Why Wipfli?
Wipfli has a deep history of providing outsourcing solutions and retail industry experience. We tailor our services to retailers’ unique needs, helping you quickly address the challenges you face today and apply best practices to build long-term success. We also document, evaluate and analyze your internal processes to help with future transitions.
Our outsourcing services for retail include:
Streamline your financial management, improve processes and gain strategic insights into cash flow and profitability with Wipfli’s outsourced accounting for retail companies. We provide you with an experienced, scalable team to cover critical financial functions so that you can focus on customers and growth.
Wipfli’s outsourced technology services help retailers navigate complex tech landscapes and maintain consistent performance. Our experienced team assesses your technology infrastructure and provides tailored strategies and solutions to meet retail-specific challenges.
Wipfli’s retail operations outsourcing helps you execute strategy for critical areas of your business, from cutting costs to optimizing pricing. Our COO services help you define and drive strategy, and our operational consulting team can help you deploy the right tactics to achieve your objectives.
Wipfli offers outsourced HR support that focuses on helping you streamline processes and apply effective HR strategies. With support for operations, strategy, payroll and benefits, we can help you mitigate risk while advancing your desired culture.
Avoid the complexity and cost of finding high-level talent with Wipfli’s outsourced C-suite services. Our fractional executives bring extensive experience in finance, technology, people and operations, all adapted to your business.
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ARTICLE
Capital allocation strategy: A guide to help CFOs establish funding priorities
For many businesses, capital allocation strategy is no longer just about where the organization wants to grow. It’s increasingly about whether the business has the cash flow visibility, operational readiness and execution capacity required to support growth effectively. That shift is changing how finance leaders approach capital allocation planning, investment sequencing and long-term financial performance heading into the next fiscal year. Keep reading to learn more. What is capital allocation strategy? Capital allocation strategy is the process of deciding how to best deploy your business’s financial resources to achieve growth and profitability. This involves reviewing your business’s strategic goals and deciding when and where to spend money to achieve them. Capital allocation strategy is led at the C-suite level, often with input from the board. CEOs, CFOs and other top executives are typically part of capital allocation conversations. Why does capital allocation strategy matter? Capital allocation strategy matters because effectively deploying your business’s financial resources is essential to growth and profitability. Even the most successful businesses can’t afford to burn through capital aimlessly, so implementing a focused capital strategy that aligns with your strategic goals helps ensure that your spending drives those goals forward. Capital allocation strategy is changing as decisions become more operationally connected In many organizations, challenges or pressures first appear operationally long before financial reporting clearly reflects the issue. In response, leaders are taking a more adaptive, flexible approach to allocating capital. Finance leaders are now basing capital allocation on a broader set of criteria Historically, capital allocation processes often focused heavily on projected return, growth potential and budget availability. Today, finance leaders are evaluating a broader set of operational and financial questions that help determine whether investments can realistically deliver long-term ROI. Does this investment strengthen the organization’s core business strengths or competitive position? Will this investment improve operational efficiency or execution capacity? Will it reduce friction or introduce additional complexity? Does the organization have the capacity to support implementation successfully? Will it improve measurable financial outcomes such as EBITDA, cash flow or margin performance? Does leadership have sufficient visibility to evaluate performance and ROI effectively? Why CFOs are prioritizing visibility, scalability and cash flow management In many organizations, growth initiatives expanded faster than the surrounding processes, capacity, reporting structures and operational workflows could mature around them. Over time, that creates fragmented reporting, inconsistent visibility and growing execution pressure across finance and operations teams. As a result, CFOs are placing greater emphasis on capital allocation planning tied directly to: Working capital visibility Forecasting accuracy Operational scalability (link to strategy and operations consulting) Cash flow management Margin improvement Technology utilization Workforce flexibility Measurable EBITDA levers That shift is making capital allocation strategy far more operationally integrated than in previous planning cycles. Why leaders should reevaluate spending that creates drag Many organizations are reevaluating investments that increase activity without improving visibility, decision-making or long-term operational performance. Here are key actions: Reassess certain