Even if you’ve done your shopping and selected NetSuite as your preferred Enterprise Resource Planning (ERP) platform, it’s likely you still have concerns about migrating your data from your current systems into the cloud. We’ve worked with a lot of companies through the migration process, and we want to share some best practices we’ve picked up along the way. Let’s cover what you should consider when switching to NetSuite.
Distribution finance in entertainment is about quantifying and maximizing the value of opportunities. Sounds straightforward enough, but in a field so complex and fluid, it’s not always easy to stay ahead of the knowledge curve. Distribution deal-making can be a particularly thorny area, with even seemingly small decisions having dramatic effects on profits. How can content producers work with their distribution teams to build the most effective deals possible – and get buyers interested?
NetSuite’s flexibility and wide range of capabilities have contributed to its increasing popularity as an Enterprise Resource Planning (ERP) platform. If you’re interested in automating financial processes with NetSuite, but aren’t quite sure how to get started, here are a few big ideas to consider.
At the start of the year, we asked our team of financial consultants about common issues they see in financial offices across Los Angeles.
Get our new free infographic for their perspective.
Every industry has its own set of strategic finance challenges and nuances, but the field of entertainment can be particularly difficult to navigate. Money and reputations are unrelentingly on the line, and one bad strategic decision can devastate a studio, production house, or other enterprise. What is it about entertainment that makes this arena so demanding? In today’s post, we’ll explore strategic finance in entertainment and find out why skilled strategists are needed not just at the top of an organization but throughout its major divisions.
In corporate finance offices, growth inevitably reveals the limitations of the status quo. Perhaps you find you’re spending too much time reporting and not enough time analyzing. Maybe you and your office mates are tired of maintaining massive Excel files. Or maybe you just want to open a forecasting budget module without a 15-minute load time.
If you’re faced with those or similar frustrations, then the logical next step is to explore cloud-based EPM systems. In order to help your exploration, let’s take a look at some common fears and important considerations when thinking about moving to the cloud.
Many mature, privately held businesses receive third-party advice on how to structure or restructure their companies for improved salability. In fact, 8020 Consulting frequently works with privately held companies across a wide range of industries to help them achieve what we’d call “optimal readiness.” What we’ve discovered, however, is that there isn’t a strict set of guidelines or road map to ensure maximum value and a seamless transaction. Selling a privately held business comes down to following good business practices, appropriate planning and diligent execution.
Benchmarking data and proper analysis hold the keys to making informed, profitable decisions in the entertainment industry. Greenlighting a project with inaccurate data and/or shaky assumptions could spell disaster for a small entertainment company or a black mark for a larger one. Let’s explore benchmarking best practices and the roles and responsibilities of various departments in ensuring a studio uses the right data set at the right time.
In the spirit of the holidays, the 8020 Consulting team came together for the second season to sponsor post 9/11 wounded and disabled veterans and their families in the Los Angeles area through a fantastic organization, Soldier’s Angels. As a group, the company supported 4 families and 12 children with gifts of their choosing, including toys and clothing as well as gift certificates for use in purchasing a nice holiday meal.
In Part 1 of this blog post, we asked 8020 consultant Yan Pronin to help us take a broad look at financial modeling, an analytic tool that more and more businesses are utilizing to project future performance. Today, we’ll continue our conversation and dig deeper to discuss financial modeling best practices that support the creation of elegant and effective models – those that are smartly constructed, streamlined, and easy to follow. Informed by these models, CFOs and other business leaders can gain competitive advantages that help them power their companies confidently forward.