At the end of 2019, the CEO looked at the projected 2020 financial numbers, and they didn’t look great. So she decided to explore some different business models and assumptions. She changed her staffing ratios, and she was able to examine the financial outcomes of those ratios under different economic conditions. When the economic conditions started to shift, she was prepared. Comparing her scenarios, she chose the one that looked best.
Now, she’s fully prepared to print out projections, distribute them to her staff, and explain the key assumptions and metrics that will get them to these projections.
Each month she compares actuals against projections. And updates projections.
And all without her CFO! Freeing her CFO to focus on those things she has hired them to do: accuracy, speed and compliance reporting.
And ensuring that when they update their projections with the actual numbers, they are both bringing their best to the table and can collaborate on achieving their desired financial future.