Blogs

Why do I need a PCM Center of Excellence in my organization?

By Pedro San Martin posted 11 days ago
Why is a Profitability and Cost Management (PCM) Center of Excellence necessary for my organization? A PCM Center of Excellence (CoE) is a strategic initiative to centralize, optimize, and standardize the organization’s approach to understanding, analyzing, and enhancing financial performance. It focuses on providing comprehensive insights into revenue, costs, and investments, ultimately improving the organization's overall profitability. The PCM Center of Excellence is a centralized knowledge repository that captures and disseminates critical insights across the organization. Key best practices may include: Eliminating manual cost allocation and profitability ...

Maximize Your IMA Membership in 2025

By Trent Kramer posted 14 days ago
Ready to supercharge your 2025? Here's your quick guide to making the most of your membership – including exciting NEW benefits: Connect with peers and experts through our global digital Shared Interest Groups Enjoy new micro learning courses for quick, free, on-demand professional development Access curated job listings and career resources through our enhanced Career Center Discover AI’s transformative potential ...

January Member Spotlight

By Corbin Lynn posted 18 days ago
🌟 Member Spotlight: Charles R. Wright, MBA, CPA, CMA, CFF, CGMA, CIRA 🌟 Charles R. Wright is a seasoned financial and operational leader with a career spanning over 40 years. A former CFO and Treasurer for the Denver Zoo, he revamped reporting systems, implemented innovative budgeting approaches, and championed a lean management program to enhance efficiency. Prior to this, he served as Senior Vice President of Finance and Administration at Mile High United Way, where he oversaw financial planning, grant management, and led a record-breaking fundraising campaign. Charles started his career with a decade as a partner at Ernst & Young, leading ...

ÂżCĂłmo ha evolucionado el rol del contador de gestiĂłn en el mundo empresarial moderno?

By Pedro San Martin posted 21 days ago
En este blog, exploro la evolución fundamental de la contabilidad de gestión, desde su enfoque tradicional hasta su rol estratégico en el entorno empresarial contemporáneo. A través del análisis de avances tecnológicos, los efectos de la globalización y las complejidades del negocio moderno, respaldado por evidencia empírica y estudios de caso tanto globales como latinoamericanos, demuestro cómo esta disciplina ha pasado de ser un soporte financiero a convertirse en un socio estratégico. A continuació muestro como se integran las perspectivas regionales y datos empíricos para brindar una visión integral de esta transformación. La contabilidad de gestión ...

The Hidden Power of Stakeholder Analysis: Transforming EPM Implementation from Technical Exercise to Strategic Victory

By Pedro San Martin posted 24 days ago
Executive Summary Profitability analytics, as part of Enterprise Performance Management (EPM) implementations, frequently fail due to human factors rather than technical issues. This article introduces an improved framework for transforming EPM projects through strategic stakeholder analysis, supported by real-world case studies and actionable insights. Based on lessons learned from successful implementations, we explain how leading organizations incorporate advanced stakeholder engagement practices to achieve faster implementation times, higher user adoption rates, and sustainable business impact. The Human Factor in Digital Transformation ...

The Critical Role of Human Decision-Making in AI-Enhanced Profitability Management

By Pedro San Martin posted 30 days ago
The Critical Role of Human Decision-Making in AI-Enhanced Profitability Executive Summary While artificial intelligence offers robust cost optimization and revenue enhancement tools, it's crucial to remember that human judgment remains irreplaceable in strategic profitability management. This analysis underscores the unique value that human decision-makers bring to the table, particularly in navigating complex financial choices and leveraging AI capabilities to maximize organizational performance. The emergence of AI has generated significant enthusiasm for automating financial decision-making processes. However, the notion that AI alone ...

How I Learned to Build Trust While Reducing Costs

By Pedro San Martin posted 12-13-2024
Are you establishing trust while lowering costs? When I first faced the challenge of optimizing costs in an organization, I grappled with a pressing question: Can you truly build trust while cutting costs? At the heart of this dilemma lies a paradox. Cost-reduction initiatives often spark anxiety and distrust among employees, threatening the very fabric of organizational culture. However, I’ve realized that building trust and reducing costs are not mutually exclusive. When approached thoughtfully, they can create lasting value for everyone—employees, customers, and shareholders alike. The Problem with Traditional Cost-Cutting Many organizations focus ...

