廣州奧美財務(wù)培訓(xùn)(ppt)
廣州奧美財務(wù)培訓(xùn)
O&M Guangzhou Finance Training
Finance Training
Objectives of the training:-
K – Knowledge
How do we make money / lose money
What is the cost / profit standard
Industry
O&M
What can you do to help improve our
profitability

Finance Training
S – Skill
How do you know your client’s profitability - capacity plan, analysis of contribution margin
A – Attitude
We are businessman / businesswoman
Everyone has a role in helping the company
profitable
Finance discipline is part of our profession



The Business


Make Money for Today
Our business by its nature is Short-term
我們生意的特質(zhì)是相當(dāng)短期的

I’m not talking about brand building ...…rather how business decisions need to be made
這里指的不是品牌的建立，而是指在我們的營運(yùn)
中各種管理決策如何形成。
Make Money for Today
Clients come and go, reduce/cut budgets with little to
no notice
客戶來來去去，刪減預(yù)算的動作突如其來。
Billing cuts in the 4th qtr mean we are effectively
working for free
在第四季刪減預(yù)算意味著我們的工作是免費(fèi)的
We do not manufacture a product, our capital is
our people
我們并不制造產(chǎn)品，我們的資產(chǎn)就是人
Employees come and go ( high turn-over )
員工也是來來去去的
Make Money for Today
Constantly changing business landscape does not
allow us to accept under-performing operations
面對著如此大的變化，不獲利的營運(yùn)是無法被接受

Service businesses are expected to show consistent earnings growth.
服務(wù)性的公司必須要有持續(xù)獲利的成長

創(chuàng)業(yè)的精神
The Entrepreneurial Approach
Entrepreneurial Approach
If it was your business, you would not:
如果這是你的公司，你一定不會∶
be satisfied just getting by ... you want to make money!
因損益平衡而滿意，
Pay people to sit and wait for new revenues
讓你的員工坐著等新生意上門
negotiate contracts that were unprofitable
接受無法獲利的合約
Entrepreneurial Approach
invest in training employees who leave for better opportunities
投資於訓(xùn)練員工，他們卻離開去尋找更好的機(jī)會。
make long-term binding financial commitments
that are not supported by income …
做一些長期財務(wù)的承諾，而卻是沒有收入的支持。
provide services to the client which the client would
not pay for
免費(fèi)提供服務(wù)給客戶。




Running The Business
The Basics for Running this Business
Keep Overhead Low! 降低營運(yùn)成本
Negotiate flexibility
爭取彈性
Leverage price advantage where possible
運(yùn)用“量”的優(yōu)勢
Don’t build administrative empires
不要形成管理官僚系統(tǒng)










Accountability
會計責(zé)任

Accountability
MANAGEMENT ACCOUNTING is more important to management than Statutory accounting?
對管理者而言，管理會計更重要
Improvement in the financial ratios requires a true understanding of how we are performing financially
on each client.
要在財務(wù)上有所改善，必須深入了解每一個客戶的獲利情況
You can’t expect an account person to be responsible with the office’s profit margin but
You can make him responsible for his acct.
業(yè)務(wù)人員對其經(jīng)營的客戶是否獲利有重要的責(zé)任

