Drawing on insights from leading marketers and analysts, the IPA report ‘Building Bridges with Finance’ outlines how marketing teams should work more closely with finance departments in order to improve the overall marketing effectiveness and decision-making within their organisation.
The report provides evidence and practical advice for businesses to promote closer working between marketing and finance by encouraging use of a common language and shared financial literacy, clearer demonstrations of how marketing adds value to organisations and why marketing metrics matter, and support for an evidence-based mindset in decision-making.
Written by IPA consultant Fran Cassidy, 'Building Bridges with Finance' draws on input from 26 organisations and 40 respondents (including Tesco, Pepsico and London Business School), and recognises the recent widening in the role of the finance function from primarily reporting performance towards driving results, including through greater marketing effectiveness.