If you ask people - what does a product manager do? What does a sales rep do? Most will provide relatively uniform answers. Another question that may be floating around is “What is BizOps and what does a professional working in this position do?”
We looked at over 50 job descriptions for open positions with BizOps in the job title across startups and tech giants. The open roles ranged from “Head of BizOps,” “Senior Analyst, Product & Engineering BizOps” to “Senior Finance & BizOps Analyst.” While the job titles did not make it easier to understand, there were some common threads to be found.
What Is BizOps?
While an internal strategist may be more familiar among companies, BizOps is a new development that is becoming a key player among teams everywhere. The business operations team is there to help make important decisions and provide continuous improvement to the company. These business professionals are able to access the data for all business units, helping with strategic planning and identifying any operational gaps.
What Is Internal Strategy?
Now when it comes to internal strategy, many find it hard to give a precise definition. Why? It's because this position varies in responsibility and duties from company to company. The one in charge of internal strategy focuses on providing strategic support to improve overall business strategy. This position also takes an all-encompassing approach when it comes to strategic decision making and ensures that all teams across an organization are aligned on future goals.
What Is the Difference Between BizOps vs. Internal Strategy?
Strategic decision making is at the heart of business growth and development. But who is the one in charge of designing a roadmap for specific business outcomes? Often, this duty falls on your internal strategist or analyst. However, in recent years, a new job role has gained popularity as its sole purpose is to help the company make better decisions, collaborate among the different teams, and ultimately achieve operational excellence. This buzzing job position is called business operations.
Making sure you have the right team analysing data and gaining actionable insights is essential if you want to scale your company and improve your business processes as a whole. In this section, we are going to be reviewing some of the main differences between BizOps and internal strategy.
84% of the roles were a mix of strategy, operations, and finance. As a strong generalist, the BizOps professional acts as a business partner with the different teams and departments to ask and answer the tough questions. Which country to enter next and how? Which segment to target next? Which product feature do we prioritise?
Most job descriptions sounded very similar to internal strategy functions. In fact, looking at the first few lines of these two job descriptions - one for Head of Strategy, and another for Head of BizOps - they were more alike than imagined.
- Head of Strategy - Drive strategic thinking across the operations and finance teams and connect group-level goals to company-wide KPIs. Leverage a wealth of disparate data sources to drive strategic decision making and improve business functions overall.
- Head of BizOps - Leverage data and insight to drive decision making and acceleration of growth reporting, metrics and KPI. Cross-functional project management - from concept to execution, our ideal candidate is able to manage cross-functional projects, ensuring deadlines are met, and outcomes are maximized/in-line with strategic objectives
Data and metrics driven
- 100% of the job descriptions mentioned setting and measuring metrics (OKRs & KPIs).
- 58% of senior roles included initiatives to “centralize data” or “standardize and distribute metrics.”
- 92% of junior roles specifically stated SQL or data querying. They also prefered experiences in advanced modeling, data analytics and visualization tools.
Banking, Consulting, or Operations experience
98% (all but one) of roles required work experience in banking or consulting. The requirements section included phrases like, “minimum of X years of relevant experience in the field of finance or consulting” or “great opportunity for those with experience in consulting, banking, private equity, corporate strategy, or similar roles”
So... what do you think? Is BizOps just another name for internal strategy?
Whether you’re in BizOps or the internal strategic unit, you need financial and operational metrics to take strategic decisions. Modern xP&A (collaborative planning & analysis) platforms drive this agility and give you more time to gain strategic insights for business growth.
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Looking to modernize your financial planning and forecasting processes? If you are already in one of these positions, you may be searching for a FP&A software that can help streamline your data and gain actionable insights. As a BizOps professional, it is your responsibility to be able to identify operational gaps, learn from business analytics, and use this information to drive strategic decision making across all departments.
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