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Finance and accounting teams don’t always speak the same language. Here’s how to change that.
Finance looks forward. Accounting looks back. That fundamental difference in focus is exactly why collaboration between these two teams can be so difficult to get right, and why getting it right matters so much.
When your finance and accounting teams aren’t aligned, the impact shows up everywhere: version control issues, slower closes, gaps in reporting, and a culture where people work in silos instead of toward shared goals. For CFOs, closing that gap isn’t optional. It’s one of the most important levers you have for driving peak financial performance.
The good news? Collaboration is a skill you can build.
We teamed up with Homiyar Wykes (Group Financial Controller at ED&F Man) to explore what actually works when finance and accounting leaders commit to building a true team-sport culture. The result is a practical, experience-backed guide with eight concrete tips you can start applying today.
Here are eight tips for building a true team-sport culture between your finance and accounting teams.
1. Create shared goals and KPIs.
When both teams are accountable to the same metrics, collaboration follows naturally. Host a joint session, find areas of crossover like close dates and reporting cycles, and build from there.
2. Embrace technology.
Spreadsheets and email are built for individual work, not collaboration. Cloud-based financial performance management platforms give both teams a single source of truth, a shared vocabulary, and fewer version control headaches.
3. Invest in training.
Cross-functional training sharpens skills and shows employees you value them. Mentorship programs, skillshare sessions, and team bonding events are all low-lift ways to start.
4. Build cross-functional collaboration.
No team functions in a vacuum. When finance and accounting tackle challenges together, both teams get faster, more empathetic, and more effective.
5. Develop soft skills.
Hard skills get the work done. But communication, teamwork, and interpersonal skills are what allow two departments to actually function as one. Discussion forums, office hours, and lunch-and-learns all help.
6. Focus on data.
Automation removes the manual burden from both teams, reduces errors, and speeds up your close. One Planful customer cut their close from 14 days to 10, and used the time saved for deeper analysis.
7. Be open and transparent.
Remote and hybrid work make silos easy to fall into. Look for tools that let your teams collaborate directly in reports and documents, and integrate with the communication channels they already use.
8. Share your successes.
A win for one is a win for both. Make it a habit to celebrate achievements across departments, even small ones. It reinforces the culture you’re trying to build.
If you’re ready to build a more collaborative, high-performing Office of the CFO, this ebook is a practical starting point.
Download 8 Tips to Increase Collaboration Between Finance and Accounting Teams
