The document discusses performance management secrets to improve business operations. It outlines the role of the CFO in performance management, including analyzing and benchmarking metrics, financial close and reporting. It also discusses using benchmarking and key performance indicators (KPIs) to compare a company's performance to peers and identify areas for improvement. The presentation provides examples of financial and non-financial metrics that can be used and explains how benchmarking works.

1. Citrin Cooperman TRU Snack Series
December 10, 2020
Performance Management Secrets to
Improve Business Operations

2. Welcome & Introduction
Principal, Leader of the Strategy & Business
Transformation and Business Process
Outsourcing Practices
Citrin Cooperman
sronan@citrincooperman.com
Steve Ronan
Account Manager
Spotlight Reporting
shively@spotlightreporting.com
Daniel Shively
Director, Strategy & Business
Transformation Practice
Citrin Cooperman
ccatalan@citrincooperman.com
Carlos A. Catalan

3. Performance Management
Overview
Continuous
Improvements &
Feedback
Close &
Financial
Reporting
Benchmarking
&
KPIs
CFO
Role

4. CFO
Governor
Performance
Planner
Policy &
Procedures
Enforcer
Risk
Management
Financial
Close &
Reporting
Analysis,
Benchmarking
& Translate
Strategic
Planner
Capital
Optimizer
Technology
Process
People
Governance
Performance Manager
Analysis, Benchmarking & Translate: Promote
efficient operations by establishing business
performance, goals and reporting insightful analysis to
the organization
Financial Close & Reporting: Perform all accounting
and transaction processing activities with efficiency and
integrity
Our Focus Today
The CFO Role

5. External Industry Metrics
&
Internal Business Metrics
Benchmarking
Create and refine external and
internal business metrics while
developing an action plan
Action Plan & KPI
Development
Income Statement
Balance Sheet Statement
Cash Flow Statement
Non-Financial Metrics
Performance Reporting & Analysis
Gap analysis of your current state
snapshot vs defined metrics
Performance Measurements
Finance
Performance
Management
What is Performance
Management?

6. Performance Management
Outputs

7. Financial Reporting Package

8. Companies use benchmarking to:
Understand Relative
Cost Position
Reveals a company’s relative cost position and
identifies opportunities for improvement.
Gain Strategic
Advantage
Helps companies focus on capabilities
that are critical to building strategic
advantage.
Improve
Performance
Identifies methods of improving
operational efficiency and
product/service design
Benchmarking & KPIs

9. How benchmarking works:
PERFORMANCE
MANAGEMENT DASHBOARD
We develop a performance management dashboard for
businesses to view their performance across operational
and capital efficiencies
BENCHMARKING
ANALYSIS
We perform benchmark analysis that helps
businesses identify areas for improvement and
efficiency while comparing the business with
other similar peers in the industry.
COST & PROFITABILITY
ANALYSIS
We develop sophisticated financial models to
uncover your fixed and variable costs and develop
the proper cost allocation that drives operating
profitability
Benchmarking & KPIs

10. Profitability
Productivity
Financial Position
Cash Flow
Efficiently generating
profits from sales
Staff and resources
efficiency
Controlling debt and generating
value back to the business from
investment decisions
Managing working capital and
capital expenditures
Type of
Benchmarking
Metrics
Description
How do you get started?
Top PerformersCompany X Data
2018 2019 2018 2019
Benchmarking & Translate

11. Using Maturity Benchmarking

12. General KPIs

13. Non-Financial Metrics Example

14. How we accelerate the close process:
GLOBAL FINANCE IT
LANDSCAPE
We uncover the business’s finance
and accounting IT applications that
support processes, governance and
resources
GLOBAL MONTH END
CLOSE PROCESS
We develop a global month end close
checklist that help businesses
understand what activities are required
to produce monthly financial
statements
GLOBAL CLOSE
PROCESS REDESIGN
We redesign business processes
like procure-to-pay, order-to-cash,
close-consolidate & report to
ensure there are no gaps and
deficiencies
Foundation to Data Insights

15. We’ll work with you by obtaining your
historical trial balance data and create
finance dashboards and metrics tailored to
your business
FINANCE
DASHBOARDS
We’ll work with you to enhance your
monthly financial and management
reporting package including specific
industry KPIs and non-financial data
FINANCIAL &
MANAGEMENT REPORTING
PACKAGE
We’ll work with you to improve your
forecasting techniques, next year’s
projections while reviewing your next year’s
budget while focusing on the allocation of
revenue/expenses
BUDGET &
FORECASTING
We need to create our
financial reporting
package…
Tell me more about
benchmarking &
KPIs…
Tell me more about
forecasting & scenario
planning…
Schedule a follow up meeting with us to discuss the following….
Next Steps

16. Questions?

17. Thank You
Speak ers :
STEVE RONAN
Principal, Leader of the Strategy & Business Transformation and Business Process
Outsourcing Practices
Citrin Cooperman
sronan@citrincooperman.com
DANIEL SHIVELY
Account Manager
Spotlight Reporting
shively@spotlightreporting.com
CARLOS A. CATALAN
Director, Strategy & Business Transformation Practice
Citrin Cooperman
ccatalan@citrincooperman.com