Ramp Up A Paro FP&A — A Timeline
by Michelle Wang, on Sep 24, 2018
Are you ready to work with a financial planning and analysis (FP&A) professional from Paro? You and your business have come on board because of our vision for the future of work and the quality of our professionals are among the very best in the industry. You know that our vetting process—including a skills assessment, interview, test project, and reference check—whittles down our applicant pool to all but the top 2 percent of all applicants.
And yet, you still have hesitations: you’re concerned that the ramp-up process for a Paro FP&A professional might be time-consuming and burdensome, and that you won’t be able to keep tabs on their performance because they’re not working onsite.
There’s nothing to be afraid of! Ramping up a Paro FP&A professional should be quick and painless, especially since so much of the process is automated. In fact, you might learn to love that your financial needs are being handled by someone who isn’t taking up so much of your time precisely because they aren’t on-site.
1. Information Download
Once you have become a Paro client, you will first be asked to supply basic financial information about your company to one of our professionals, who has been matched to your needs by his or her expertise. A successful information download usually is all that is needed for a successful project launch on the FP&A side; the best way to do this is to schedule a kick-off call so that your FP&A can ask you all questions they need to know about your business in order to build you what you need. If they feel they don’t need a call, they will probably ask for the following information to begin their duties.
Items they might ask for include:
- Excel financials or access to your financial database
- An agreement on a timeline, depending on how many hours you allocated to this resource
- Other project-related resources
The only potential bottleneck at this stage is if the expert fails to access to all requested items in a timely manner. Otherwise, your FP&A is usually free to get started on their own with virtually no ramp-up time at all.
2. Creating a Draft Model
Once off and running with all the necessary information downloaded, the Paro professional will immediately get to work creating the models requested. Typically, they will need at least a week to produce a first draft. Once they have absorbed and dissected the information presented in your company’s financial files, your FP&A will complete this stage of the work and hand over a first draft of the model.
3. Provide Feedback Until Satisfied
This is a very important stage of the process—you need to give timely feedback on the first draft of the model: Is this what you requested? Do you want more? Less? Feedback at this stage allows the FP&A to focus more effectively on what you are looking for, and to quickly ramp up the revision stage to be more aligned with your needs.
During the feedback stage(s) of the project, you and the finance professional will discuss drafts until you are satisfied with the models that work. Beyond that, Paro FP&As are extremely hands-off and capable of doing the work remotely and easily, without burdening youwith unnecessary distractions or interruptions.
And that is the great benefit of working with Paro FP&A professionals. Not only are they at the top of the talent ladder, they are also skilled and experienced enough to leave you alone throughout most of the process— which leaves more of your time free to spend on growing your business, leading and inspiring your onsite team, and tackling projects that give you the greatest personal satisfaction.