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1、www.myCNI.com.mywww.OOBEY.com RE-ENGINEERING THE ROLES AND TASKS OF THE FINANCE OFFICERCase Study, Concepts and Debatable IdeasKenny OngCNI Holdings Berhadwww.myCNI.com.mywww.OOBEY.com Intro: CNI1.20 years old2.Core Business: MLM3.Others: Contract Manufacturing, F&B Retail, Export/Trading, eCommerce
2、, Shared Services4.Malaysia, Singapore, Brunei, Indonesia, India, China, Hong Kong, Philippines, Italy, Taiwan, Oman, United States, Vietnam5.Staff force: 5006.Distributors: 200,0007.Products: Consumer Goods and Serviceswww.myCNI.com.mywww.OOBEY.com Re-engineering the major roles of the Finance Offi
3、cerIts all about expectationswww.myCNI.com.mywww.OOBEY.com Finance Role?Finance OfficerSBUs, Divs, DeptsCorporate HQStrategyResultsRequestServicePoliciesServicewww.myCNI.com.mywww.OOBEY.com Finance Function Objectives?TransactionalCost reduction, Efficiency, Agility, Fast CopyAP, General Ledger, B/S
4、 analysis, Accounting, Fixed Assets, AR, FacilitiesValue-addedBudgeting, Reporting, Financial Analysis, Forecasting, Tax, Legal, TreasuryConsistency, Analysis, Value creation, customizationSystems, Standardize, Benchmarking, ERP, Streamlining, Automation, GovernanceBest PracticesProcess improvement,
5、 service innovation, secondary KPIs, internal customersTransformationMarket Leadership, Competitive Differentiation, Business model, M&ADirect Business Impact, primary KPIs, external customerswww.myCNI.com.mywww.OOBEY.com Finance Role vs. MeasurementTransactionalCost reduction, Efficiency, Agility,
6、Fast CopyValue-addedBest PracticesConsistency, Analysis, ValueProcess improvement, service innovation, secondary KPIs, internal customersTransformationDirect Business Impact, primary KPIs, external customersTimeCostQuantityQualitywww.myCNI.com.mywww.OOBEY.com Finance Role vs. MeasurementTransactiona
7、lCost reduction, Efficiency, Agility, Fast CopyValue-addedBest PracticesConsistency, Analysis, Value creation, customizationProcess improvement, service innovation, secondary KPIs, internal customersTransformationDirect Business Impact, primary KPIs, external customersTimeCostQuantityQualityInnovati
8、onServicewww.myCNI.com.mywww.OOBEY.com Finance Role vs. MeasurementTransactionalCost reduction, Efficiency, Agility, Fast CopyValue-addedBest PracticesConsistency, Analysis, ValueProcess improvement, service innovation, secondary KPIs, internal customersTransformationDirect Business Impact, primary
9、KPIs, external customersTimeCostQuantityQualityInnovationServiceKPIwww.myCNI.com.mywww.OOBEY.com Finance Role vs. MeasurementTransactionalCost reduction, Efficiency, Agility, Fast CopyValue-addedBest PracticesConsistency, Analysis, ValueProcess improvement, service innovation, secondary KPIs, intern
10、al customersTransformationDirect Business Impact, primary KPIs, external customersTimeCostQuantityQualityInnovationServiceKPIImpactwww.myCNI.com.mywww.OOBEY.com Career Guide for Finance OfficersGo Wide, Dig Deepwww.myCNI.com.mywww.OOBEY.com Finances Role and Business Intentwww.myCNI.com.mywww.OOBEY.
