Page 17 - Fall 2024 EDM Today

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financial literacy and its role in strategic business decisions

As AMBA considers these factors and its strategic initi ati ves in the coming months, its focus has shift ed to
helping its members understand the role that fi nancial metrics play in both forecasti ng and profi tability. To
bett er connect members with both resource and knowledge in this area,
AMBA is leveraging partner relati onships, like the ones it has with Wipfl i,
Michigan CFO Associates and other organizati ons. Through its “Financial
mold builder
Literacy” webinar series and other related resources, members are able OPPORTUNITIES
PERSPECTIVE
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to parti cipate in a series of virtual webinars and meeti ngs that explore
how fi nancial metrics can impact implementati on of successful business
strategy and lead to an improved bott om line and related resources.
Resources, like ITR’s
Michigan CFO Associates (whose virtual CFOs specialize in helping small
Market Forecast
business across the U.S. with reporti ng, forecasti ng, cash planning and
Reports, provides US
fi nacial leadership), is working alongside AMBA to develop several of these
planned meeti ngs, and kicked off its fi rst session in September. Titled
“Building a Budget to Drive Performance,” this meeti ng guided AMBA
tools that drive our
members on how constructi ng an eff ecti ve budget and defi ning (and invaluable forecasting
planning process and
EDM Today Magazine
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targeti ng) a specifi c profi tability percentage can help drive decisions and
marketing direction.
year-long results, as well as build company-wide accountability.
would be flying blind."
The series will conti nue in the coming months, focusing on topics such as
managing cash fl ow, exit planning considerati ons, understanding fi nancial
-TROY ROBERTS, CEO,
statements and more. Details can be found at AMBA.org/Events.
TOLERANCE TOOL, LLC
AMBA PLANS FOR MEMBERS-ONLY Profitability Portal

To further enhance off erings like its Financial Literacy Series, AMBA is
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working alongside members and other industry partners to share best
practi ces and strategic business decisions through its newest off ering: the
AMBA Member Profi tability Portal. On this page, executi ves, management
AMBA offers
teams and fi nancial professionals will be able to access recordings (like
those from its Financial Literacy series), case studies, best-practi ce
MEMBERS INSIGHT
discussions and more.
INTO FINANCIAL
PROFITABILTY, WORKFORCE AND BUSINESS STRATEGIES HIGHLIGHTED AT
AMBA CONFERENCE 2025 - BREAKTHROUGH INNOVATION BEST PRACTICES
AND PROFITABILITY
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OPPORTUNITIES TO
AMBA has already begun planning for AMBA Conference 2025 -
Breakthrough Innovati on, May 7-9, Grand Rapids, MI. Keynotes and
breakouts will highlight the strategic business decisions owners and
decisions and
executi ves are making to improve profi tability, att ract and retain
employees, manage economic conditi ons and forecast business
GROWTH.
oportuniti es. Stay up-to-date on programming and event details at
ambaconference.com.

This arti cle was compiled by the American Mold Builders Associati on (AMBA) and is AMBA.ORG
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based on the Associati on’s benchmarking eff orts, industry perspecti ves provided by
AMBA executi ves and industry-related learning opportuniti es.

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EDM Today, Fall 2024 Issue