December Member Spotlight

By Corbin Lynn posted 12-10-2024
🌟 Member Spotlight: Austin Elsey, CMA, CFE, CRC, CSCA, MAFF, CDFA 🌟 Austin Elsey completed a Bachelor of Science at Missouri Southern State University with a major in finance. Being that Joplin, MO was not an investment banking hub, Mr. Elsey joined a local community bank to build some professional experience. After a semester hiatus, he decided to keep momentum going and pursue his MBA. Mr. Elsey enrolled with the University of Florida online, allowing him to complete that program in an accelerated format. He also has obtained certifications as a Certified Management Accountant, Certified Fraud Examiner, Credit Risk Certification, Certified in ...

Launching the Performance Management Shared Interest Group

By Hessel H. Brouwer posted 12-07-2024
We're excited to launch the Performance Management Shared Interest Group (SIG) with the Institute of Management Accountants. The SIG addresses the "Performance Management Problem": even with advances in management theory, behavioral science and technology, many organizations still struggle to implement strategy, waste a lot of time on planning and budgeting, and find it hard to course-correct when targets are not met. The SIGs mission is to provide business professionals with though leadership, a forum for exchange and best practices on performance management so they can act as experts to help improve the performance of their organizations. This will ...

Webinar Alert!!!: Why you matter in your workplace: Unlocking your full potential.

By Rohit Kumar Gupta posted 11-03-2024
Topic (Title of session): “Why you matter in your workplace: Unlocking your full potential” Speaker Name, Bio, and Picture: Nelly Suhel, CMA,CSCA,MBA Nelly is a seasoned Senior Financial Manager with over 12 years of experience in budgeting, forecasting, and strategic planning for large corporations, particularly in manufacturing. With expertise in financial modeling, root cause analysis, and data visualization tools like Tableau and Anaplan, she has a proven track record of driving profitability, enhancing operational efficiency, and integrating systems that streamline processes. Her collaborative leadership style has allowed her to build strong ...

November Member Spotlight

By Corbin Lynn posted 10-31-2024
🌟 Member Spotlight: Michael Trimble, CMA 🌟 We’re excited to highlight Michael Trimble, a Certified Management Accountant (CMA) with expertise in financial analysis, budgeting, and data analytics. Michael earned a Bachelor’s degree in Business Administration from Colorado State University, where he specialized in Investment Analysis and Financial Planning. Michael currently works with the National Cattlemen’s Beef Association, a nationally recognized industry group for ranchers and agriculturists. As a senior financial analyst, he uses Power BI to streamline through budget planning, P&L reporting, and data visualization. ...

October Member Spotlight

By Corbin Lynn posted 10-31-2024
🌟 Member Spotlight: Corbin Lynn, CPA, CMA 🌟 We're excited to highlight Corbin Lynn, a skilled and dedicated CPA and CMA, with a strong background in public accounting. Corbin is currently a Senior Tax Associate at CBIZ MHM, LLC, where he focuses on passthrough entities and high-net-worth individuals. He holds a Master of Accountancy in Taxation and a BS in Business Administration concentrated in Accounting from Colorado State University. He recently joined the Board of the Denver/Centennial IMA Chapter as our Director of Website. Corbin is also very involved in student outreach and recruiting at CBIZ. While at CSU he was ...

CMA Program - Best Offer of the Year

By Trent Kramer posted 10-24-2024
Greetings, Now through November 7th, the IMA is offering a 50% discount on the CMA Program Entrance Fee. Use promo code: 50FALL1 This is the biggest discount of the year and sets the stage for a great 2025 development opportunity. Earning the CMA boosts your salary potential and can open new doors. If you know what kind of role you aspire to attain, look at both the required and advanced qualifications. A professional credential or advanced education can go a long ways what is a 40+ year career. It is not to early or too late for adding more skills to your tool belt. Click here for more details.

