Learning, Training, and Listening in July

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Webinar - TOMORROW

Unlocking Potential: Navigating Differences in Leaders and Teams with Kristine Berry

It's time we discover what fosters more effective collaboration across diverse backgrounds!!

Join PACE and Kristine Berry on July 25th at 11:00am ET and learn more about this subject, how it is pertinent for finance and accounting, and so much more.

Register free today for "Unlocking Potential: Navigating Differences in Leaders and Teams!"https://lnkd.in/gyyCp-_8

Kristine Berry is an inclusive leader, coach, and trainer who helps organizations foster sustainable success by leveraging the power of cultural diversity.

In this webinar we will:

Expand Cultural Perspective:

• Embrace expansive interpretations of culture, particularly in communication, critical thinking, organizational strategies, time management, defining purposes, and taking responsibility.

Improve Leadership Skills Across Diverse Backgrounds:

• Gain the knowledge and skills required to promote inclusive approaches when working and leading in multicultural environments.

Question Assumptions about Culture:

• Challenge preconceived notions about culture using a 7-stage model to navigate and adapt to cultural differences.

Call for Webinar Speakers

Call for Webinar Speakers

We will be starting up our free webinar series again in the fall and invite you to submit your topic and bio for consideration. The topics should be in line with our mission "To help organizations make better, more informed business decisions through the use of data analytics employing integrated, causal models"?, or on supporting ideas, technology, and soft skills.

Send your submission to [email protected]

PACE MasterClass

The PACE Profitability Analytics MasterClass is now available.

Win a chance to take the entire course free by completing the first module (also free) by August 31st 2024! It's a US$99 Value.

Want to become proficient with Profitability Analytics (PA) from the comfort of your home? The Profitability Analytics Center of Excellence has launched their FIRST self-paced, online, 8-module MasterClass and the first module is FREE!

We have teamed up with CostPerform to provide this training to you. This online MasterClass provides a structured, comprehensive approach to becoming proficient with profitability analytics, equipping you with the skills to drive organizational success through informed decision-making and strategic insights.

A certificate is issued upon successful completion.

The 8 modules include:

Module 1: Introduction to Profitability Analytics and the PACE Profitability Analytics Framework.

Module 2: Fundamentals of Causal Modeling

Module 3: Strategy Formulation Essentials

Module 4: Mastering Strategy Validation

Module 5: From Planning to Results: Effective Strategy Execution

Module 6: Revenue Management Analytics

Module 7: Effective Managerial Costing

Module 8: Managing Investment Strategy Using the PA Framework

Check it out today on CostPerform Academy! https://tinyurl.com/yc6hd6w6

PACE is a 501(c)3 organization and completely run by unpaid volunteers.

Article

CFO’s Guide to AI and Data Strategy: Navigating the Future by Paulo Jorge Ribeiro

The role of the Chief Financial Officer (CFO) is changing significantly due to advancements in Artificial Intelligence (AI) and data analytics. CFOs are now becoming strategic advisors, using AI to analyze data for better decision-making and operational efficiency. AI tools streamline financial processes, enhance decision-making through predictive capabilities, and provide real-time financial insights. These technologies also improve risk management and compliance. AI impacts core functions like financial reporting, management accounting, tax management, data management, IT collaboration, HR, procurement, supply chain management, CRM, and innovation management. Over the next five years, CFOs will manage integrated AI systems, rely on advanced analytics, ensure ethical AI use, transform finance talent, and form strategic partnerships, leading their organizations toward efficiency, innovation, and competitive advantage.

Read the entire article here: https://tinyurl.com/mvrnbcck

Podcast

What's more important? Operational or financial metrics?

In this new podcast, Larry White discusses the importance of operational versus financial metrics.

Initially, it may seem that both are equally important, but he explores this further. In manufacturing, traditional methods of inventory valuation and product costing have led to distorted information, which operations personnel have often disregarded. Despite this, manufacturing efficiency, quality, and performance have dramatically improved due to a focus on operational metrics rather than financial data. These operational improvements have led to better financial outcomes, not the other way around. From Larry's experience, only a small percentage of manufacturing professionals find accounting and finance information useful.

To address this, the PACE model ensures that operational models form the basis for financial modeling, emphasizing causality and a broader view of costs, including customer and sales-related expenses. Effective decision-making should consider various costing dimensions and focus on long-term success.

So, which metrics do you think are more important: operational or financial?

Links to podcast:

Spotify: https://lnkd.in/gFdXk6xJ

Apple: https://lnkd.in/gzYBd8Rb

YouTube: https://lnkd.in/gDReCGuS

*Google Podcasts have moved to YouTube

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 , and Podcasts on Spotify, Apple Podcasts and YouTube.?Also, check out some of our eBooks.

• The Profitability Analytics Framework
• Managerial Costing: Why it's important and how to do it?
• 6 Steps to Assessing and Improving Revenue Management Practices
• Why Causality is Essential for Effective Performance Management Systems
• Customer Profitability: How to measure it and why it matters
• Managing Customer Profitability - Should you love them or leave them?
• How to Better Manage Strategic Investment
• How to Better Manage Investment Costs
• Causal Based Budgeting: A Better Approach to FP&A
• Unleashing the Power of Strategy Formulation
• How to Implement a Customer Profitability Management System
• Implementing the PA Framework for Enhanced Internal Decision Support

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.

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