Daily P&L System

Managers for each of the five profit centers at Oak Lawn Marketing spent nearly two days preparing performance reports for the weekly performance review meetings. The managers were frustrated at the inaccessibility of information and the executives were frustrated by the inconsistency in business definitions and performance measures presented.

Sven addressed these inefficiencies by establishing a company-wide business glossary and standardizing key performance measure formulas. He designed an information system that integrated data from media, sales, and inventory systems into a centralized data warehouse, which automated daily profit and loss reports across both profit and cost centers and enabled day-to-day analysis of variance to budget.

The new system drastically reduced the managers' preparation time for the weekly meetings, saving about 150 hours collectively each month, equivalent to a full staff month. With standardized business terms and consistent performance metrics, the company could assess financial performance daily, enabling swift adjustments to advertising strategies and enhancing overall business agility.

EXPERTISE

• Management accounting

• Financial modeling

• Data analysis

• Business analysis

• Project management

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