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September 3, 2019

"We Need This Like Oxygen"

Middle-market businesses often operate with a lean Finance and Accounting team, and don’t always have the necessary resources to build and enhance their financial performance management function. Without a robust performance management capability, businesses lack visibility to quickly respond to new events and transitions efficiently.

“We Need This Like Oxygen,” was what we recently heard from one of CBIZ CMF’s clients when referring to our financial performance management services.

CBIZ CMF’s Top 4 Performance Management Initiatives

Effective financial performance management requires executing on an ongoing cycle of related processes focused on planning, reporting, and forecasting all supported by continuous analysis. This cycle is most commonly spearheaded by an organization’s financial planning and analysis (FP&A) function. Without proper investment in FP&A resources and skillsets, financial performance management is often limited to periodic P&L and budget discussions that do not provide actionable business insights.

These four core FP&A capabilities are table stakes to build and enhance your financial performance management:

  1. Data-driven strategic initiatives provide the platform for proper resource management with set targets to gauge progress.
  2. Robust, initiative-based budgets ensure goals are aligned and transparent. Furthermore, assumption-based budgets allow for in-depth root cause variance analysis.
  3. Flash performance reporting processes provide mechanisms to check the pulse of the business and raise discussions on a cycle appropriate for the business.
  4. Highly efficient 3 statement re-forecasting models allow resource-constrained businesses to efficiently estimate where the business will land and proactively take action.

With limited resources, driving and implementing these core capabilities can be an uphill battle that exhausts your team and delays strategic initiatives. CBIZ CMF’s FP&A team provides the “oxygen” and focused processes needed to support and enhance your financial performance management capabilities.

To learn more about CBIZ CMF’s Financial Planning & Analysis services, click here.

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