in leadership meetings.
- A focus on tasks instead of business impact.
What moves finance teams forward:
- A culture of curiosity—asking ‘how can we do this better?’
- Encouragement to challenge commercial teams.
- An open door to leadership—so finance has a voice at the table.
How to fix it:
- Make finance a proactive function. If they’re just reacting to issues, they’re not driving strategy.
- Encourage challenging discussions. If the numbers don’t add up, finance should be the first to say it.
- Celebrate finance’s role in business growth. Too many teams only get noticed when something goes wrong.
Rule of thumb: If finance isn’t asking ‘why’ as much as ‘how,’ you need a culture shift.
4. Invest in Finance Technology (And Stop Relying on Spreadsheets for Everything)
If your finance team is still manually updating reports in Excel, you’re behind.
What slows finance teams down:
- Relying on outdated reporting processes.
- Manually tracking data that should be automated.
- Using finance as a ‘data entry’ function instead of a strategic one.
What modern finance teams do:
- Automate the basics so they can focus on analysis.
- Use real-time data to make decisions faster.
- Implement finance tools that improve accuracy and efficiency.
How to fix it:
- Invest in automation. If your team is spending hours on manual data entry, you’re wasting time.
- Upgrade financial reporting tools. If leadership is making decisions on outdated reports, it’s a risk.
- Train finance teams on new tech. Modern finance isn’t just about accounting—it’s about analytics.
Rule of thumb: If finance is still manually compiling data instead of analysing it, you need better systems.
5. Build a Finance Team That’s Designed for Growth
Too many finance teams are built for ‘maintaining the business’ instead of ‘growing the business.’
Common mistakes:
- Hiring based on what the business needed 3 years ago.
- Not evolving finance roles as the business scales.
- Underestimating the need for strong commercial finance leadership.
What works better:
- Hiring ahead of growth. If you wait until you’re in trouble, you’re already too late.
- Giving finance a say in business strategy. They’re not just there to balance the books.
- Building leadership within the finance function. Tomorrow’s CFOs need exposure to decision-making today.
How to fix it:
- Future-proof your finance team. If you’re growing, hire finance talent that can scale with you.
- Look at finance as a value driver, not just a control function.
- Invest in leadership development within finance. Your next CFO should already be in your business.
Rule of thumb: If your finance team is built for today but not for tomorrow, you’re already behind.
Final Thought: Make Finance a Strategic Powerhouse, Not Just a Cost Centre
The best finance teams aren’t just reactive—they’re business drivers.
✅ Hire commercially sharp finance professionals—not just number crunchers.
✅ Involve finance in strategic decisions—not just reporting.
✅ Give finance the tools, autonomy, and voice it needs to add value.
✅ Build a finance team that’s set up for growth—not just survival.
Want to build a finance team that actually drives business success?
We Do Benchmark ensures your salaries attract the right finance talent.
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