Profitability Analytics Center of Excellence

We are very excited to promote this webinar with Prof. Chandan Jha on "Price Optimization and Profitability Analytics." There is a lot of time spent on product costing and not enough time spent on pricing and revenue management. Join us on December 5th 2024 as we discuss the following: ?? The Razor Blade Model, a widely-used strategy where companies offer an initial product at a low cost while generating long-term revenue through the sale of high-margin complementary products or consumables. ?? Dynamic Pricing, a flexible pricing strategy that adjusts in real-time based on various factors such as market demand, competition, and customer behavior. ?? Revenue Optimization, focusing on how businesses can use data-driven insights to align pricing strategies with broader business objectives. Register today: https://lnkd.in/giwfVkGU To share this webinar with your followers, please leave a comment, like, and share/repost it. --------------- ? Follow me ??♀?????♀??? for more insights ? Join ?? the PACE forum for discussion - (Linktree in my profile) ? Click the ?? to get notified of new posts (top right of my profile) ? Subscribe ?? to my monthly newsletter #accountingandaccountants #webinar #pricing Maral Shadpour Leonard Brown Scott M. Burroughs????

Who is more valuable-- historians or futurists? In this article, Gary Cokins explores this idea with respect to strategy, financial control, and financial decision making. Here is a little excerpt: "Bungay’s premise is that the leaders of almost all organizations can define reasonably good strategies. Where executives often fall down is leading their organization to implement their strategy. Bungay describes this problem as gaps and advises how to close the gaps. His assertion is that similar to military campaigns in war when a strategy encounters the real world then three types of gaps appear. He describes gaps in terms of expected results and reality: outcomes, actions, and plans. Gaps result from complex and difficult to predict environments that all organizations deal with and are made more severe with globalization – the reduction of international borders for commerce and information. The three gaps are: 1. The knowledge gap - the difference between what we would like to know and what we actually know. 2. The Alignment Gap - the difference between what we want people to do and what they actually do. 3. The Effects Gap - the difference between what we expect our actions to achieve and what they actually achieve. Based on Bungay’s deep knowledge as a historian of military practices, he observes that a key to successful strategy execution is delegating more decision-making authority to managers and employee teams." Gary explores the idea that given more say, and a deep understanding of the strategy, we might expect better outcomes from our financial teams. What do you think? For more content from PACE, please follow us. --------------- ? Follow us??♂???♀?for more insights ? Subscribe ?? to our monthly newsletter #accountingandaccountants #article #Strategy Massimiliano Mauriello?Gustavo Oseliero Ana Hernandez L?

What are the best KPIs to track for my industry? In conversation about measuring the effectiveness of a strategy or business success, this question comes up frequently . This is a difficult question as businesses can be unique by industry, but also unique within an industry. The most relevant KPIs for a company may vary depending on factors such as the type of operations, geographic location, and strategic goals. It's crucial to carefully select and track KPIs that align with the specific needs and objectives of the business, and regularly analyze the results to drive performance improvement and sustainable growth. For all industries, there are several KPIs that can provide insights into the operational efficiency, safety, financial performance, and environmental sustainability of the business. Following is a poster of frequently used KPIs used in 15 different industries that we put together. It's hard to understand what a KPI really measures without a definition, so we have also created a KPI dictionary to go along with the poster. You can download it here. https://lnkd.in/gmJhk6K5 You may also notice there are a few KPIs that are common across several industries. By reviewing industries other than your own, you may find alternate KPIs that may be useful to you. Doug Woikey suggested adding the chemical process industries to make the chart more symmetrical and adding KPIs for Oil and Gas such as dollars spent on undecisioned wells (unproductive assets) for oil and gas. Great suggestions! As always, we would love your feedback on our research. To share this infographic with your followers, leave a comment, click like, and repost. Download it for free. --------------- #accountingandaccountants #kpis #oilandgas #retail #insurance #construction Asif Masani Denise Probert, CPA, CGMA? Dudy Weizman?? *Some content provided from ChatGPT