expenditures that may be unnecessary Consider whether all your current expenditures are still necessary. We frequently see leadership teams reassessing: Underutilized technology platforms Duplicate systems and vendors Manual reporting processes Initiatives with unclear ownership Investments that expand staffing pressure without improving scalability Programs that continue simply because they already exist Individually, these issues may appear manageable. Collectively, they create operational drag and bottlenecks that limit flexibility and consume leadership attention. Ask hard questions to determine whether spending is necessary Overcoming operational drag is one reason capital allocation strategy conversations are increasingly tied to operational efficiency and performance improvement efforts across the organization. In pursuit of that effort, finance leaders are asking harder questions about: Where investment should continue When to continue investing — and when to divest, consolidate or exit Which initiatives should pause or be moved to long-term Where outside expertise may improve flexibility Which operational burdens can be outsourced Consider whether some finance infrastructure may be unnecessary Many organizations are also reevaluating whether existing finance infrastructure is creating unnecessary complexity. In some cases, disparate systems and inconsistent reporting environments make it difficult for leadership teams to evaluate performance confidently or prioritize investments effectively. That’s driving increased focus on forecasting visibility, reporting modernization and financial planning and analysis capabilities that improve decision-making across the business. Visibility is becoming more valuable than speed Many leadership teams still want to move quickly. But increasingly, CFOs are recognizing that accelerating decisions without improving visibility often creates more operational strain later. And many leadership teams are recognizing that faster decisions are not helpful if the underlying reporting environment is inconsistent or difficult to trust. That’s driving greater investment in: Financial planning and analysis Forecasting and reporting modernization Scenario planning capabilities Cash flow visibility ERP optimization Working capital management Operational reporting consistency Without strong visibility, organizations often struggle to identify: Where cash flow pressure may already be building Which initiatives are improving financial performance Where profitability trends may be deteriorating Which investments should accelerate Which initiatives should pause or consolidate And where operational bottlenecks may limit future growth This is especially important as organizations face increasing pressure to justify capital allocation decisions with measurable operational and financial outcomes. Selective investment is replacing broad expansion Many organizations are still investing confidently. But increasingly, leaders are prioritizing investments tied to measurable operational value, stronger forecasting visibility and improved execution capacity. Key CFO capital allocation priorities We continue to see organizations prioritize: Automation tied to measurable efficiency gains Strategic outsourcing to increase scalability Financial visibility and forecasting improvements Working capital optimization Margin improvement initiatives Tax strategies that improve after-tax performance Selective modernization with clear operational outcomes Targeted acquisitions aligned to execution capacity Where CFOs are reining in spending At the same time, many are slowing or reevaluating initiatives that: Add operational complexity without improving visibility Require significant organizational change without clear ownership Create unclear or difficult-to-measure returns Expand strain across already overloaded teams That shift reflects a broader evolution in how finance leaders approach capital allocation and long-term planning. Growth remains a priority. But increasingly, leadership teams are evaluating whether the organization can realistically absorb additional complexity before accelerating investment further. Why an effective capital allocation strategy requires operational clarity The strongest capital allocation strategies are no longer driven solely by projected growth opportunities. They are increasingly shaped by cash flow visibility, operational readiness and execution capacity across the business. That’s changing how leadership teams approach: Investment prioritization Financial scenario planning Working capital management EBITDA improvement Technology modernization Workforce planning Long-term operational scalability Organizations navigating this environment most effectively are not necessarily the ones moving the fastest. They are the ones creating the clearest connection between financial performance, operational execution and long-term value creation. Capital allocation best practices As you develop your capital allocation strategy, keep certain best practices in mind. These include: Balance growth and operational capability: Capital should drive growth but be sure to invest in the operational infrastructure needed to support that growth as well. Reevaluate existing spending: Consider whether your current investments still align with or support your strategic goals. Prioritize visibility: Financial and operational visibility is essential to determining whether your investments are paying off or should be reconsidered. Avoid unnecessary complexity: Unfocused or unnecessarily complex systems, processes or initiatives create drag on your business as a whole. Read more AI ROI: How to get more business value from your AI spending When to hire a fractional CFO: Key signs your business is ready for strategic financial leadership Strategic management vs. strategic planning: a short guide
