Chosen Foods Modernized Its Financial Performance Management Processes with Planful

Like many fast-growing companies, Chosen Foods found that manual, spreadsheet-driven financial performance management processes threatened its ability to scale. However, once the company moved to Planful, the financial IQ of the entire organization rapidly increased.

Join Jim Mancuso, CFO and COO of Chosen Foods, at Planful Perform24, where he’ll share the company’s journey to go beyond expectations and help the business reach peak financial performance.

Register now for Perform24, which will take place May 14 – 16 in San Diego, California. Join us in person or stream the entire event from anywhere. Chosen Foods is one of the many Planful customers presenting alongside dozens of other finance and accounting practitioners, industry influencers, Planful product experts, and more.

Let’s learn more about Chosen Foods and their Planful financial performance management journey.

Chosen Foods was founded in 2011 to showcase the incredible benefits of avocado oil to the world. Today, it’s America’s number-one brand of this versatile oil, with products extending into mayos, dressings, and even chocolate hazelnut spread.

As the company quickly grew and expanded globally, its use of offline spreadsheets and multiple software tools started to impact its ability to scale.

“These problems were similar to what I’d seen at other organizations, and I knew we needed an FP&A solution,” said Jim.

Chosen Foods wanted more than just a typical financial performance management solution. Jim set out a list of requirements that included finding a solution provider that could act as a strategic partner, bring deep industry experience, and implement the solution quickly.

Jim also saw how frustrations within the finance team impacted the rest of the business. Taking a new approach to planning, budgeting, reporting, and other processes was a daunting undertaking, so Jim took the time to work with the business and explain:

• Why Chosen Foods needed to modernize financial performance management processes.
• Why Planful was the best choice for the company.
• The business justification to get buy-in from our C-suite, board, and the business.

“We know our business really well, along with being experts in finance, planning, and analytics,” said Jim. “It’s so great to work with a software provider like Planful that has that caliber of knowledge as well.”

Once Chosen Foods made its decision, the company’s complex financial performance management processes were running on Planful in just eight weeks, including Chosen Foods’ complex revenue model management.

“Now, I can see what could happen if we lose an account or have a material cost increase and how it could impact the business,” Jim added. “What used to take me days or weeks, we can do in a matter of hours, thanks to Planful.”

Planful gives Chosen Foods a platform for financial performance collaboration for the wider business. Stakeholders across teams can access financial insights and reports quickly and easily using Planful and can input data and forecasts so everyone has up-to-date information.

Register now for Perform24 to hear the full Chosen Foods story and engage with dozens of other industry experts and Planful customers and executives. Join us in San Diego or virtually on May 14 – 16.

You can also read our Chosen Foods customer story to learn more about the company’s Planful journey and Jim’s tips for those considering Planful.