A love/hate relationship with Microsoft Excel. When Excel came into our lives (1985 for Macintosh, 1987 for Windows), it was both a scary and exciting time. There were so many tasks that could be done more easily but there was a fairly steep learning curve. Once we mastered it (have we ever really mastered it?), we used it relentlessly for things it was built for and even things that it was not really meant to do. As the software application industry matured, they informed us that Excel was bad for finance and accounting, it was error prone, easy to mess up, and something meant only for the smallest of projects. And yet, here we are many years later still using Excel to help us get our work done. Of course we use other applications which are purpose built for finance and accounting, but Excel still seems to be the go to tool of choice, especially if we need to do something quickly, to test a calculation or idea, to prototype, to organize a list of data, or even sort a list of names. So, to celebrate, I thought I would share a short list of why we love and hate Excel. Please share your love/hate story about using Excel in the comments. To share with your followers, please click LIKE, leave a comment, and repost. --------------- ? Follow us??♂???♀?for more insights ? Subscribe ?? to our monthly newsletter #excel #accountingandaccountants Ioannis Arampatzis ACMA, CGMA, MBA, FPAC Laurent Letestu?Faraz Hussain Buriro?

Great webinar of a real application of the PACE method to improve internal decision support information.

NEXT WEEK! How to exponentially increase an organization’s performance! On November 21, 2024 at 11:00am ET, join Gary Cokins in the webinar "Analytics-Based Enterprise Performance Management" where he will discuss how the seamless integration of enterprise and corporate performance management (EPM/CPM) methods, that are each embedded with advanced analytics, will exponentially increase an organization’s performance. Many organizations are far from where they want and need to be with improving their performance. They apply intuition, rather than fact-based data, when making decisions. Enterprise performance management (EPM) is now viewed as the seamless integration of managerial methods such as: ?? Strategy execution with a strategy map and its companion balanced scorecard (KPIs) ?? Operational dashboards (OPIs) ?? Enterprise risk management (ERM) ?? Capacity-sensitive driver-based budgets and rolling financial forecasts ?? Product / service / channel / customer profitability analysis (using activity-based costing [ABC] principles) ?? Customer lifetime value (CLV); supply chain management ?? Lean and Six Sigma quality management for operational improvement and resource capacity spending planning. Each method should be embedded with business analytics of all flavors, such as correlation, segmentation, regression, and clustering analysis; and especially predictive analytics as a bridge to prescriptive analytics to yield the best (ideally optimal) decisions. This presentation will describe how to complete the full vision of analytics-based enterprise performance management. Register here: https://lnkd.in/gk7fd3qb To share this webinar with your followers, please leave a comment, like, and share/repost it. --------------- ? Follow us ??♀?????♀??? for more insights ? Subscribe ?? to our monthly newsletter #accountingandaccountants #webinar #performance Sundus Tariq Cruz Gamboa ?Shumaila Khalid???

Well, there are signs that the end of 2024 is coming, but there is no end to the learning opportunities! This month and through mid-December, look for webinars on: ?? Analytics-Based Enterprise Performance Management with Gary Cokins ? ?? Price Optimization and Profitability Analytics with Prof Chandan Jha ? ?? FP&A in the Age of ESG with Abhinav Aggarwal and CA Sanjay Rikhy We also have new replays on: ?? Scary Tales and Worst Practices in Profitability and Cost Management Pedro San Martin, Leonidas Rey, Miguel Flores, and Mark Jayson Agacer, US CMA, CPA, CSCA, CSSYB ?? Practical AI Use Cases for CFO Teams with Fletcher Cox and Edward Roske And also a podcast ?? and an article ?? by Larry White If you have suggestions for topics to explore, or you would like to be a guest on our PACE Moments podcast or a Webinar, please contact us. To share with your followers, leave a comment, click like and share/repost. --------------- ? Follow us??♂???♀?for more insights ? Subscribe ?? to our monthly newsletter #accountingandaccountants #webinar #replay Kevin Appleby ??Faraz Hussain Buriro ?Olawale Olaogun (MBA, FCA, FCCA, CIA, DCP, CRMA)??

