Finance people

Finance people think differently. That’s the first point I make when I present to vendors and end users. When you build a business case, think like a finance person and you’ll be successful. Don’t plead your case, make it. Don’t use the power of persuasion, rely on the numbers. We rarely make cold financial buying decisions in our own lives, so thinking like a finance person is not always natural. Finance people are a methodical bunch, and they analyze the factors that drive the results before they turn to the results themselves. They’ll look at the benefits and how you calculated them before the ROI and Payback. And don’t think a high ROI and short Payback is a winner for them. Financial decision makers tend to minimize the downside before they maximize return, and then only within their tolerance for risk. A moderate return with low risk is much better than a high return with significant risk. That’s why you probably can’t picture your own CFO sitting at a blackjack table in Las Vegas. Unfortunately technology projects are notorious for fictional benefits, higher than expected deployment costs, and lack of quantifiable results. If your predecessors have engaged in this bad behavior, presenting both an expected case and a worst case scenario can go a long way towards a friendly relationship with finance. Above all, spend some time understanding the methodical way your financial folks approach decisions. You’ll find they don’t think like everyone else.