Client Time Required to Support the FP&A Process
Time is critical when following a monthly FP&A process, and at DHAC, we're committed to supporting you every step of the way.
After completion of the implementation process, the time required to support the outsourced FP&A system on a monthly basis is as follows:
01. Data Submission
An overview of the data submission process can be found here and usually takes about two hours for your finance staff to complete.
The two hour figure excludes any time to:
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Close your accounting records
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Update your forecast (although functionalities in the data entry tool to reduce time and potentially increase the accuracy of your forecast.)
You remain in control of your chosen FP&A objectives and therefore what data is requested from us. If you wish to only bring in data that already available in your organization, this will ensure that the time required for data submission is kept to a minimum.
02. Monthly Review Meeting
Our monthly review meetings are scheduled for 2 to 3 hours and are typically held at your place of business. We can also host the meeting at our office in North York, at conference facility in downtown Toronto, or virtually.
It is recommended that your entire senior leadership team attend the monthly review meeting, although limiting the attendees to the finance department may also be a good option.
03. Other Time Requirements
Our monthly review meetings are structured to capture all actions items at the end of the meeting, and no further work is required from you until the data submission for the following month.
It is common however to have some interactions between DHAC and your finance staff post-meeting. This is usually when there are changes requested to the reporting package to be implemented in the following month.
There are no time limits or extra billings for post-meeting follow ups, or for a general discussion about your FP&A processes with DHAC, everything is included in our all-inclusive pricing.