Accounting for Time 有關(guān)時間成本
The heart of Client Profitability
客戶獲利分析的核心
Must get all employees to recognize its importance
所有的員工必須認(rèn)知其重要性
Time reporting must be accurate and complete
日報表要完整及準(zhǔn)時
Accounting for Time 有關(guān)時間成本
Methods
Time Sheets 日報表的填寫
Time Allocations 工作時間的分配
Summarized Data is the key
資料匯總是關(guān)鍵
Make people accountable for time
大家必須對工作時間負(fù)責(zé)
Account Managers
業(yè)務(wù)經(jīng)理人
Dept Managers (Creative, Production,etc)
部門主管
Accounting for Costs 成本
Costs fall into Three Categories:
成本可分為三大類
Chargeable to Client 可向客戶收費(fèi)
Not Chargeable to Client 不可向客戶收費(fèi)
Overhead 營運(yùn)成本
Every $ we spend should be categorized in one of these buckets
花每一筆錢時，評估一下屬於哪一種成本
Chargeable to Client 可向客戶收費(fèi)的成本
Basically these are:
Direct Staff Costs
直接工作人員成本
Out of Pocket Expenses
外付費(fèi)用
Direct Staff is the key to being profitable
直接工作人員成本是影響客戶獲利的關(guān)鍵
Should be based on a resource plan which delivers profitability
應(yīng)發(fā)展 -- 人員資源分配計劃，并考慮對獲利的影響
Resource Plan needs to be modified for changes in revenue
當(dāng)營收改變時，資源分配計劃應(yīng)隨之調(diào)整
Chargeable to Client 可向客戶收費(fèi)的成本
Out of Pocket: Let the contract be your guide
外付費(fèi)用∶依合約行事
Get client to agree in advance
事前取得客戶的同意
Spend client’s money like it was your own
花客戶的錢，像花自己的錢
Not Chargeable to Client 不可向客戶收取之的成本
Keep these to the absolute minimum
盡量控制
Need to ask yourself:
確實了解其必要性

If the client won’t pay for it, is it
necessary!
Overhead 營運(yùn)成本
Everything we do which is not directly related to a client’s business is Overhead.
與經(jīng)營客戶不直接相關(guān)的
Establishment (leased premises) 例如∶房租
Gen’l Management, Finance, IT, Secretaries, etc
例如∶管理、財務(wù)、電腦人員...等
Office costs, IT Costs, legal, insurance, etc.
辦公設(shè)備...等
If the clients won’t pay for this, the goal is to be as efficient as possible.
如何在營運(yùn)成本各項上增加效率
Standard Costs vs Allocated Costs 標(biāo)準(zhǔn)成本與分配成本
Standard Costs assigns a $ value to each hour of time an individual works
每個人工作的單位小時成本標(biāo)準(zhǔn)成本
If an employee works beyond the standard work week, his standard cost could exceed what he actually gets paid
Allocated Costs takes the exact amount that an employee gets paid and allocates that over the hours actually worked
分配成本員工的總成本除以實際工作小時數(shù)
The compilation of allocated cost should always tie back to the accounting profit
Used for Client Profitability reported to OMW
Standard Costs vs Allocated Costs 標(biāo)準(zhǔn)成本與分配成本
Example:-
Monthly salaries : 1,600
Standard monthly working hours : 160
Hourly rate : 10
Actual working hours : 200
Standard cost : 200hrs * 10/hr = 2,000
Allocated cost : still at 1,600
If we use allocated cost as a basis to charge client, then we under-bill the client by 400


Why Bother with Standard Costs 標(biāo)準(zhǔn)成本
It is a valuable tool in understanding resource management
是了解資源管理的重要工具
provides valuable information which can help support client contract negotiations
提供與客戶溝通合約條件時的重要資訊
Enables you to set standards, for each employee, manager and account有助於設(shè)立標(biāo)準(zhǔn)
Enables performance comparisons:
有助於評估績效
Employee utilization 員工產(chǎn)能利用率
Performance vs staffing plan 績效與人員聘用計劃
Billable/Non-Billable performance: ind, dept, office
可收費(fèi)的成本與不可收費(fèi)的成本
Who Should be Accountable 這些是誰的責(zé)任
Accountability needs to reach everyone
每一個人的責(zé)任
Everyone should be evaluated against established standards for utilization
針對已設(shè)立的標(biāo)準(zhǔn)作個別評估
Department managers need to be responsible for
their reports
部門主管要監(jiān)督評估的確實性
Account managers need to be responsible for
業(yè)務(wù)經(jīng)理人員
Client profitability (more to come) 客戶獲利率
Performance vs resource plan 績效與資源分配計劃
Accuracy of revenue forecast 實際與預(yù)估的收入
All out of pocket costs 所有的外付成本
Accounting Firm Model 會計師事務(wù)所模式
The Professional service firms (Lawyers and Accountants), live by standard cost
專業(yè)的服務(wù)業(yè)，依標(biāo)準(zhǔn)成本收費(fèi)
Each Staff member is accountable for his own
每個員工要對以下負(fù)責(zé)
Chargeable hours 可收費(fèi)的工作小時數(shù)
Utilization rate 產(chǎn)能利用率
Each Staff member reports to a department manager who is accountable for his group’s performance in the above two areas
Each department manager is responsible for his own and group performance 部門責(zé)任制