How can FP&A help with ESG initiatives? ESG is growing more important each day and because of this, FP&A teams need to get involved by incorporating ESG metrics into their financial models to understand the financial impact of ESG initiatives. By doing so, they help align financial planning with the company’s sustainability objectives, ensuring that ESG considerations are factored into resource allocation, cost planning, and risk assessments. This integration helps drive a company’s long-term success, supporting both profitability and sustainability as essential components of corporate strategy. On December 12, 2024 at 10:00am ET join Abhinav Aggarwal and CA Sanjay Rikhy from GA Management Consultants to learn more about: ?? The role of FP&A in tracking and reporting ESG initiatives ?? ?Integrating ESG metrics into financial models to align with sustainability goals ?? ?Supporting initiatives that can attract investors and boost the company’s reputation To share with your followers, leave a comment, click like and share/repost. --------------- ? Follow us??♂???♀?for more insights ? Subscribe ?? to our monthly newsletter #accountingandaccountants #webinar #ESG Teji Varghese ?ChandraKumar R Pillai Aliyyah Abdullah MBA CPA??

We are very excited to announce this webinar with Prof. Chandan Jha on Price Optimization and Profitability Analytics. There is a lot of time spent on product costing and not enough time spent on pricing and revenue management. Join us on December 5th 2024 as we discuss the following: ?? The Razor Blade Model, a widely-used strategy where companies offer an initial product at a low cost while generating long-term revenue through the sale of high-margin complementary products or consumables. ?? Dynamic Pricing, a flexible pricing strategy that adjusts in real-time based on various factors such as market demand, competition, and customer behavior. ?? Revenue Optimization, focusing on how businesses can use data-driven insights to align pricing strategies with broader business objectives. To share with your followers, leave a comment, click like and share/repost. --------------- ? Follow us??♂???♀?for more insights ? Subscribe ?? to our monthly newsletter #accountingandaccountants #webinar #revenuemanagement #pricing Pramod Ralkar Jay David Massimiliano Mauriello

How to be a happy accountant. With all the deadlines and budget cuts, being a happy accountant may seem impossible sometimes. But happiness can be influenced by various factors such as personal fulfillment, work-life balance, job satisfaction, and cultural context. However, some regions or countries may have characteristics that contribute to higher levels of happiness among accountants. Here are a few factors that could contribute to accountants' happiness in certain places: ? 1. Work-Life Balance Initiatives: Countries or regions with strong work-life balance initiatives, such as flexible work arrangements, generous vacation time, and family-friendly policies, may foster happier accountants who can better balance their professional and personal lives. ?? 2. Positive Organizational Culture. Accounting firms or organizations that prioritize employee well-being, offer supportive work environments, and encourage open communication and collaboration may contribute to higher job satisfaction and happiness among accountants. ??3. Competitive Compensation and Benefits. Regions with competitive salaries, comprehensive benefits packages, and opportunities for career advancement may attract and retain happier accountants who feel valued and rewarded for their contributions. ?? 4. Low Stress Levels: Countries with lower levels of work-related stress, such as manageable workloads, reasonable deadlines, and supportive management, may cultivate happier accountants who experience less burnout and job strain. ?? ?? ?? 5. Strong Social Support Networks. Societies or communities that prioritize social connections, provide strong social support networks, and promote a sense of belonging may contribute to higher levels of happiness among accountants who feel connected and supported in both their professional and personal lives. There are many stresses associated with accounting, but if you prioritize factors such as work-life balance, positive organizational culture, competitive compensation, low stress levels, and social support networks - you can be a happy accountant too. Thank you to Chuks Odagbu for his comment on this article. "Having a positive outlook helps one to be happy generally. And so does seeking ways to improve and to help others to achieve worthwhile things." To share with your followers, leave a comment, click like and share/repost. --------------- ? Follow us??♂???♀?for more insights ? Subscribe ?? to our monthly newsletter #accountingandaccountants #worklifebalance Laurent Letestu?, Achille Ettorre, MBA Teji Varghese??