As a CEO or business leader, you count on your accounting team for key financial insights to help guide your decisions. But sometimes, it feels like there’s a disconnect—almost like you’re speaking different languages—making it harder to bridge the gap between the numbers and your strategy. This disconnect doesn’t just make communication harder—it also reduces the impact these experts can have on your business.
For CEOs, developing a robust relationship with your accounting team (whether internal or outsourced) doesn’t just make financial sense—it’s a strategic imperative. Research reveals that companies with strong cross-functional collaboration are five times more likely to be high-performing. Here are some other reasons why prioritizing this relationship can transform the way you lead and enhance your company’s overall performance.
Clearer Communication Leads to Smarter Decisions
One of the most common frustrations CEOs face when dealing with accounting professionals is the technical jargon that often comes along with them. Accounting terms like “accrual basis,” “amortization,” or “EBITDA” can feel like a foreign language. While these terms are essential within the profession, their complexity not only leads to frustration, but also obscures their importance to the strategic decisions that need to be made. A strong relationship improves these outcomes.
At Agile Planners, we see this all the time. A client emails us with a question about a line item on a financial statement, and our response, while accurate, may come across as too technical. But when we discuss it directly, we can tailor the explanation to their specific concerns, making it easier to understand. That’s why we always prefer a conversation—it allows us to clarify information in a way that’s useful and relevant, helping clients feel more confident in their financial decisions.
Building a strong relationship with your accounting team simply allows for better communication. Accountants feel encouraged to translate complex financial concepts into clear, actionable insights, and this clarity allows CEOs to:
- Quickly grasp the financial health of the business.
- Identify trends or potential risks before they escalate.
- Make data-driven decisions with confidence.
Reducing Miscommunication and Avoiding Costly Errors
Poor communication is more than frustrating; it’s expensive. According to the Holmes Report, companies lose an average of $62.4 million annually due to miscommunication. In finance, misunderstandings can lead to missed deadlines, non-compliance fees and penalties, or even financial inaccuracies that damage your company’s reputation and bottom line.
With an open and respectful relationship with your accounting team though, CEOs greatly reduce these risks. Regular check-ins, clear expectations, and active listening create an environment where:
- Questions are answered promptly and accurately.
- Errors are caught and corrected early.
- Financial processes are aligned with strategic objectives.
Building Trust to Uncover Hidden Opportunities
Accountants do more than crunch numbers; they analyze financial data to uncover opportunities for growth, cost savings, and operational efficiency. However, these insights often remain untapped when the relationship between CEOs and their accounting teams is distant or strained. Trust is the true foundation of collaboration, which leads to:
- Proactively sharing observations and ideas for improvement.
- Highlighting inefficiencies or areas of concern without fear of pushback.
- Collaborating across departments to align financial strategies with organizational goals.
Practical Steps to Strengthen the CEO-Accounting Team Relationship
Building a productive relationship with your accounting team doesn’t happen overnight, but small, intentional actions can lead to significant results. Here are five practical steps:
- Prioritize Regular Communication. Schedule consistent meetings to discuss financial performance, address questions, and align on priorities. These touchpoints help establish mutual understanding.
- Ask for Simplicity. Encourage your accounting team to present financial data in simple, actionable terms. Visual aids like dashboards, charts, or summaries can make complex information more digestible.
- Invest in Training and Tools. For internal teams, equip them with the latest accounting software and professional development opportunities. Technology like AI-powered financial tools can streamline processes and free up accountants to focus on strategic initiatives.
- Recognize Their Contributions. Acknowledge your accounting team’s efforts and celebrate their successes. Recognition boosts morale and reinforces their role as a vital part of your leadership ecosystem.
- Seek Outsourced Expertise When Needed. If your current team lacks a certain level of expertise or bandwidth, consider working with an outsourced CFO or accounting partner, like Agile Planners. Outsourced professionals bring specialized skills and a fresh perspective to complement your internal team.
The Bigger Picture: Driving Business Success Together
In the words of Peter Drucker, “The most important thing in communication is hearing what isn’t said.” When you invest in understanding and empowering your accounting team, you’re not just improving communication or reducing “accountant talk”—you’re unlocking the potential for transformative business leadership—one that builds cultures of collaboration and trust, driving better decision-making and operational efficiency across the board.
At Agile Planners, we provide strategic guidance and outsourced CFO services to companies of all sizes. We can help provide the strategy your organization needs for the growth you want. We understand that no two organizations are the same. And with our experience and financial knowledge, we can help develop the right strategic plan for your business to grow and reach its goals. Simply, we’ll be your trusted partner, so you can focus on running your organization. Contact us today to learn more about how we can help.