如何善用科技
Use Technology for Profit

Technology
We have all failed as Businessmen in this area
在這個領(lǐng)域，我們大部分表現(xiàn)不佳
Everything we do in business should be based on cost / reward or ROI (Return on Investment)
所有的決策應(yīng)依據(jù)投資/報酬分析
When was the last time you submitted a ROI calculation for IT?
是否針對IT的投資作ROI分析？
The reason that we don’t do it, is because it is difficult to quantify
我們沒有做的原因是因為量化的困難度高？
Technology
So if we don’t do ROI, what should we do before we invest?
如果我們無法作ROI，投資前該如何評估？
Prepare an informal ROI
Will the equipment make us more efficient
這些技術(shù)、設(shè)備是否會增加我們的效率？
Can we save headcount
能否幫助我們降低員工人數(shù)？
Can we get more done with the same people
讓我們在既有的員工基礎(chǔ)上作更多事？
Can we give the client something better, that they will pay for
能否提供給客戶更好的服務(wù)，而且他們樂於付費(fèi)的？
What will it cost us if we don’t get the equipment
如果我們不投資，我們要付出的代價是什麼？

Technology
Quantify the value of the items just discussed and compare that to the costs
嘗試把投資帶來的好處量化并與成本比較
Payback should be fast 1 or 2 years at most
Figure out how to pay for equipment with
思考如何支付這項投資
additional revenue from clients
是否有更多的收入
cost savings
成本的節(jié)省
or create competitive advantage which adds value to the agency (justify : be critical)
因為價值的提升造成競爭優(yōu)勢，而有額外的資源
Technology
We shouldn’t just buy equipment to keep up, We need to have the equipment make us better more profitable.
設(shè)備的投資不是只為趕上潮流，而是要讓我們獲利情況改善。


Financial Model

Financial Model
The Traditional P&L: 傳統(tǒng)的盈虧分析
Billings 營業(yè)額
Revenue 收入（減退營業(yè)稅，文化稅和 Mindshare 所占的收入）
Staff Costs 員工成本
Establishment Costs 辦公室成本（租金,裝修折舊）
Personal Costs 個人成本（出差,培訓(xùn)）
Commercial Costs 商業(yè)成本（業(yè)務(wù)推廣）
Office / IT costs 辦公費(fèi)用成本（通訊,文具等）
Finance & General 一般管理人員成本
Overhead Allocation 區(qū)域成本（攤分總部費(fèi)用）
Operating Profit 營運(yùn)獲利

Financial Model
Example to Revenue Conversion
Year 2000 1999 Difference
Revenue 1,300 1,000 300
Op profit 200 100 100
Revenue conversion 100/300 * 100% = 33.3%


Financial Model
In the Agency, we have learned that efficient and productive office should earn margins of 25%-30% before bonus and O/H.
在獲利要求上，25%-30%是一個標(biāo)準(zhǔn)
The way we get to these margins are different in each market due to:
各市場在下列之成本結(jié)構(gòu)不同，所以獲利要求也可能有些調(diào)整。
Costs of Staff (ExPats, Social taxes, salaries)
Costs of Real estate
Market cost of doing business ( keeping up with standards in the market)
P&L Model - Unit
Expected Office margin before bonus and O/H should be 25% - 30%:
Revenue 1,000
Staff Costs (pre-bonus) 470 47% (Tgt 45%)
Establishment Costs 70 7%
All Other Costs 190 19%
Pft bef. Bonus & O/H 270 27%
O/H 70 7%
Profit before Bonus 200 20%

