Centralized Financial Planning for Leading Daycare Provider
A leading for-profit provider of daycare services, early childhood education and after school programs for children across North America, the organization employs over 33,000 employees, who help children develop life-long learning skills and guide parents as they make pivotal decisions about their children’s early education.
The sheer complexity and volume of data required for the organization’s financial planning and forecasting processes is immense. The organization had been executing most of its financial planning with Microsoft Excel as part of a time-consuming and complex process that caused headaches for the corporate leadership team and often failed to provide a full financial picture across all of its locations. The process was slow, requiring manual updates and consolidation by the central finance team. Financial reports were frequently delayed or contained out-of-date data due to difficulty with collaboration. This left the financial planning process siloed within the corporate finance team and left the company’s individual learning centers unable to fully participate in the staffing and financial planning process.
PK developed a central connected planning platform for the organization that links data and planning across all business functions and enables collaboration between its corporate departments and learning centers. The solution, which is available anywhere from any licensed device, eliminated the error-prone, labor-intensive Excel planning and consolidation process and enabled real-time financial planning. This increased productivity on the finance team and allowed the learning center employees to have more input into the finance and staffing-level planning process while increasing the time available to manage their own locations. The central planning platform consolidated the budgeting process and enabled collaborative decision-making, empowering the organization’s leadership team to make smarter decisions with improved insights.