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January 28, 2018

Visibility to Victory: The Case for FP&A (article)

Earlier this month, trailing the Georgia Bulldogs 13-0 in the College Football National Championship Game, head coach, Nick Saban and the Alabama Crimson Tide made a major halftime adjustment and replaced starting Quarterback, Jalen Hurts (25-2 record as a starter), with freshman, Tua Tagovailoa, because Saban had visibility to information in the first half and believed that Tagovailoa’s powerful arm was required for ultimate victory; it worked!

CBIZ CMF helps with strategic FP&A planning.

This lesson in “visibility to victory” is important to us as business owners, investors and leaders, and reminds us of the ultimate value in having a world-class Financial Planning & Analysis (FP&A) function.

In our FP&A work at hundreds of companies, we find the following situations negatively impacting visibility:

  • Data is housed in too many different systems or reports
  • Information is not relevant or timely
  • Ad-hoc, excel, everywhere
  • Reports are not action-oriented
  • Current reporting is compliance-oriented
  • Current reporting lacks key non-financial metrics
  • Undertrained staff

With the stage now set for Super Bowl LII, many of us here remain hopeful that the magic of a backup quarterback can, for the second time in as many months, propel a team, and an entire organization, from adversity to victory.

For more information about strategic FP&A, contact us.

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Copyright © 2018, CBIZ, Inc. All rights reserved. Contents of this publication may not be reproduced without the express written consent of CBIZ. This publication is distributed with the understanding that CBIZ is not rendering legal, accounting or other professional advice. The reader is advised to contact a tax professional prior to taking any action based upon this information. CBIZ assumes no liability whatsoever in connection with the use of this information and assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

CBIZ MHM is the brand name for CBIZ MHM, LLC, a national professional services company providing tax, financial advisory and consulting services to individuals, tax-exempt organizations and a wide range of publicly-traded and privately-held companies. CBIZ MHM, LLC is a fully owned subsidiary of CBIZ, Inc. (NYSE: CBZ).

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