11、com The digital watch didnt come from established watch companies, the calculator didnt come from slide rule or adding machine companies, video games didnt come from board-game manufacturers Parker Bros or Mattel, the ballpoint pen didnt come from fountain pen manufacturers, and Google didnt come fr
12、om the Yellow Pages Bob Seidensticker, Futurehypewww.myCNI.com.mywww.OOBEY.com Whats wrong with Business Strategy Today?Long-term PlansObjectivesStrategiesEnablersResourcesAlso known as L.O.S.E.R.www.myCNI.com.mywww.OOBEY.com Whats wrong with Business Strategy Today?1.Biggest Threats often come from
13、 OUTSIDE your normal industry2.Planning from the base of an Existing organization vs. zero-based3.Using Sunk Costs for decision making and planning4.Traditional Analysis (e.g. SWOT) based only on known or existing assumptions or knowledge5.Spending too much time in market research and analysis6.Defi
14、ning the company from a Product/Service perspective vs. Category vs. JTBD (e.g. Coca-cola)7.Wrong Benchmark already successful vs. what made them successful8.Implementing BSC and PMS to improve Business Model and Strategywww.myCNI.com.mywww.OOBEY.com Finance Role and the Business ModelHow to fail wi
15、thout tryingwww.myCNI.com.mywww.OOBEY.com Funds: What do Investors look for?www.myCNI.com.mywww.OOBEY.com Market Value010M&AP/EInvestorEtc.Strategic Control010I.P.MonopolyGov-linkedBusiness Model010USPProfit Mod.Mkt Disc.Growthwww.myCNI.com.mywww.OOBEY.com What is the Business Model?USPMarket Discip
16、lineProfit ModelGoogleAir AsiaTata Nanowww.myCNI.com.mywww.OOBEY.com What is the Business Model?USPMarket DisciplineProfit Modelwww.myCNI.com.mywww.OOBEY.com Business Model: Profit ModelRevenueCostMarginCash FlowAssetswww.myCNI.com.mywww.OOBEY.com RevenueFinancialLearning & GrowthInternal ProcessCus
17、tomers CostMarginStrategy + BSCCash FlowAssetwww.myCNI.com.mywww.OOBEY.com What is the Business Model?USPMarket DisciplineProfit Modelwww.myCNI.com.mywww.OOBEY.com Intro: Market DisciplineThey are the most innovativeConstantly renewing and creativeAlways on the leading edgeA great deal!Excellent/att
18、ractive priceMinimal acquisition cost and hassleLowest overall cost of ownershipA no-hassles firmConvenience and speedReliable product and serviceExactly what I needCustomized productsPersonalized communicationsTheyre very responsivePreferential service and flexibilityRecommends what I needIm very l
19、oyal to themHelps us to be a successProduct LeadershipOperationalExcellenceCustomerIntimacywww.myCNI.com.mywww.OOBEY.com Operational Excellence(low cost producer)Ref: The Discipline of Market Leaders, Michael Treacy & Fred Wiersema; 1995Product Leadership(best product)Customer Intimacy(best total so
20、lution)Strategy: Value Disciplineswww.myCNI.com.mywww.OOBEY.com www.myCNI.com.mywww.OOBEY.com Operational Excellence(low cost producer)Ref: The Discipline of Market Leaders, Michael Treacy & Fred Wiersema; 1995Product Leadership(best product)Customer Intimacy(best total solution)Strategy: Value Disc
21、iplineswww.myCNI.com.mywww.OOBEY.com www.myCNI.com.mywww.OOBEY.com Operational Excellence(low cost producer)Ref: The Discipline of Market Leaders, Michael Treacy & Fred Wiersema; 1995Product Leadership(best product)Customer Intimacy(best total solution)Strategy: Value Disciplineswww.myCNI.com.mywww.
22、OOBEY.com www.myCNI.com.mywww.OOBEY.com Operational ExcellenceCompetitive priceError free, reliableFast (on demand)SimpleResponsiveConsistent information for allTransactionalOnce and DoneCustomer IntimacyManagement by FactEasy to do business withHave it your way (customization)Market segments of one
23、Proactive, flexibleRelationship and consultative sellingCross sellingProduct LeadershipNew, state of the art products or servicesRisk takersMeet volatile customer needsFast concept-to- counterNever satisfied - obsolete own and competitors productsLearning organizationStrategy: Value Disciplineswww.m
24、yCNI.com.mywww.OOBEY.com www.myCNI.com.mywww.OOBEY.com The McPlaybook*Make it easy to eat50% drive-thruMeals held in one handMake it easy to prepareHigh TurnoverTasks simple to learn & repeatMake it quick“Fast Food”Tests new products for Cooking TimesMake what customers wantProwls market for new pro
25、ductsMonitored field tests*Adapted from: Businessweek , Februrary 5th 2007www.myCNI.com.mywww.OOBEY.com www.myCNI.com.mywww.OOBEY.com Operational Excellence(low cost producer)Ref: The Discipline of Market Leaders, Michael Treacy & Fred Wiersema; 1995Product Leadership(best product)Customer Intimacy(
26、best total solution)Strategy: Disciplineswww.myCNI.com.mywww.OOBEY.com Operational Excellence(low cost producer)Ref: The Discipline of Market Leaders, Michael Treacy & Fred Wiersema; 1995Product Leadership(best product)Customer Intimacy(best total solution)Strategy: DisciplinesHP well-balanced portf
27、olio, mass customization Acer super lean cost structure, aggressive pricingApple powerful products, premium pricing, limited range Still Doing well in 2009www.myCNI.com.mywww.OOBEY.com What is the Business Model?USPMarket DisciplineProfit ModelGoogleAir AsiaTata Nanowww.myCNI.com.mywww.OOBEY.com Fin
28、ance Role and Strategic PlanningHope is not a strategywww.myCNI.com.mywww.OOBEY.com What is Strategic Planning?Strategic PlanningVariables:ResearchGrowthRisksStakeholdersConstraintsSWOTMisc.Output:PlansPrioritiesKPIswww.myCNI.com.mywww.OOBEY.com What is your Goal?1.Cost Reduction2.Growth3.Both?www.m
29、yCNI.com.mywww.OOBEY.com Growth Strategy1.Base Retention2.Share Gain3.Positioning4.Adjacent Market5.New BusinessGROWTH“Double-Digit Growth”, Michael Treacywww.myCNI.com.mywww.OOBEY.com Increase switching costCustomize productsPreempt DefectionsBrandNeutralize Competitor advantagesSuperior ValueBuy m
30、arket shareSpot growth opportunitiesOrganized searchPromising Market?Make or Buy?www.myCNI.com.mywww.OOBEY.com Side Notes on Cost Reduction StrategyCost ReductionBusiness ModelUSPProfit ModelMarket DisciplineInvest/DivestOperationalFinance, HR, ITSupply ChainR&DSales & Marketing5% - 30%30% - 80%www.
