Daily P&L forecasting system for swift decision making
Managers at Oak Lawn Marketing’s five profit centers spent nearly two days each week preparing performance reports for review meetings. Frustrations ran high as managers struggled with inaccessible information and executives faced inconsistent business definitions and performance measures, undermining the effectiveness of strategic discussions.
Sven tackled these challenges by creating a company-wide business glossary to standardize key performance measures and formulas. He designed an information system that integrated data from media, sales, and inventory systems into a centralized data warehouse. This system automated daily forecasts of month-to-date profit and loss for each center and the consolidated company, enabling consistent and timely variance-to-budget analysis.
The new system reduced managers’ collective preparation time by 150 hours per month, equivalent to a full staff month, and provided standardized, accurate performance metrics. Daily financial performance insights empowered the company to make swift adjustments to advertising strategies, improving business agility and decision-making. This initiative exemplified Finance BI’s role in applying technology to enhance FP&A work efficiency.
EXPERTISE
Management accounting
Financial modeling
Data analysis
Business analysis
Project management
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