New book examines profitability analytics

A recently released book explains a framework for improving a company's profitability. 

The book, "Unleashing the Power of Profitability Analytics," is written by Raef Lawson, executive director of the Profitability Analytics Center of Excellence and former vice president of research and policy at the Institute of Management Accountants. The book describes PACE's Profitability Analytics Framework, emphasizing the need for managers to holistically consider revenue management, managerial costing and investment management.

"The Framework emphasizes the need to focus on principles rather than specific methodologies. It also emphasizes the need to understand cause-and-effect relationships within an organization for planning and management purposes, and the need to consider economic substance rather than external reporting requirements when preparing information used for internal decision making," said Lawson. "By employing the principles described in this book, and as illustrated in the case studies, companies can gain a clear understanding of what they need to do to enhance their profitability and enhance organizational value."

This book includes tools, real-life case studies and insights to help organizations develop data-driven strategies; improve cost and revenue management for profitability; align operational and financial models for decision-making; and incorporate sustainability and customer profitability into long-term planning.