Engage with Finance – Your Guide to Collaborating with us!

Cyclical tasks

During these cycles, our availability is likely to be limited.

• Budget & Forecast Management: Oversight and management of company budgets to ensure financial efficiency and effectiveness. Timelines for FPA: here.
• Month- End Closing: Delivery of financial statements and relevant financial reporting

Our 2024 cyclical deliverables can be viewed here.

*Timelines can shift – please check with us for specifics.

Other roles we play:

• Financial Reporting and Analysis: Providing accurate and timely financial reports to aid in decision-making. Some recent projects that we have worked on are:
  • Restructure of cost-centers to give visibility to leadership for decision-making
  • Customer Acquisition Cost (CAC) Model (and other financial metrics) Development and ongoing updates
  • New monetization opportunity analysis / forecasting (API, POS, etc.)
  • Credit Card processing fee subsidy calculation and cost / benefit analysis
  • Closed Business (CB) Conversion Analysis
• Expense Control: Managing and monitoring expenditures, including staff costs to stay within budget. Each LT member can spend up to $25K USD annually outside of approved budget spends on any non-staff costs without Finance approval.
• Procure to Pay (P2P): Provide support for contract negotiations/ procurement, submission of purchase requisitions (see Procurement policy) and submission of invoices to Booking Accounts Payable team
• Compliance and Controls: Ensuring the company meets regulatory requirements and maintains financial integrity.
  • Ensure Booking Tax and Technical Accountings are engaged for any new initiatives, reporting changes, new cost structures etc.

• Formal Requests: Please reach out via email to:

  • FP&A: Business changes that deviate away from the budget on revenue/cost , New monetization initiatives for business casing, Headcount planning
  • Finance and accounting: New monetization initiatives that can have regulatory reporting or taxation impacts, supplier payments, supplier contract negotiations

• Lead Time: Provide adequate lead time for requests—two weeks is ideal for non-urgent reports or analysis.

• Specifics Matter: Be as specific as possible about your needs and goals/purpose as well as your timelines.

• Regular Check-Ins
  • We host monthly finance meetings. These are primarily for the Finance team; however, if you’d like to join and address a large topic, please reach out to Arielle to get a spot on our schedule.
  • We also host quarterly functional reviews as part of our wider team, Strategy and Insights. Ask us to join these to stay informed on our progress!
  • New Product launches etc.:
    • FPA is the best team to collaborate with to understand full PnL impact, budget/forecast alignment, financial feasibility and suggestions on key metrics to track! Involve us early – during the product development phase.
      • Share a detailed business case that includes market analysis, competitive analysis, sample revenue projections, costs analysis and risk assessment. We can validate the financial assumptions and projections, provide scenario analysis or work with you to build these.
      • Keep us involved in regular cross-functional meetings so that we can be value-adds throughout the process.
  • Accounting and Financial Operations must be aligned with respect to any new monetization initiatives to ensure that your revenue is captured accurately in our PnL. If we cannot record it, we cannot report it. We can work with the Product team who manages the billing infrastructure to record revenue.

• Some systems that we use

• Resource Center: Access our finance guides, templates, and policies here.

• Expense Queries:
  • Direct all Procurement questions (contract negotiations, purchase requisitions and supplier invoices to be submitted to Accounts Payable) to accountspayable@fareharbor.com. You can also refer to this resource for invoice process and submission or this resource for our Procurement policy.
  • Direct all personal expenses, credit card expenses recorded in Concur queries via this ticket

• Feedback: We welcome your feedback. Please share your thoughts via FP&A or Finance and accounting and accounting to help us improve our way of working!
• Continuous Engagement: We are committed to improving our interactions and support. Participate in our quarterly functional review sessions to discuss potential improvements.

Let’s work together to drive FareHarbor’s continued success!