Hurry! PACE Members Get 50% off Profits+ Registration till June 1st.

Hurry! PACE Members Get 50% off Profits+ Registration till June 1st.

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Profits+ Virtual Conference Information

HURRY! PACE Members Get 50% off $99 Registration till June 1st.

PACE Profits+ Virtual Conference will be held June 20, 2024 from 8:00am - 5:00pm. PACE members receive 50% off the $99 registration fee until June 1st (and PACE membership is free). After that the price goes UP!

There's an amazing line-up of experienced and knowledgeable speakers, a 1.5 hour technology showcase, game, and draw, and Dr. Vanessa Shannon - a Mental Performance Consultant - will be our Keynote Speaker. She previously worked with the Cincinnati Reds Baseball team among many others.

As an added bonus, the first 100 registrants will receive an advanced copy of "The Best of PACE 2023 Articles" ebook. It has more than 25 articles and covers a variety of profitability analytics, finance, and technology-related topics. more.

Click here to register as a PACE member, and also register for the conference


A few of our Profits+ sessions:

Gary Cokins, President, Analytics-Based Performance Management LLC and PACE Director

Barriers, AI Impacts, and Getting Started

Successfully implementing the PACE Profitability Analytics Framework (PAF) can be a challenge. There are barriers from managers including resistance to change and their fear of being measured and being held accountable. Other issues involve the impact of artificial intelligence (AI) on the accounting profession including replacing jobs with a computer. Finally, organizations stumble when they cannot figure out ways to get started implementing the managerial methods in the PAF. This presentation addresses these. It provides advice to overcome the barriers. It describes 5 impacts on AI and how accountants can mitigate the risk and threats from AI. Finally, it provides ways to quickly implement PAF methods in less than 3 weeks, not many months. By implementing the full vision of the PAF organizations can improve their operational and financial performance.

Jacques Vigeant, Oracle

AI & Analytics for Finance and Everything Else

Jacques will demonstrate how Gen AI is transforming the Analytics landscape and workflows. From identifying insights automatically, to allowing everyday users to chat with their data and finally by automatically creating and delivering impactful stories with the intent of affecting change in your organization.?

Jeff Miller, Semiconductor Technology Cost Lead, General Motors, and President of SPCEA

Case Study:? Cost Engineering Implementation within Manufacturing Companies

In the landscape of modern manufacturing, optimizing costs while maintaining product quality and innovation is paramount for sustained competitiveness. ?This presentation delves into a compelling case study illustrating the strategic implementation of cost engineering within manufacturing companies, describing how cost engineering serves as a potent method to cultivate cost comprehension across engineering, procurement, and manufacturing domains. ?Critical considerations in establishing and staffing a robust cost engineering framework will also be discussed.

Click here for the full list of speakers and abstracts


Many Experienced Practitioners will Speak at the Conference

We are so fortunate to have a great lineup of speakers again this year. Check our website for the full list of speakers and their topics.

Click here to learn more


Please join us in thanking our sponsors and attend their informative presentations. Their contributions enable us to put a high quality program together and provide it to you!

Gold Sponsors:

Silver Sponsors:

Click here to register and learn more

Article:

Is Your Board and Senior Management Using the Right Financial Information?

by Larry White

In his latest article, Larry White questions why corporations, despite being successful, might not always have the "right" financial information.

Here are the main points:

  1. Questioning the reliability of financial information: Despite corporations being successful and hiring smart, creative people, there's a question about whether they always have the "right" financial information.
  2. Overemphasis on financial accounting: Financial accounting information is heavily regulated and standardized, unlike other types of data within an organization. This leads to an overemphasis on financial metrics, perpetuated by major audit firms, which may not always provide the full picture.
  3. The myth of the "one version of the truth": The article criticizes the idea that there is only one true version of financial information, arguing that this myth is perpetuated by major audit firms and leads to an over-reliance on financial accounting.
  4. The consequences of over-focus on financial accounting: While not leading to failure, an over-focus on financial accounting can limit decision-making, particularly at lower management levels, where decisions are often based on traditional financial accounting logic rather than a broader perspective.
  5. Errors in executive performance metrics: Basing executive performance and salary metrics solely on financial accounting metrics can be problematic, as these metrics can be manipulated and may not reflect the organization's true performance.
  6. The need for broader metrics: The article advocates for the use of broader metrics beyond financial accounting, such as investments in intangible capabilities, customer costing, and more accurate product costing, to make better-informed decisions at all levels of the organization.

Learn more reading the full article.

Link to the Article


New Study:

Organizational Excellence Study - Due May 30th

Take part in this study and learn more about your own company (free). This survey does not take long and will provide a lot of valuable information. If you went to Part 1 of the Organizational Excellence webinar, you will understand just how valuable it can be (replay is not required viewing but here is the replay link https://youtu.be/6V4vNiT7-QE )

Click the appropriate link below today and take part!

