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Mom-and-pop businesses have a mindset that if they are able to manage the books, then they are good. But to build a scalable business, you need to implement the FP&A process sooner rather than later. The FP&A process can help with the forward-looking statements and planning the cash flow. It might also help identify the red flags from the perspective of an investor, whether you want to raise capital, acquire a leveraged company, or sell the company.

In today's episode, our guest, Chris Reilly, discusses how to start the FP&A process. He also describes other concepts, such as why businesses need to be on three-statement models before they can start on their FP&A journey. Finally, he discusses several other concepts, such as Leveraged buyouts, the importance of seller discretionary income, and the red flags that investors look for in an FP&A model.

For more information on growth strategies for SMBs using ERP and digital transformation, visit our community at wbs.rocks or elevatiq.com. To ensure that you never miss an episode of the WBS podcast, subscribe on your favorite podcasting platform.