Unlocking Profitability Potential in Turbulent Times and Beyond

Sponsored By CFO Research Services

Topics:

Budgeting & Planning > Forecasting

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Abstract:

In a continuously fluctuating economic environment, a forward-looking view of profitability is critical. In this research program, we surveyed senior finance executives on the level of detail available for profitability data, who in their companies uses that data, and how it is used. We found that only about half of the respondents say that their companiesı business unit management has a good understanding of the use of profitability data or has ready access to it for decision making. But we also found that companies with automated processes in place for profitability analysis are more likely to report that their business managers have better access to and understanding of the profitability data they need to make good business decisions. These companies exhibit stronger collaboration between finance and the business units, as well as among the business managers themselves, in the use of profitability analysis for management decision making.

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