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Scenario planning isn’t optional: How to stress-test your capital strategy
Mid-market leaders are facing a difficult reality: Operational conditions are changing faster than many organizations can reevaluate their assumptions. Growth plans built on static assumptions are becoming harder to sustain as economic conditions, operational pressures and execution demands continue shifting. That’s making scenario planning increasingly important for capital allocation strategy, operational readiness and long-term financial planning. At Wipfli, we’re seeing many leaders shift away from static annual planning models toward more flexible decision-making frameworks that connect finance, operations and long-term planning more directly. The goal is not building endless hypothetical models. It’s helping leadership teams identify trigger points, pressure-test assumptions and respond more confidently as conditions evolve. Strong organizations are not trying to predict the future perfectly. They are preparing leadership teams to make faster, more disciplined decisions under multiple possible conditions. Strong leadership teams are pressure-testing assumptions Assumptions established during annual planning continue driving decisions months later — even as operational realities, market conditions and enterprise risks continue shifting underneath them. That means leadership teams often wait too long to reevaluate: Margin assumptions and historical performance trends Hiring plans and staffing capacity Operational dependencies and key supplier risks Customer segment demand forecasts Implementation timelines Liquidity pressure Operational dependencies Enterprise risk exposure And many leadership teams are still operating from assumptions established months earlier — even as operational conditions continue shifting around them. The organizations adapting most effectively are reevaluating assumptions earlier and more frequently before conditions force reactive decisions. Common scenario planning questions Leadership teams are increasingly asking: What happens if implementation takes longer than expected? What if hiring slows unexpectedly? What if customer demand accelerates faster than operational capacity? What if margins tighten during expansion? Which investments remain critical under multiple future conditions? This shift allows organizations to improve investment sequencing, reduce operational strain and strengthen long-term financial flexibility before pressure builds. Scenario planning is becoming more operationally connected Scenario planning is no longer just a finance exercise. In many organizations, operational pressure appears long before financial forecasts clearly reflect the issue. At the same time, leadership teams are also navigating changing economic conditions, inflation pressure, supply chain disruption and shifting customer demand forecasts. That’s why leadership teams are increasingly evaluating: Staffing capacity Execution readiness Technology scalability Operational bottlenecks Vendor dependencies Forecasting visibility Cash flow forecasting confidence Working capital visibility EBITDA sensitivity Reporting consistency At Wipfli, we frequently work with clients who discover that operational friction appears long before financial reporting reflects the impact clearly. For example: Manufacturers may see production scheduling strain before margin pressure becomes fully visible. Healthcare and senior living organizations may experience staffing pressure long before financial forecasts reflect operational risk. Construction firms may encounter project delays or resource bottlenecks before leadership recognizes scalability limitations. Finance teams may already be relying heavily on manual reporting workarounds before forecasting accuracy weakens visibly. Strong scenario planning helps organizations identify these operational pressures earlier — before they begin slowing execution, limiting flexibility or impacting long-term financial performance. Strong scenario planning helps organizations identify these operational pressures earlier. Strong scenario planning improves capital allocation strategy Strong capital allocation strategy requires more than evaluating potential return. It requires understanding whether the organization can realistically absorb additional operational demand and complexity. That’s especially important for mid-market organizations operating with: Leaner teams Constrained implementation capacity Limited operational redundancy Increasing pressure to improve efficiency and EBITDA performance The best organizations are becoming more disciplined about evaluating: Which investments remain essential under multiple conditions Which initiatives can pause safely if priorities shift Which operational dependencies create execution risk Where liquidity pressure may emerge Which investments improve long-term scalability and flexibility Strong executive teams are increasingly prioritizing investments that: Improve visibility Strengthen forecasting Reduce operational drag Improve financial flexibility Support faster