IMA Announces Corporate Membership Plans

By Trent Kramer posted 10-13-2024
The IMA recently announced Corporate Membership plans. This offers similar benefits as the individual membership with group discounts available. The Corporate Membership is designed to enhance employees' skills, broaden their knowledge, and support their career growth by offering: Access to a diverse range of on-demand courses and training materials Participation in exclusive webinars and events Opportunities for networking through professional communities Tools for tracking progress and managing certifications More information is available here: https://enterprise.imaglobal.org/pages/pricing

IMA Student Leadership Conference 2024 (Nov 7-9 in Anaheim)

By Trent Kramer posted 09-27-2024
The Minneapolis Chapter is offering scholarships to assist students in attending the IMA Student Leadership Conference in 2024. Members of the Twin Cities Student Chapter at Metro State and Concordia are eligible. A handful of scholarships will be awarded to those expressing interest. Additional information including registration is available here: https://www.imastudentconference.org/event/3a7467d8-6dbf-4661-9714-c34197cd132e/websitePage:d040cd9b-8a1c-4c93-b1e9-7ee6dcdf6c0a

Management Accounting & The Blockchain

By Nathan Mavelil posted 09-11-2024
I'm beginning the process to learn and research more about how management accountants will pave the way to the future of building accounting systems on the blockchain. The blockchain technology is something I'm still struggling to understand and wrap my head around, and I think that my research findings will be useful to other accountants interested. I'm using this space to post my questions to ChatGPT and what was outputted as a resource thread around the topic of blockchain and management accounting. For my initial post, I would like to set a baseline what is the blockchain, benefits and the terminology used when referring to the system. Blockchain ...

Remembering Val Felske, CMA (former Minneapolis Chapter and Northern Lights Council leader)

By Trent Kramer posted 06-17-2024
Val Felske went to heaven earlier this month at the age of 73 following a short battle with pancreatic cancer. She served in a variety of leadership roles at the IMA including President of the Minneapolis Chapter, President of the Northern Lights Regional Council, National Vice President and was a member of the Stuart Cameron McLeod society. She earned her CMA back in 1991. Needless to say, she was a significant contributor to our IMA community and cared for by those who were fortunate enough to know her. The link to her obituary that was published in the local Star Tribune is below: https://www.startribune.com/obituaries/detail/0000491069/ ...

IMA Minneapolis Chapter Election Results 2024-2025

By Trent Kramer posted 05-18-2024
Here are the IMA Minneapolis Chapter election results: President – Lianne B. Loeks Munson, CMA, CSCA Vice President of Engagement – James Powers, CMA Vice President of Communications – Ashley Davis, CMA, CSCA, FPA Past President – Trent Kramer, CMA, CPA, CSCA Treasurer – Todd Stenson, CPA Director of Education – Andrew Galas, MBA Director of CMA & Student Engagement – David Franz, CMA Secretary – Willy Arevalo, CMA Chapter Delegate – Ryan Chase, CMA, CSCA Chapter Delegate – Warda James-Hester, CMA, CPA One year terms are effective July 1st through June 30th. Our new board will convene to make ...

IMA Minneapolis Chapter Elections & Board Opportunities

By Trent Kramer posted 03-24-2024
Greetings, Chapter elections will be done online in April. Keep an eye out for that communication. It will be a google poll again. There are some role transitions and new opportunities this upcoming year. If you are interested in exploring a board role, please reach out to minneapolis@imachapter.org. We have introductory positions all the way up to key contributors. Our board very much want to get back to our in-person events and have been pursuing knowledgeable speakers with relevant expertise. We'll continue to balance in virtual events as they offer an added level of convenience. Any referrals or suggestions are appreciated. Until then, I'd highly ...

IMA Student Leadership Conference (SLC23)

By Trent Kramer posted 12-05-2023
In mid-November, the IMA hosted its annual Student Leadership Conference (SLC23) in Detroit, Michigan. Our chapter provided scholarships to four soon-to-be Metro State grads who represented us. This included Sam Heaston who is the IMA Twin Cities Student Chapter President. Over the course of three days, attendees learn about the latest trends in the profession and real-life industry case studies and more while taking it all in with fellow peers. These annual events specifically catered to students are dubbed “Accelerate your journey from the classroom to the board room”. These are great networking opportunities and attracts employers ...