Finance team members can spend a lot of time on solo tasks.

However, teamwork is important for success, both within your team and across departments.

In order to create an efficient and cohesive finance team, it is important for members to be able to work collaboratively. This means having a shared understanding of the team’s goals and being able to communicate effectively with one another.

Here are 5 ways finance teams can build a collaborative environment:

1. Build relationships

Spend time talking and getting to know your teammates. This helps you to build trust and create a cohesive team environment.

Colleagues need to be able to trust each other. If they can’t, working collaboratively will be difficult.

Strive to build an ethos in which staff treat each other as family. Look for opportunities to develop relationships with each other during different tasks.

2. Share knowledge

The more everyone knows, the better. Encourage colleagues to share knowledge and expertise.

If people hoard information, departments can’t work together as effectively as possible to complete tasks.

This should be a collaborative process, so everyone should have a chance to discuss and contribute.

Team meetings and group chats are good ways to achieve this.

3. Be open to feedback

Make it easy for everyone to give feedback and share their ideas.

After all, different people have different skillsets, and some will be more experienced in certain areas than others.

When you acknowledge what everyone adds, the team is more likely to work well together.

Feedback makes people have a sense of inclusiveness. This way, everyone is carried along throughout the task, helping to create a collaborative environment.

4. Ask for help

No one knows everything. Ask your colleagues for help when you need it. This allows you to pool knowledge and find the best way to complete a task.

For example, if one person is more experienced in a certain area than you are, ask them for advice. Then use the information they give you to make informed decisions.

5. Set an example

Set the tone in your team. Make sure everyone knows the importance of collaboration.

The tone you set will be contagious so make it one that promotes collaborative productivity and excellence.

Be consistent in demonstrating the behaviours you want to see. This will encourage other people on the team to do the same.

For example, if you want teamwork, start by leading your department as a collaborative group rather than an individual. 


There are plenty of benefits of a collaborative finance team. Employees feel included, drive productivity, and deliver better results.

If your team is working in silos and not collaborating, encourage them to work together.

By following the tips above and building a collaborative environment, you should see an improvement in your team’s performance and culture.