BPM and Outsourcing Services for CPG Business

Gain the financial visibility and discipline you need to maintain a profitable, high-growth company. Propeller Industries is an enterprise-grade financial partner that empowers the most ambitious companies to reach their full potential. If you need advice or help preparing your tax returns, you may wish to ask your diocese to refer a CPA or tax advisor in your area who is knowledgeable about clergy taxes. She has been a member of Holy Trinity Episcopal Church in Auburn AL for over 30 years and has served on the vestry and finance committee and enjoys singing in the choir. Nancy N. Fritschner is a CPA with a particular interest in clergy taxes as she is a clergy spouse.

Improve your efficiency with our order-to-cash templates such as – A/R Aging Report, DSO calculation excel template, A/R Dashboard excel template, credit scoring model for new customers, 21 Credit-collections email template, and Our Ebooks. Items used daily by average consumers that require routine replacement or replenishment, such as food, beverages, clothes, tobacco, makeup, and household products. The largest in-person UnConference for the office of the CFO is back in Atlanta.

Avoiding Common Pitfalls in Your Annual Planning Cycle

Fast and clear, multidimensional insight is essential regarding all costs and profits throughout the value chain e.g. by product/brand/region/customer segment/distribution channel and with activity-based costing. Preferably through a rolling forecast with direct cashflow planning and scenario planning for what-if analysis, providing forward-looking insights to optimize, prioritize and focus on the right investments and mitigate risks at the same time. We help develop a proper financial and tax foundation that can support the rapid growth of your brand. We strive to take the accounting, tax and finance issues off your plate so you can concentrate on your business, and provide you with the tools and real time information you need to better make decisions and manage your operations. We are well-positioned to grow with you through each stage, from venture capital to private equity to ultimate exit. This lifecycle sounds simple enough, but it gets complicated once you multiply it by the hundreds of discount programs across your retailer customers and add in the accrual that you will need to take to properly account for the agreements.

Under this accounting method, you would recognize revenue when it’s earned — not when cash changes hands. Looking back at our previous example, you would recognize your sale to the local store upon delivering those goods — not when they pay the invoice 30 days later. Disorganized and neglected financial processes will compromise the growth and longevity of your company. So, it’s prudent to understand and implement the following cpg accounting fundamentals. Infosys’ Source-to-Pay solution designs standardized and centralized procurement processes to suit the varied needs of global clients.

Make light work of consolidation and lease accounting

Quickly define the sales baseline with the ability to make manual adjustments and manage new product introductions. Produce and maintain pricing, discount lists, and sales targets for all your accounts, ensuring complete clarity and a standardized approach. Consolidate your financial information and produce accurate lease accounts at the click of a button. Enabling organizations to ensure adherence with ever-changing regulatory obligations, manage risk, increase efficiency, and produce better business outcomes.

We specialize in unifying and optimizing processes to deliver a real-time and accurate view of your financial position. These tools are essential for small manufacturers and distributors of consumer packaged goods, who need to track and monitor their products for quality compliance. Besides that, these tools help in financial planning, product shipping, pricing management and much more.

BPM services for CPG companies

Prior to 8020 Consulting, Bob led finance and accounting as the Vice President of Finance for Ardmore Home Design, a high growth wholesale luxury furniture company. He has leadership experience with TechnipFMC , Panasonic (in-flight entertainment and communication), Hawker Beechcraft and Ford Motor Company.

Inventory-related bookkeeping needs that most general bookkeepers aren’t able to serve. Unlike traditional general bookkeepers, Accountfully has in-depth industry experience and can therefore act as a strategic partner. Adaptability, agility and creativity are the most important characteristics for a company to survive. This needs to be fed fast by reliable, accurate and actionable information with context through a modern cloud-based planning and reporting system that gives you the velocity you need for your business, going beyond traditional planning. And the lockdown and today’s market uncertainty showed that doing nothing, trying to face the challenge by dealing with old fragmented legacy systems could even cost more. Our solutions for regulated financial departments and institutions help customers meet their obligations to external regulators.

Sample out-of-box CPG metrics, KPIs, and charts

With experienced talent in specialized roles and the flexibility to adapt as your needs evolve, we are your long-term partner in growth. Our fractional model offers a dynamic workforce solution that provides a cost-effective alternative to hiring full-time talent too early.

As an emerging CPG company, your data sets are your transactions, accounts payable, inventory changes, invoices, and so on. Whether you use a financial system like QuickBooks or Xero, you must standardize your data recording process. Implementing a data strategy will help you create a financial roadmap, identify trends, and expose financial constraints or issues. Startup to Scale is a podcast by Foodbevy, an online community to connect emerging food, beverage, and CPG founders to great resources and partners to grow their business. Visit us at Foodbevy.com to learn about becoming a member or an industry partner today. Therefore, the goal was to leverage the expertise of accounting and financial experts to keep track of the cash that the customers owed and to ensure customer payments were collected more consistently. When a buy one get one free coupon is redeemed as part of a sales transaction, revenue is recognized for the price of one product and cost of goods sold is recognized for the cost of both products.

The Infosys BPM sales and fulfillment practice adopt a metrics-driven approach to help CPG companies enhance customer satisfaction, leading to top-line growth and inventory turns. It enables better asset utilization through continuous process improvements, enhanced visibility, and smooth interactions across departments. A majority of CPG companies find it a challenge to manage logistics across multiple vendors, manufacturing locations, distribution centers, Carrying and Forwarding (C&F) locations, distributors, https://www.bookstime.com/ and dealers. Our solution enables efficient data management of transport vendors and contracts management with new transporters through research and analytics. The need to reduce costs and achieve process efficiencies in the F&A space drives the CPG industry to outsource the Finance & Accounting (F&A) function. Infosys’ offerings in this space address issues such as the high costs of F&A services, need for high-quality service, and need for automation through the implementation of technology enablers.

• This position is responsible for the full accounting cycle, financial reporting, month and year closings, payroll, and banking duties.
• You offer a trade deal in September at the retail level, and the distributor orders a higher quantity than usual to take advantage of the deal.
• The offers that appear in this table are from partnerships from which Investopedia receives compensation.
• If you have specific tax-related questions, we encourage you to contact your personal tax advisor or call our tax hotline at the numbers listed below.

For a product-driven company in the food and beverage industry, a few focus areas that can help drive understanding, actionable information and strategy are thorough reviews of discounts and allowances and Cost of Goods Sold . Be cautious, as brokers may agree to spend that is not authorized by internal teams or aligned with trade rates set forth by finance.