decision-making Create measurable operational value That’s why scenario planning is increasingly becoming less about predicting outcomes and more about improving organizational adaptability. Disciplined organizations define trigger points before conditions shift Many leadership teams become reactive because decision thresholds, investment priorities and contingency actions were never clearly defined upfront. As conditions change, organizations often lose valuable time trying to determine: Which investments remain critical Which operational costs are flexible Which initiatives should pause Which risks require immediate response Defining trigger points before pressure builds helps organizations respond more intentionally and avoid reactive decision-making under stress. Common trigger points organizations monitor Examples of common trigger points in various industries may include: Margin thresholds in manufacturing organizations facing rising material, supply chain or labor costs Occupancy and staffing pressure in healthcare and senior living organizations Liquidity targets at financial institutions tied to lending activity, deposit pressure or acquisition planning Forecast variance across multilocation retail, hospitality or franchise operations Hiring slowdowns in construction and engineering firms dependent on specialized or difficult-to-fill roles Delayed implementation milestones tied to ERP, automation or modernization initiatives in distribution and manufacturing environments Guest demand fluctuations, regulatory changes or cash flow pressure in tribal gaming organizations Operational bottlenecks in professional services firms that begin limiting scalability, client responsiveness or execution capacity Organizations that plan this way tend to respond faster and more calmly because leadership teams have already discussed operational tradeoffs, investment priorities and contingency actions before conditions shift unexpectedly. Scenario planning is becoming a competitive advantage Organizations navigating uncertainty most effectively are not necessarily the ones with the most aggressive growth strategies. They are often the ones with: Stronger operational visibility Better forecasting capabilities Clearer alignment between finance and operations More disciplined investment sequencing Greater operational flexibility Stronger execution readiness Effective scenario planning often separates organizations that adapt quickly from organizations that remain stuck reacting to operational pressure after it has already been built. Strong scenario planning often surfaces: Hidden operational dependencies Implementation strain Visibility gaps Staffing risks Scalability limitations Fragmented reporting environments In many organizations, these pressures already exist. Scenario planning simply helps leadership teams identify them earlier and respond more intentionally. How to get started with scenario planning? Organizations do not need dozens of complex forecasting models to improve scenario planning. In many cases, the most valuable starting point is identifying the operational assumptions leadership teams may no longer be actively reevaluating. That often includes: Staffing capacity Margin expectations Implementation timelines Customer demand assumptions Liquidity needs Operational dependencies Technology scalability Investment sequencing Strong scenario planning also requires leadership teams to define trigger points before conditions change. That may include: Margin thresholds Capacity limits Hiring slowdowns Forecast variance Liquidity targets Delayed implementation milestones The goal is not to predict every possible outcome perfectly. It is forecasting confidence, improving organizational flexibility, decision-making speed and operational readiness under multiple possible conditions. Strong scenario planning also benefits from having an external advisor help facilitate conversations across leadership teams. In many organizations, departments naturally focus on the operational pressures closest to them. Finance leaders may prioritize liquidity and forecasting visibility, while operations teams focus on execution capacity, staffing constraints or implementation timelines. An experienced external perspective can help leadership teams apply more credible challenge to assumptions, scenario planning discussions and operational risks that may be difficult to evaluate internally. Pressure-test assumptions more objectively Surface operational dependencies earlier Align priorities across departments Identify blind spots that may be difficult to recognize internally Keep planning discussions focused on long-term business outcomes instead of siloed operational concerns This often helps organizations move from reactive planning discussions toward more connected, operationally grounded decision-making. How Wipfli helps strengthen scenario planning and capital strategy Explore how Wipfli’s pragmatic financial performance solutions help organizations improve forecasting visibility, strengthen operational scalability and support more disciplined investment decisions. Our performance management team also guides leaders through scenario planning and operational improvements . Download our executive guide to making confident growth decisions in changing conditions for additional frameworks and planning tools.
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Is hiring a vCISO the most cost-effective way for financial institutions to mitigate cybersecurity risks?