Client Profitability
Client Profitability - Accountability 客戶獲利率
Account Managers can not influence entire P&L.
業(yè)務(wù)經(jīng)理人無法影響全公司的盈虧
Account managers are responsible for:
但他(她)可對下列元素有所責(zé)任∶
Revenues 收入
Staffing on the account 服務(wù)於客戶的人員成本
Out-of-Pocket costs 外付成本(與服務(wù)客戶相關(guān)的)
Contribution Profit = Revenues - Direct staff - Direct
Other Costs (out-of-pocket)
What should we know ?
Direct Staff Costs (直接人員成本): represent the cost of people directly related to the revenue being generated. This should include Creative, Account Management, Production, and any other individuals who work directly on the account. Target should be 75%-80% of S/R%
與產(chǎn)出收入有直接關(guān)系的人員
Direct Other Costs (其他直接成本): are basically all out-of-pocket costs not reimbursed by the client. Mainly T&E, presentation costs, research, etc.
與服務(wù)客戶有關(guān)的外付成本，且無法向客戶收取的
What should we know?
Contribution Profit : represents Revenues less Direct Staff & Direct Other Cost
Contribution Margin % : Contribution Pft / Revenue Target should be 60%
Local Overhead (本地營運(yùn)成本): represents all of the costs of running an office which can not be directly attributed to a client.與服務(wù)客戶非直接相關(guān)的辦公室營運(yùn)成本(allocated on Direct staff)
These include : Indirect Staff: General Management, Finance, Back office, Administrative staff, etc
Establishment; Insurance, Legal, Training and all other costs of doing business not directly attributable to clients
What should we know?
Regional , OMW, Client Overhead (區(qū)域性/全球客戶營運(yùn)成本) : this is the o/h associated with running the regions, OMW and central client teams (allocated based on revenues)
Operating Profit (營運(yùn)利潤): Contribution Profit less Local O/H and Reg/OMW/WCS O/H
The 20% Model - (Regional)
What is an appropriate Contribution Margin?
To earn a 20% Operating Profit Margin contribution should be at least 57.5% as follows:
Revenue 1,000
Direct Staff Costs 375 37.5%
Direct Other 50 5%
Contribution Profit 575 57.5%
Local O/H 340 34%
Reg/OMW/WCS O/H 35 3.5%
Operating Profit 200 20%
Contribution Margin %
Under 20% Model we should be looking for a Contribution margin near 60%
When we are doing our resource plans, any client projected at lower margins need to challenged
作資源分配計劃時，客戶contribution margin未達(dá)要求標(biāo)準(zhǔn)，我們應(yīng)檢討∶
Do we need to re-negotiate compensation?
合約條件是否合理？
Are we over-servicing the revenues?
服務(wù)成本與收入是否成比例？
Are our out-of-pocket costs necessary?
外付成本的必要性？
How can we restructure account team?
是否要改變服務(wù)小組結(jié)構(gòu)？


WPP Group
WPP Group
Publicly traded on the UK and US stock exchanges
在美國、英國公開上市
Our owners / shareholders expect us to deliver continued growth in profits based on revenue growth with competitive margins
股東的期望∶
不斷增加的利潤
持續(xù)的成長
獲利率符合市場競爭
OMW represents about 33% of the revenues and about 35% of operating profits
奧美集團(tuán)在WPP的貢獻(xiàn)∶
收入∶33%
利潤∶35%



1998 Competitive Performance

Revenue Growth Total






Operating Margin % (including Equity)
Operating Profit Growth


WPP Group Expectation WPP 集團(tuán)的目標(biāo)
WPP is compared with Omnicom and IPG
Their goal is to be the leader in the group
希望成為領(lǐng)導(dǎo)者
Currently they are slightly behind in margin, but just a year or two away
目前在利潤的表現(xiàn)上尚有些微差距，但相距不遠(yuǎn)
They appear to be slipping in the revenue race
在收入的成長上差異較大