Get your results during the May 16th webinar - see below for registration.

Upcoming Webinars:

TOMORROW! April 25, 2024 - Bundling approaches for the bottom-line boost!

With Ganna Demydyuk , Kim Spolén , and Daniel Burnside . They will discuss how a bundle can create a larger potential in two items compared to them separately and how firms use unbundling to maximize revenue (extra charges, tip, etc.).

Link to register


May 2, 2024 - Forecasting Revenue & Using This to Set Prices - Typical Issues & Solutions with Mark Spracklen

Link to register


May 16, 2024 - Organizational Excellence-Part 2, including Real Time Assessment Results for PACE followers and members.

Link to register and get more information


Webinar replays:

Principles of Profitability Analytics in Higher Education with Ronald Wendeln (April 18, 2024)

A Webinar for Executive Leadership Teams, Senior Academic Administrators,

Faculty, and Practitioner's College and university leaders and faculty are being hard pressed to justify the profitability of their programs and offerings in the wake of intensified competition, unfavorable demographics, and threats of retrenchment. Old profitability models typically miss 60 percent of activities and costs for delivering an educational experience. They are biased toward reducing expenditures and, consequently, disregard strategic investments to strengthen value, market share, and competitive and reputational positioning. This webinar introduces a robust framework for profitability analytics that coherently addresses:

? Value Chain.

? Resources and Costs.

? Profitability Measure.

? Performance Improvement.

? Investment and Repurpose.

This webinar demonstrates how using an activity-based costing (ABC) system presents not only a clearer picture of program profitability but multidimensionally of its delivery channels, academic units, and student markets.

Link to replay


Organizational Excellence Part 1 with Dawn Ringrose MBA FCMC (March 21,2024)?

Since 2015, Organizational Excellence Specialists has been leading a large (volunteer) global research study to capture the current state of organizational excellence by size, industry sector and region. Intended to provide benefit for the excellence community in general and the working population at large, the study has identified the extent to which organizations have a culture committed to excellence and have deployed best management practices common to high performing organizations.

This webinar features the aggregate results from the most recently published report (2023) with close to 3,000 respondents. A must attend presentation for any leader, manager, business advisory or excellence professional, the results provide a view to ‘what is going well’ and ‘what needs to improve’. It is a study that invites like-minded professionals around the world to join forces and work together toward a common aim – helping organizations to achieve results, desired outcomes and recognition.

Replay Link


Pricing for Different Demographics

During this Revenue Management webinar and meeting (March 14 2024), Ganna Demydyuk , Kim Spolén and Daniel Burnside provided so many examples from their experience so participants were able to understand how pricing can be different for different demographics.

Replay Link


We are pleased to be able to provide free, thought provoking content on the latest developments in finance and accounting.

If you want to see more PACE content, please check out our LinkedIn PACE Channel , website , Twitter account , and Podcasts on Spotify , Google , Apple Podcasts and YouTube .?Also, check out some of our eBooks on:


The Profitability Analytics Center of Excellence (PACE) is a?non-profit community of volunteer professionals?dedicated to helping organizations make better, more informed business decisions through the use of data analytics employing integrated, causal models.?Focusing exclusively on how to enable better managerial decision-making within organizations through the use of such models, PACE is the go-to source for people looking for independent and impartial (vendor and methodology neutral) information in this area. You will find many supporting articles, eBooks, blogs, and podcasts at www.profitability-analytics.org .?Consider becoming a member today. Basic membership is free.

Gary Cokins

Founder and CEO: Analytics-Based Performance Management LLC; Expert in ABC, EPM/CPM, Profit Analysis, Budget, Analytics

7 个月

Thank you Raef Lawson for your LinkedIn message above. The PACE Profits + Virtual Conference has a exceptionally good line up of speakers. It will be of value for learning to attendees. Register if you have not already.

This is a one-of-a-kind event for accountants who want to enhance their own value by enhancing the value of their organizations. Shouldn't that be the goal of every management accountant?

Justin Stearns

Associate Professor Of Accounting at Eastern Kentucky University

7 个月

everyone should take advantage

Kim Mather

Owner at Kimat Designs

7 个月

Wow, so much going on! The conference looks amazing and have already signed up for the webinar tomorrow! Keep up the good work PACE!

Jeff Miller

President - Society of Product Cost Engineering & Analytics (SPCEA) Sr. Leader | Consultant | Board Member specializing in cost and quality optimization of electronic assemblies and semiconductors.

7 个月

I am very excited to present at the conference on a Case Study:?Cost Engineering Implementation within Manufacturing Companies, and look forward to many of the other presenters and their topics. Highly recommend registering for this conference.

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