I came across an article from CFO Magazine I wanted to share with the community. Method Products, a San Francisco-based maker of environmentally friendly home and personal cleaning products, has enjoyed years of healthy growth, becoming a $100 million, 100-person company since its founding in 2000. But just recently the CFO has led a project to improve their budgeting/planning process.
In the past, faulty communication between departments sometimes resulted in salespeople left without the samples they needed to go on calls, for example, or missed target dates for product launches. “There was often a feeling of scrambling, without the kind of collaboration you needed to get things done,” says CFO Andrea Freedman.
The project is already showing results as Method begins its 2011 planning. Now, staffers throughout the company share an understanding of its key processes and a language to describe them. “Planning this year has been amazing,” says Freedman. “Instead of finance trying to chase people down at the last minute to build in assumptions about things, there has been an impressive amount of information shared.”
Here’s the link if you’d like to read more…