So what do they expect from OMW
在這樣的目標(biāo)下，對奧美集團(tuán)的期望

15% Organic Profit Growth
利潤的成長率∶15%
Margin Improvement of 1% vs prior year. Greater improvement when revenue growth exceeds 5% 獲利率每年增加1%或收入增加5%
Staff Cost to Revenue% improvement of 1% or more if S/R% exceed 58%
人員成本占收入比率每年降低1%
或更多如已超過58%


Revenue conversion of above budget / target revenues at 30% or better
收入轉(zhuǎn)為利潤率至少30%
Flexibility in cost base
在成本上要有彈性

OMW Targets
Planning Overview 財務(wù)計劃
Projecting and Controlling our current operating results is the key to our success
如何作好的預(yù)估加上好的控制是成功的關(guān)鍵
Identify trends before they happen
對會發(fā)生的事能更早預(yù)見
Plan for inherent risk in our revenue stream
對影響收入的風(fēng)險早作計劃
Create a cost base which can react to changes in revenue
發(fā)展可對應(yīng)收入改變的費(fèi)用計
Investment must become profitable quickly
投資必須盡快獲利
Increasing revenues should not be safety net which covers for weak cost control
增加的收入不應(yīng)只是彌補(bǔ)費(fèi)用的超支
OMW - 2000 Target Approach 奧美全球如何決定各公司之目標(biāo)
Look at each region to determine how to allocate profit target
先決定各區(qū)域之利潤目標(biāo)
Factors considered include:
考量因素包括
Expected revenue growth in region
成長空間
Recovery / Under-performing units
是否有績效不如理想之事業(yè)單位
current margin levels
目前利潤產(chǎn)出
Known opportunities in markets/clients
已知之成長機(jī)會點
stage in units life-cycle
各事業(yè)單位之發(fā)展階段
P&L Model - Unit
Expected Office margin before bonus and O/H should be 25% - 30%:
Revenue 1,000
Staff Costs (pre-bonus) 470 47% (Tgt 45%)
Establishment Costs 70 7%
All Other Costs 190 19%
Pft bef. Bonus & O/H 270 27%
O/H 70 7%
Profit before Bonus 200 20%



Budgeting
Budget - OMW Expectations 如何作預(yù)算
Revenues are identified by client
先確認(rèn)個別客戶的預(yù)期收入
Bottoms-up staffing plans are prepared to support a minimum return on each client
在設(shè)定的客戶獲利標(biāo)準(zhǔn)下，決定可支持的服務(wù)人員成本
All central office costs are reviewed for efficiency and waste is eliminated
跨公司的成本謹(jǐn)慎評估
Budget - OMW Expectations 如何作預(yù)算
Plans are developed to reduce excess capacity identified above
盡量減少產(chǎn)能的浪費(fèi)
Zero-based cost build-up (not just prior year +x%)
由零開始成本預(yù)估
Certain costs such as: salary & headcount increases, freelance and T&E are variable and give office some room to operate
營運(yùn)的彈性∶薪資及人數(shù)在必要時可增加，外部資源的利用、差旅應(yīng)酬視為變動成本

Budget - OMW Expectations
What do we look at:
一些特別值得注意的項目
Year on Year movement in cost
逐年成本的改變
Impact of unusual / extraordinary items
特別事件成本對當(dāng)年的影響
Phasing
分階段企劃的必要性
especially staffing which does not match revenue timing
Office expectations vs Market projections
整體市場的狀況
Revenue Growth 市場的成長
Cost Inflation 成本的上升
Salary Increases 薪資水平的上升

