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1. Building a Leading Class Budgeting
and Cash Forecasting Approach
Citrin Cooperman TRU Snack Series
November 12, 2020

2. KIERAN HIGGINS
Consulting Manager, Business Process Outsourcing Practice
Citrin Cooperman
khiggins@citrincooperman.com
Welcome &
Introduction

3. • Have timely accurate financial data is typically one of biggest
challenges organizations face when trying to achieve an
accurate cash forecast
• Identifying your inflows and outflows is cumbersome
• You may not have the right tools…
• Inability to identify future cash surplus may cause you to lose
out on investment or growth opportunities
• Budgeting is important but it does not help you manage
liquidity on a weekly or monthly basis
and doing it well is hard
Cash Forecasting is important

4. What do you need to think
differently about when it
comes to budgeting and
forecasting?
• Uncertainty is higher, business cycles are faster and a
shift in focus on short term cash flow is important
• You need to find common ground within your
organization to maneuver these issues by creating
strength and visibility in your numbers

5. How can you continue to thrive
without disruption and produce
accurate forecasts?
In the face of growing internal and external complexity
what would could be more important than
understanding where we are today?
Evaluate strategic business development options and
define the high-level strategic activities and initiatives
that help your organization thrive
Cascade short term, annual or long-term targets
across the organization and agree upon a performance
commitment from each business unit and function
Work to provide a realistic and projected outlook based
on changes in your business environment and the
latest view of expected performance against long- and
short-term organizational goals
Situation Assessment
Gather Information
Organize and Prioritize
Focus and Execution

6. CLIENT:
Healthcare Technology and Service Provider
SERVICE PROVIDED:
BPO - Outsourced Finance Operations, Decision Support, Cash Forecasting,
and KPI Support
WHAT WE DO:
• Board needed needed
assistance generating cash
forecasting, budgeting, and
scenario analysis for year end
planning and pending
valuation/transaction
• Board was used to a certain
set of KPIs that the accounting
staff left over could not provide
accurately or timely
Healthcare client who needed
seasoned finance leadership.
• Implemented and managed the
FY budget and built out a robust
forecast while cost accounting
for large new deals in the
pipeline with seamless
integration efforts
• Able to assist the client as
interim CFO with back office
support while a nation wide CFO
search was conducted
• Immediately stepped in to assist
with the upcoming FY budget
and five year forecast
• We also developed a rolling 13
week cash forecast to manage
short term liquidity for the CEO
and board whom understood the
business but were clinical
experts and non-financial
•
• Company was in a bind as the CFO and Controller were
leaving the organization quickly and were required to divest
due to a government post without replacements lined up and
proper transition support
• The company was currently onboarding various clients
simultaneously which carried large configuration costs and
needed to forecast short term liquidity while developing a long-
term robust business strategy
ISSUES
Citrin Cooperman’s team serves as the outsourced CFO and Controller, with
healthcare industry expertise
APPROACH OUTCOMES OUR TOOLS

7. • Organizations often struggle to translate their financial goals identified in their business strategy into shorter term
objectives for management in easy-to-understand formats
• As we know things change quickly in the world which is forecasting multiple scenarios helps decision makers make
impactful interventions before the organization feels negative effects
Be creative and dynamic
while adding rigor

11. How we can help
Strategic
Advisory
Solutions
Tactical
Short- Term
Support
Outsourced
FP&A
Solutions

12. Questions?

13. Thank You
For Watching & Listening