Finance is traditionally a backward-looking function in that it relies heavily on the data of the past to help tell the story of the future. In the debut episode of our ‘how to’ educational video series, where we spotlight niche industry experts to share their unique expertise, we caught up with ForceBrands’ Chief Financial Officer Karl Schroeder to discuss why it’s important to think about finance in a forward-leaning way.
“By the time the books are closed and the financials are released, the period is over,” Schroeder said. “You’re looking in the rearview mirror, which is no way to drive.” If the finance function can provide some forward-looking information, he added, then you have insights that enable you to anticipate what’s likely to happen and can adapt your plans appropriately to minimize surprises.
Discover how to look at past data to help shape future financials.
Watch the full video here.