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Advice and Information for Finance Professionals

How to Know Your Profit Winners and Losers

Nigel Youell
Senior Director

Not understanding where you make or lose money can easily destroy your business. Nearly every CFO understands the need to focus resources and cash on the right things—to invest in more winners, and reduce investment in losers.  

But, as I recently wrote, the devil is in the detail. Finance leaders often have a troublingly incomplete view of profit and costs. Fragmented systems and a siloed approach to data continue to stand in the way of a holistic picture.

Companies admit they have work to do. 78% say that accurate cost information is one of their top targets for improvement, and 93% are taking (or planning to take) action to make improvements in this regard.

If you can determine the detail and discover what drives cost and improves profitability within your organization, you can:

  • Intelligently rationalize unprofitable products, services and customers
  • Create initiatives that improve profitable revenue growth, minimize cost to serve, and prioritize capital expenditures relative to ROI
  • Gain stakeholder buy-in as they can clearly see how amounts were allocated

Join me on Thursday, March 9 for a webinar on this topic. We’ll discuss how companies have made these changes and improved their financial decision-making by knowing their profit winners and losers.

Register now to attend.

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