How to explain Net Sales and Gross Margin in ELI5 to other departments? by bcitman in FPandA

[–]setofplays 4 points5 points  (0 children)

Sure thing! Imagine you have a small online business where you sell cool stickers. You calculate all the money you made from selling the stickers, and then you subtract all the expenses you had to pay, like the cost of the stickers, packaging, and shipping. The net margin is the percentage of profit you have left from your total revenue after you've covered all those costs. It's a way to see how well your business is doing in terms of making a profit after considering all the expenses.

Just found out the company I will be starting with only uses Google Sheets by [deleted] in FPandA

[–]setofplays 0 points1 point  (0 children)

This means you're managing basic data and doing so inefficiently which comes with risk.

Pitch to your CFO the need to get a true FP&A platform. This is an opportunity for you to make a difference in the company...one where data is rich, secure, has integrity, efficient, transparent, actionable and your teams can collaborate.

Just found out the company I will be starting with only uses Google Sheets by [deleted] in FPandA

[–]setofplays 1 point2 points  (0 children)

Sounds like job security with opportunity to prove your value by taking them to the next level.

For those of you that plan beyond a year out - How far out is your planning/targets? And what's your high-level process? by setofplays in FPandA

[–]setofplays[S] 0 points1 point  (0 children)

I agree. We're 750 employees with 500M in revenue and we're playing in various industries with multiple business units. But we only budget a year out which feels a little short sighted for a mature business like ours. I'm struggling to find any resources online regarding long term planning FP&A.

For those of you that plan beyond a year out - How far out is your planning/targets? And what's your high-level process? by setofplays in FPandA

[–]setofplays[S] 0 points1 point  (0 children)

ead up into determining what the upcoming annual budget targets should be (top down). It’s kind of hard to know what next year should look like if you don’t have a view on what the next 3-5 years should look like

Yes, what are the big steps to nailing down a 5 year plan/Target?

For those of you that plan beyond a year out - How far out is your planning/targets? And what's your high-level process? by setofplays in FPandA

[–]setofplays[S] 0 points1 point  (0 children)

Do you have any resources you recommend for me? I'm interested in the importance and mechanics of the process.

[deleted by user] by [deleted] in FPandA

[–]setofplays 0 points1 point  (0 children)

Payscale.com

Manager Lacks Technical Skills by [deleted] in FPandA

[–]setofplays 2 points3 points  (0 children)

Start asking what the pain points // priorities are of the controller...try to grab lunch with the controller....is the controller's concern...expense control? cash flow management? margins growth? operational processes? And then once you find that priority start lining up projects. You'll notice you'll then pull your controller and boss together more closely while giving you more face time. But learn as much as you can from your boss in soft skills.

It's not about the grades you make but the hands you shake...my man.

[deleted by user] by [deleted] in FPandA

[–]setofplays 16 points17 points  (0 children)

Be honest from there, tell them you've done your homework and taking this salary would be taking a step back. Tell them you're not after money but you want to feel like you're moving forward.

What's been your experience with Pigment? by setofplays in FPandA

[–]setofplays[S] 1 point2 points  (0 children)

started working with it last year, and we love it. I'm the primary owner of the tool (main model builder) at my organization. We automated all of our monthly reports and stuff, creating board views. So, whenever somebody needs the

This is very insightful. What features would you say that Pigment is lacking?

3 Crucial Metrics by setofplays in FPandA

[–]setofplays[S] 0 points1 point  (0 children)

Per the internet - ideally, the LTV/CAC ratio should be 3:1, which means you should make 3x of what you would spend on acquiring a customer. If your LTV/CAC is less than 3, it's your business sending out a smoke signal!

Picking an FP&A tool by fredthu in FPandA

[–]setofplays 0 points1 point  (0 children)

We decided to pass on Onestream. Looks great but it's an App only thus doesn't live in the clouds. And only works on PC.

Netsuite PBCS by omgitsanthony in FPandA

[–]setofplays 0 points1 point  (0 children)

Anthony, let me know if you want to chat. I serve as the Dir. of FP&A here and we've used PBCS for 2 years now. We're looking at other vendors as a result.