CFO Intelligence Magazine – Winter 2024
Talia griep
Benjamin Moore CFO
SARAH SPOJA HAS BEEN ON BOTH SIDES OF THE FUNDRAISING TABLE.
Benjamin Moore CFO Talia Griep and her team leverage deep data analytics to help the legacy brand hone its financial and operational decision-making, supporting the 140-year-old company’s leading position in the premium paint category. But Griep’s story isn’t just about technology it’s also about change management, and maintaining and advancing a corporate culture that embraces continuous improvement.
“Our company is unique in that our distribution channel has historically been and continues to primarily be independent retailers, who have an entrepreneurial outlook since they own their establishment,” notes Griep, who joined the Montvale, N.J.-based premium quality residential and commercial coatings manufacturer in 2013. “The company sees this as a selling point, noting that a local establishment is more likely to have staff that can answer customers’ questions about paint.”
COLLABORATION IS KEY
Griep adds that, in turn, Berkshire Hathaway-owned Benjamin Moore treats its vendors as “family,” working closely with retailers to ensure that their needs are being met. “Our corporate culture encourages collaboration, so we’re not simply focused on cramming more product onto retailers’ shelves,” according to Griep.
“I have a dedicated business consulting team that works with the independent retailers, so when a retailer advised us that they wanted to increase inventory turn, for example, one of our consultants helped them to review the store’s SKU-level activity and recommended changes to the portfolio.”
That’s where the analytics come in. “On a voluntary opt-in basis, some retail partners are sharing point-of-sale data with us, which helps Benjamin Moore to track trends in real time,” Griep says. “We supplement that kind of data with third-party research, including customized SurveyMonkey digital questionnaires that gather input on topics like customer satisfaction, paint color preferences and other trends.” The company also purchases third-party research that tracks such activity as housing and chemical industry trends.
These and other integrative activities are all part of an initiative to help embed the Finance function in multiple activities, as a way to further enhance Benjamin Moore’s operations. “We have really focused on transforming the way Finance operates within the organization with the intention to be even more collaborative, and get more information early on for business decision-making,” Griep notes.