At the beginning of the year, project managers and the CFO planned expenses and incomes by month. There was no data for the forecast model, so the financial plan was treated like a horoscope - it did not play an important role in management decisions.
At the end of the quarter, the CFO would upload data from the CRM into a table and present the results to the board of directors. Usually, they would find overspending on several items and ask, "How did this happen?" After that, the CFO would leave for a month to sort out the data:
information on the services of current clients was iceland consumer email list obtained from project managers;
information on new clients - in the sales department;
expenses - in the finance department;
expenses of non-production departments - in departments;
data on other expenses - in the folder "Other". It contained approximately 40% of expenses. The company did not control them.
A month after the end of the quarter, the following table was shown at the board meeting:
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Problems with such a report
1. It takes a long time to compile
A month of work for a financial director is a significant waste of resources for a small company. Plus, each department kept records independently of the others.