Why Your FP&A Team Needs a Single Planning Platform – SPONSOR CONTENT FROM WORKDAY

When the pandemic hit in March 2020, Chuy’s, a Texas-based chain that owns and operates more than 90 Tex-Mex restaurants in 17 states, found itself facing the same uncertainties as every other business in its sector. Off-premises sales surged. Dine-in sales plummeted. Long-range plans went out the window.

Yet unlike many of its competitors, Chuy’s thrived. During the third quarter of 2021, the chain increased its overall restaurant level operating margin by 8.8%.

The steps Chuy’s had taken prior to the pandemic helped it respond quickly and effectively to rapid change. Most importantly, the company had implemented cloud-based, automated tools for adaptive planning that helped its financial planning and analysis (FP&A) teams optimize budgeting and improve decision making as they responded to the pandemic and a constantly changing business environment.

One Platform to Rule Them All

In times of market uncertainty, agility is…

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This article was written by and originally published on hbr.org