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How do you prove your agribusiness finance function is valuable?

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Agribusiness finance is a crucial function that supports the profitability, sustainability, and competitiveness of the agricultural sector. However, many agribusinesses struggle to demonstrate the value of their finance function to their stakeholders, such as owners, managers, customers, suppliers, and lenders. How can you prove that your agribusiness finance function is valuable and not just a cost center? Here are some tips to help you showcase the impact of your finance function on your agribusiness performance and strategy.

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罗杰成 Roger Loh

?? 特许会计师 | ?? 业务评估 | ?? 并购咨询 | ? 与初创企业和成熟企业合作

1 Align with business goals

The first step to prove your agribusiness finance function is valuable is to align it with your business goals and vision. Your finance function should not operate in isolation, but rather support and enable your agribusiness to achieve its objectives and priorities. To do this, you need to understand your agribusiness strategy, identify the key drivers of value and risk, and align your finance activities and resources accordingly. For example, if your agribusiness goal is to expand into new markets, your finance function should provide relevant market analysis, financial modeling, and risk management to facilitate the decision making and execution.

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2 Deliver insights and solutions

The second step to prove your agribusiness finance function is valuable is to deliver insights and solutions that help your agribusiness improve its performance and efficiency. Your finance function should not only provide accurate and timely financial information, but also analyze and interpret the data to generate meaningful insights and recommendations. For example, you can use your finance function to identify and monitor the key performance indicators (KPIs) of your agribusiness, such as profitability, liquidity, solvency, and productivity. You can also use your finance function to provide solutions to the challenges and opportunities that your agribusiness faces, such as cost reduction, revenue enhancement, cash flow management, and investment appraisal.

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3 Communicate effectively

The third step to prove your agribusiness finance function is valuable is to communicate effectively with your stakeholders. Your finance function should not only report the financial results and performance of your agribusiness, but also communicate the value and impact of your finance activities and initiatives. To do this, you need to tailor your communication style and format to suit the needs and preferences of your audience, such as using visual aids, charts, graphs, and dashboards. You also need to use clear and concise language, avoid jargon and technical terms, and focus on the key messages and takeaways. For example, you can use your finance function to communicate how your agribusiness is achieving its goals, how your finance function is contributing to the success, and what are the areas for improvement and action.

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罗杰成 Roger Loh

?? 特许会计师 | ?? 业务评估 | ?? 并购咨询 | ? 与初创企业和成熟企业合作
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Example: Define and track KPIs aligned with business objectives to assess the business's performance. For example, DSO, Budget variance, Margin, and Growth rate can be some measurable metrics.

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4 Innovate and adapt

The fourth step to prove your agribusiness finance function is valuable is to innovate and adapt to the changing environment and demands of the agricultural sector. Your finance function should not only comply with the regulatory and accounting standards, but also leverage the technological and digital tools and trends to enhance your finance capabilities and processes. To do this, you need to embrace a culture of innovation and learning, explore and adopt the best practices and solutions, and continuously evaluate and improve your finance performance and outcomes. For example, you can use your finance function to automate and streamline your finance tasks and workflows, such as using cloud-based software, artificial intelligence, and blockchain. You can also use your finance function to create and capture value from the emerging opportunities and challenges, such as using big data, analytics, and sustainability.

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罗杰成 Roger Loh

?? 特许会计师 | ?? 业务评估 | ?? 并购咨询 | ? 与初创企业和成熟企业合作
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Example: - Identify new revenue streams or optimise existing ones (from both internal and external information) - Use predictive models to forecast revenues, market trends, and expenditures.

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5 Collaborate and partner

The fifth step to prove your agribusiness finance function is valuable is to collaborate and partner with your internal and external stakeholders. Your finance function should not only support and serve your agribusiness, but also engage and influence your agribusiness partners and networks. To do this, you need to build and maintain trust and credibility, foster and nurture relationships, and share and exchange knowledge and expertise. For example, you can use your finance function to collaborate and partner with your agribusiness managers and employees, such as providing coaching, training, and feedback. You can also use your finance function to collaborate and partner with your agribusiness customers, suppliers, and lenders, such as providing value-added services, solutions, and advice.

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6 Demonstrate impact and value

The sixth step to prove your agribusiness finance function is valuable is to demonstrate the impact and value of your finance function on your agribusiness performance and strategy. Your finance function should not only measure and report the financial results and performance of your agribusiness, but also quantify and articulate the value and benefits of your finance activities and initiatives. To do this, you need to define and track the metrics and indicators that reflect the value and impact of your finance function, such as return on investment, cost savings, revenue growth, customer satisfaction, and risk reduction. You also need to communicate and showcase the evidence and stories that illustrate the value and impact of your finance function, such as case studies, testimonials, and awards.

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罗杰成 Roger Loh

?? 特许会计师 | ?? 业务评估 | ?? 并购咨询 | ? 与初创企业和成熟企业合作
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Example: - Use clustering algorithms to segment customers (on profitability, risk, and lifetime value) - Customer segmentation on pricing strategies

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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罗杰成 Roger Loh

?? 特许会计师 | ?? 业务评估 | ?? 并购咨询 | ? 与初创企业和成熟企业合作
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- Keep abreast of changes in financial regulations to ensure compliance and avoid potential fines or legal issues. - Data is key to organisation. Ensure appropriate cybersecurity measures are in place to protect both financial and non-financial data.

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How do you prove your agribusiness finance function is valuable?

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1 Align with business goals

2 Deliver insights and solutions

3 Communicate effectively

4 Innovate and adapt

5 Collaborate and partner

6 Demonstrate impact and value

7 Here’s what else to consider

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