Implementation - Tailored Approach
For organizations that are looking for something other than our structured implementation approach, we follow the general concepts outlined below, all while keeping the client in charge, and working towards building-out an FP&A process customized to your needs.
Define FP&A Objectives
A list of 5-15 short statements provided by your organization that defines the purpose of the FP&A system. This provides structure to, and is the ultimate test of the effectiveness of the FP&A system.
Base Structure
A reporting package provided by DHAC that meets all FP&A objectives, while using the lowest amount of reporting detail possible, and using minimal visual aids. This provides a starting point to build-out your reporting package. It also defines the minimum level of reporting that must be provided in order to meet your stated FP&A objectives.
Add-on Views and Customization
At your request, additional FP&A views (pages in the reporting package) are added, and you will have the opportunity to select your visual preferences. This is where you choose how to structure the reporting package in order to highlight the most important financial information, and how to best communicate it.
Monthly Data Request
DHAC will request, using our data entry tool, the minimum amount of data that is required to produce the base structure and add-on views selected.
Most likely, the data required will include a summarized trial balance. This trial balance can be provided either on a GAAP or non-GAAP basis. Normally, the data request also will include other quantitative information, such as business performance metrics, to give context to the financial information.
Best Practices
A common approach is to start by choosing objectives that rely on data that is already available in your organization. This allows for fast and easy implementation of your new FP&A system.
Over time, if more complex FP&A objectives are identified, more, new, or different data can be brought into the FP&A process.