While financial institutions have long needed to guard against cybersecurity threats, today’s threat environment grows ever more complex. AI has created a wave of new dangers — not just in the hands of attackers, but also when used by your own team — while longstanding risks like phishing scams, ransomware attacks and third-party data breaches remain present. To protect themselves from this web of cybersecurity challenges, more financial institutions are turning to a fractional or virtual chief information security officer (vCISO) as a more cost-effective alternative to a full-time CISO. Could this make sense for your institution as well? Keep reading to learn more. Financial institutions must mitigate cybersecurity risks like phishing, third-party data breaches and AI Financial institutions must manage cybersecurity risks stemming from both external attackers and internal mistakes. Key risk areas include: Business email compromise: During this type of attack, often called a phishing scam, an attacker will attempt to gain unauthorized access to your systems via fraudulent email messages. Ransomware attack: Business email compromise can sometimes lead to a ransomware attack, during which a hacker is able to block you from accessing your core systems or critical data until you pay a ransom. Business continuity disaster recovery: As financial institutions increasingly transition onto cloud-based systems, many have not yet adapted their disaster recovery strategies to adjust to this change. AI risks: Some of the biggest AI-related risks are actually about how your own team uses it , like poor governance or shadow AI use that can lead to your private data being fed into public AI models, with unpredictable consequences. Also watch for SaaS vendors who add AI features into platforms you already use before your IT team can vet them for operational or security risks. Third-party data risks: A data breach at one of your software or IT vendors can expose any data you shared with that vendor — even if your own security remains fully intact. Financial institutions are more likely to suffer from this kind of data breach than experience a successful direct cyberattack. Managing these risks in a proactive, strategic way is beyond the purview of your regular IT team. That’s why some institutions hire a CISO. How does a vCISO help you defend your financial institution from cyberthreats? A vCISO is a C-suite-level fractional executive who leads your cybersecurity and cyber risk management efforts. Your vCISO’s primary responsibility is to mitigate your everyday and strategic risks in areas like data security, technology and AI, while also serving as a bridge between your IT team and your other executives. Look to a vCISO to: Bolster your cybersecurity: A vCISO takes the lead on cybersecurity inside your C-suite. vCISO responsibilities include assessing your current defenses, finding gaps and implementing an up-to-date cybersecurity strategy. Lead AI governance and security efforts: Your vCISO will also take charge of your AI governance and security policies. Good AI governance can help ward off shadow AI risks , reducing the chance that team members unthinkingly share your business or customer data with unauthorized or public AI systems. Manage third-party data security risks: A skilled vCISO will also know how to map out your third-party data risks and assess whether your vendors are taking sufficient steps to secure the data you share with them. Bridge the gap between C-suite and IT: A vCISO serves as a crucial conduit between your executive offices and your frontline IT team, able to speak the language of both groups and advocate for the latter before the former. Now, if a vCISO is such an asset, shouldn’t you just hire a full-time CISO instead? Not always. Why should your financial institution hire a vCISO rather than a full-time CISO? If your financial institution wants stronger cybersecurity but doesn’t have the need (or budget) for a full-time CISO, a vCISO or fractional CISO can deliver the same level of insight, experience and strategic capability for a fraction of the cost. Onboarding a vCISO can also give you a broader perspective on how the financial services industry as a whole is tackling cybersecurity. Key benefits to hiring a vCISO include: Cost-effective security leadership Unless you actually need 40+ hours a week of strategic cybersecurity leadership — and most financial institutions don’t — it may not make sense to pay a mid-six-figure salary plus benefits to a full-time CISO. A vCISO typically costs dramatically less than a full-time hire, while providing the level of support your business requires. Scalable support You can hire a vCISO for two hours a week, or 20. If you’re growing your business, your vCISO support can grow along with it, and you can also choose to engage a vCISO on a per-project or time-limited basis. A vCISO can also go back and forth between providing strategic leadership and taking charge of implementing or executing on individual projects. Regulatory goodwill Financial regulators no longer want to see one IT director managing both your IT and cybersecurity. Hiring a vCISO eliminates this problem and also keeps most cybersecurity matters off your CFO’s or COO’s plate. (Some forward-thinking institutions are doubling down on this approach by hiring a full-time CIO to implement their overall technology strategy and working with a vCISO to manage cybersecurity.) Broad industry awareness An experienced vCISO will typically have worked with dozens of financial institutions. You’ll gain access to that big-picture awareness — which can’t be matched by someone who has worked only as an in-house CISO — to better understand how the financial services industry as a whole is solving cybersecurity challenges. Coaching and leadership development If you have promising in-house IT staff who want more responsibility but lack the strategic skills to take on a CISO role themselves, a vCISO can help prepare them to move up. This allows you to shore up your cybersecurity now while also creating a path forward for your top talent. What is the process for hiring a vCISO? Hiring a vCISO should be a relatively straightforward process. There are three major steps: 1. Find a cybersecurity and risk management advisory firm. 2. Assess your specific needs and develop a cybersecurity roadmap. 3. Onboard a vCISO (typically provided by the advisory firm) to oversee implementing your roadmap. As you consider which cybersecurity advisory firm to hire, make sure that you’ll only be paying for the level of vCISO service that you actually need. Don’t get locked into 15 hours a week of vCISO support if you only need five. Read more Minus a data strategy, financial institutions will fail at AI Financial institutions must be more proactive about general ledger certification Can traditional banking avoid losing Gen Z to fintech?
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