When a static, cumbersome planning environment kept P.F. Chang’s executives from fully understanding their margins and cost structures, the acclaimed restaurant business cooked up a complete FP&A transformation with the Adaptive Suite. Now the global business has extended budgeting, planning, and forecasting to individual restaurant operators, for the first time putting every restaurant in sync with corporate finance and infusing board reports with always-current, real-world data and insights.
- Decision-makers lacked a single source of truth and meaningful insights into costs
- Board members and equity parent stakeholders wanted more detail than current systems could provide
- Crucial KPIs were hard to measure accurately, making it difficult to bring margins in line with industry peers
- Forecasting cycle times have dropped 80%
- More than 400 individual restaurant operating partners maintain, manage, and report their own P&Ls
- Planning models now incorporate both finance and operational KPIs