2 answers
Tess
Student
West Valley City, Utah
1
Question
Asked
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What is the hardest thing to deal with financial planning with your company as a financial expert? #Spring25
I am planning on pursuing a finance degree and I am just wondering what the work experience is really like for the career.
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2 answers
Verne Snow
Pricing Director
3
Answers
Piedmont, Piedmont, Italy
Updated
Verne’s Answer
Great question. One of the hardest things to deal with in financial planning for a company—especially from the perspective of a financial expert—is uncertainty. That uncertainty comes in a few different flavors:
1. Forecasting Revenue Accurately
Even with the best data and models, predicting future revenue is tough—especially for startups or companies in volatile industries. One big client could churn unexpectedly, or a product launch could flop or soar.
2. Pricing Management
Pricing is a very powerful tool. If you set the wrong price (Lower) it is hard to recover and force increases. (Higher) you might lose the opportunity to competition or not win as much share of the market.
3. Changing Market Conditions
Inflation, interest rates, supply chain issues, or global crises (hello, Unplanned TARIFFS, COVID) can throw off even the most detailed plans. These are things outside of your control, but you still have to plan as if you can control them.
4. Stakeholder Alignment
Getting execs, investors, and department heads aligned on budget priorities can be tricky. Everyone wants resources, and not everyone sees ROI the same way.
5. Data Quality & Integration
Many companies have data silos or outdated systems. If the data is garbage, even the most elegant financial model is useless. Cleaning, reconciling, and integrating data from multiple sources is a whole job in itself.
6. Scenario Planning
You can't just plan for one future. You have to prepare for multiple scenarios—best case, worst case, and everything in between. This requires building flexible models and constantly updating assumptions.
1. Forecasting Revenue Accurately
Even with the best data and models, predicting future revenue is tough—especially for startups or companies in volatile industries. One big client could churn unexpectedly, or a product launch could flop or soar.
2. Pricing Management
Pricing is a very powerful tool. If you set the wrong price (Lower) it is hard to recover and force increases. (Higher) you might lose the opportunity to competition or not win as much share of the market.
3. Changing Market Conditions
Inflation, interest rates, supply chain issues, or global crises (hello, Unplanned TARIFFS, COVID) can throw off even the most detailed plans. These are things outside of your control, but you still have to plan as if you can control them.
4. Stakeholder Alignment
Getting execs, investors, and department heads aligned on budget priorities can be tricky. Everyone wants resources, and not everyone sees ROI the same way.
5. Data Quality & Integration
Many companies have data silos or outdated systems. If the data is garbage, even the most elegant financial model is useless. Cleaning, reconciling, and integrating data from multiple sources is a whole job in itself.
6. Scenario Planning
You can't just plan for one future. You have to prepare for multiple scenarios—best case, worst case, and everything in between. This requires building flexible models and constantly updating assumptions.
Anthony Kofi Hene-Amoah
Translation, Editing, Project Management, Research and Evangelism
180
Answers
Jema, Brong Ahafo Region
Updated
Anthony’s Answer
Please, note the following, concerning financial management:-
1. Requisite knowledge in financial management.
2. The need for Faithfulness, Integrity and Accountability at all times. That is, there should be no manner of bribery and corruption at any time.
3. Good communication skills and general human relationships.
Best regards.
1. Requisite knowledge in financial management.
2. The need for Faithfulness, Integrity and Accountability at all times. That is, there should be no manner of bribery and corruption at any time.
3. Good communication skills and general human relationships.
Best regards.