Financial Planning and Analysis
A new-to-role CFO struggled to develop an effective financial plan as the organization faced significant challenges. ERG’s assistance was sought to implement a proactive, collaborative planning approach.
- Centralized ownership of planning process inhibited collaboration
- Outcomes did not adequately reflect or support budgetary objectives and business insights of cross-functional managers
- Financial planning was managed in Excel using a time-consuming manual data extraction and update process
- Held consultative meetings with the CFO and business segment leads to formulate a decentralized budgeting approach that was collaborative, cross-functional and consistent with best practices
- Deployed tools for scenario, sensitivity and variance analysis, data reconciliation and consolidation
- Implemented automatic sharing of reports with version control
Successful implementation of a decentralized, collaborative, and cross-functional financial planning and analysis function that transformed the overarching company strategy into budgets, forecasts, performance targets and analyses.