Name: Simon Bittlestone
Title: Managing Director
Role responsibilities: Ultimately responsible for the management of the business, achieving revenue growth, product development, profitability and cash flow and achieving our strategic goals.
First job: I joined the Xchanging graduate scheme in 2005 and spent 6 years there in various positions. Xchanging (now part of CSC) was a business process outsourcing technology company, which was started in 1999, floated on the LSE (entering the FTSE 250) in 2007 and was bought by CSC in 2015.
Pet hate: Entitlement
Person who inspires you and why: Sir Martin Sorrell - because while talent is important (and I don't doubt he is a bright guy) drive, determination and focus are generally what leads to success.
How have you used the Global Management Accounting Principles? At Metapraxis we build financial analytics applications for large businesses in our analysis product Empower. What we really do though, is help the CFO to drive business performance through the provision of clear, visual insight across their organisations. Central to this is what we call the business performance cycle. Results - measurement - analysis - dialogue - commitment - action - results (and the circle is completed). Our solutions help people in businesses do this well and do this quickly which is what improves performance. The Principles:
are so important because for finance to effectively influence business performance in this way, they must apply those principles in the appropriate parts of the business performance cycle. So the principles are key to our success and built into our method as a business.
How did they help you do something better? It is difficult to pinpoint one thing because ultimately they help us provide better solutions for all of our clients. I would say that as a core principle "impact on value is analysed" is something I carry with me personally in everything I do. So often in business people do things because they have always been done or because they think that is what a stakeholder wants. What matters is that we analyse what to do based on the value it will provide- again this is a very central principle to our solutions as it is to how we run our own business.
Top tip for adoption: Communication is key. Finance has a great track record in the numbers and are not bad at analysis, but impact is only achieved if that analysis is communicated in a way that people in the business really understand and can act on. Communication is a skill that is so often overlooked by the finance team.