Budget - OMW Expectations
Budgets are submitted meeting both regional and worldwide expectations for:
預(yù)算力求在下列項目上達(dá)到標(biāo)準(zhǔn)∶
Revenue Growth
收入成長
Profit Growth
利潤成長
Margin Improvement
利潤率之改善
S/R% improvement
人員成本率之改善
Productivity Improvement (Revenue/ Head)
生產(chǎn)力之改善
Budgeting - The Process
The region will receive a target expectation from OMW which is based on:
WPP Objectives
Market revenue growth expectations
Stage of business cycle (recovery vs mature)
Current margins and ratios
The RFD should discuss these expectations with each unit and build budgets to meet the target
The Budget 財務(wù)預(yù)算
Start with a clean piece of paper
一切從零開始
Sit down with account people to get revenue estimates by client
預(yù)估每一個客戶的收入
Build a resource plan for each client
根據(jù)收入規(guī)劃服務(wù)人員
The Budget 財務(wù)預(yù)算
Determine what non-revenue generating costs are necessary to run the office
預(yù)估非產(chǎn)出收入的相關(guān)成本
Finish Bottoms -up Budget without looking at your actual cost base
由下往上的算出全部成本及收入
Determine whether Bottoms-up budget meets expectation
檢視結(jié)果是否能達(dá)到目標(biāo)
The Budget
Compare Bottoms-up Budget with the office’s real cost base
把由下往上算出的成本與實際成本作比較
Identify over-capacity / excess costs
找出差異點
Develop action plan to eliminate over-capacity / excess costs
擬定計劃來降低差異點
Commit to a Final Budget 完成預(yù)算
Meets OMW Target expectations
Eliminates unproductive costs
Flexible to changes in revenues
( MUST BE DELIVERED ! )
Does Final Budget Show 最後的預(yù)算是否符合下列標(biāo)準(zhǔn)
At least 15% profit Growth (bef. PY extraordinary)
利潤成長15%以上
Margin improvement of 1% for revenue growth of 5% or less, greater improvement for higher revenue growth or lower margins.
獲利率至少比去年增加1%
S/R% improvement of at least 1%
人員成本比收入比率降低1%
Revenue Conversion vs 1998 of 30%+
收入轉(zhuǎn)成利潤比率30%以上
Productivity Improvement of at least 5%
生產(chǎn)力改善至少5%
Revenue per Head
Profit per Head


OMW Issues - Forecasting 預(yù)算的重要性
OMW is a portfolio of about 160 reporting units in just about 50 countries
奧美在全球50多個國家，有160多個事業(yè)單位
If every office misses forecast by 2-3% we will and have over/under-state consolidated profits by up to $5 million.
每個事業(yè)單位在預(yù)算達(dá)成上不足2-3%，會造成整體美金5百萬利潤之下降
Forecasting - Units
We need accurate forecast from each unit
Since there is always a degree of risk in our business, units should forecast their most likely scenario (unless advised otherwise).
At a top-line level each FD should supply their RFD with the following forecast and commentary
Best Case
Most Likely (submitted forecast )
Worst Case
Indicate cost flexibility to cover ups/downs
Summary 總結(jié)
Targets, Budget and Forecast enable us to understand where the business is headed
作預(yù)算讓我們知道公司營運(yùn)的情況如何
We need accurate Budgets and Forecast which should be Zero-Based
作預(yù)算力求準(zhǔn)確，最好用由零開始作預(yù)算方式
We need to react quickly and decisively to changes in revenues
當(dāng)收入改變時，我們要果斷快速的應(yīng)變
Summary 總結(jié)
Need to educate management and staff that we are entering a new world and not everything will remain constant
管理人員和員工都應(yīng)該認(rèn)知現(xiàn)在的生意環(huán)境變化甚快
Manage staff expectations
有效地管理員工期望
Exercise
Client specific:
Business terms -- Comment on existing terms, highlight those unfavorable to us
Contribution profit -- Room for improvement
Risks in 2000 budget -- Contingency plan
Opportunity -- How to maximize

General:
3 things you will do to enhance our finance discipline
What other financial information will be helpful
What kind of help do you need from the senior
management

THANKS !

廣州奧美財務(wù)培訓(xùn)(ppt)