Unlocking the Strategic Potential of Finance

Scott Buxton is a seasoned finance executive with over two decades of experience at leading Enterprise B2B software companies. Scott’s experience spans roles from joining Datadog at an early stage through IPO as well as GitHub and HighRadius. He has led successful venture rounds, international expansion, compliance, and strategic financial planning. Scott began his career at Deloitte in various service lines where he worked on the Yelp and Twitter IPOs.
Q: How can finance professionals transform the perception of “gatekeepers” and become strategic business partners to improve company growth and agility?
First and foremost, building relationships is key. Take the time to connect with colleagues on a personal level, fostering trust, respect, and accountability in your working relationships. Once you've established rapport, delve deeper. Ask questions to understand their specific goals, timelines, and challenges. Armed with this insight, offer tailored support, whether through data analysis, financial problem-solving, or strategic guidance, to empower them in their decision-making endeavors. The goal is to cultivate a culture where leveraging financial expertise enhances agility rather than hinders it, driving the organization toward its objectives.
Q: How do you foster transparency and collaboration across departments, especially concerning sensitive financial matters, to ensure effective communication and decision-making?
Build trust and transparency through open, empathetic communication. By being forthright about financial matters and encouraging dialogue among team members, you create an environment conducive to proactive problem-solving. Overcommunication – often through multiple channels - is another key to providing a safe environment and ensuring everyone is on the same page.
Q: When mistakes occur within the finance team, how do you address accountability while maintaining trust and integrity among team members?
Accountability begins with leadership. Acknowledging and taking ownership of mistakes openly is an essential part of maintaining accountability throughout the team. While errors are inevitable, responses should always be solutions-focused and forward-looking. In unfortunate (and infrequent) cases of unethical behavior or fraud, you must take swift and decisive action, including termination if warranted.
Q: How do you navigate the delicate balance between being a strategic business partner and upholding financial discipline within the company?
Striking this balance requires a shift away from the traditional perception of finance as mere gatekeepers. Instead of defaulting to a knee-jerk "no," strive to be a catalyst for creative problem-solving. By understanding the needs of your partners and fostering collaboration, you’ll be well-positioned to provide data-driven insights and innovative solutions while upholding financial discipline.