31、myCNI.com.mywww.OOBEY.com Strategy vs. FocusUpturnFlatDownturnFight ComplacencySharpen EdgeKeep MomentumConquerNPD Cycle TimeImprove EdgeExtensionsCounter CompetitorInnovationAcquireProfitsBuild momentumSalesCash FlowInnovation/R&DFocus BreakthroughsJV, In-source, Out-sourceEliminate bottom 20%Impro
32、ve Top 15% revenue-generating products R&D, Saleswww.myCNI.com.mywww.OOBEY.com www.myCNI.com.mywww.OOBEY.com RevenueBase RetentionShare GainPositioningAdjacent MarketNew BusinessFinancialLearning & GrowthInternal ProcessCustomers CostMarginStrategy + BSCCash FlowAssetSatisfactionwww.myCNI.com.mywww.
33、OOBEY.com Operational Excellence(low cost producer)Ref: The Discipline of Market Leaders, Michael Treacy & Fred Wiersema; 1995Product Leadership(best product)Customer Intimacy(best total solution)Strategy: Disciplines, Priorities, and KPIswww.myCNI.com.mywww.OOBEY.com Operational ExcellenceCompetiti
34、ve priceError free, reliableFast (on demand)SimpleResponsiveConsistent information for allTransactionalOnce and DoneCustomer IntimacyManagement by FactEasy to do business withHave it your way (customization)Market segments of oneProactive, flexibleRelationship and consultative sellingCross sellingPr
35、oduct LeadershipNew, state of the art products or servicesRisk takersMeet volatile customer needsFast concept-to- counterNever satisfied - obsolete own and competitors productsLearning organizationStrategy: Disciplines, Priorities, and KPIswww.myCNI.com.mywww.OOBEY.com Operational ExcellenceMove kno
36、w-how from top performing units to othersBenchmark against best in classEnsure operations training for all employeesUse disciplines like TQM for continuous learning to reduce costs and improve qualityStrategy: Value Disciplineswww.myCNI.com.mywww.OOBEY.com Strategy: Value DisciplinesCustomer Intimac
37、yCapture knowledge about customersUnderstand customer needsEmpower front line employeesEnsure that everyone knows the customerMake company knowledge available to customerswww.myCNI.com.mywww.OOBEY.com Product LeadershipReduce time to marketCommercialize new products fastEnsure that ideas flowReuse w
38、hat other parts of the company have already learnedEnsure there are multiple sources of fundingStrategy: Value Disciplineswww.myCNI.com.mywww.OOBEY.com RevenueBase RetentionShare GainPositioningAdjacent MarketNew BusinessFinancialLearning & GrowthInternal ProcessCustomers CostMarginStrategy + BSCCas
39、h FlowAssetOperational ExcellenceProduct LeadershipCustomer IntimacyInvestment StrategySatisfactionwww.myCNI.com.mywww.OOBEY.com Before we startWhich comes first?1.Strategies - KPI?2.KPI - Strategies?www.myCNI.com.mywww.OOBEY.com Before we startWhich comes first?1.Strategies - KPI?2.KPI - Strategies
40、?already know our priorities, aware of all strategy options availablecreating something UNIQUE, INNOVATIVE and DISRUPTIVE e.g. Air Asiaconducting a business Turnaround e.g. MASwww.myCNI.com.mywww.OOBEY.com Before we startWhich comes first?1.Strategies - KPI?2.KPI - Strategies?want to find out possib
41、le strategies, determine our priorities first thru selection of important KPIs; growing through normal business, not a Turnaround.www.myCNI.com.mywww.OOBEY.com Example: Selection of KPIs for BSCCustomer satisfactionCustomer loyaltyMarket shareCustomer complaintsComplaints resolved on first contactRe
42、turn ratesResponse time per customer requestPrice relative to competitionTotal cost to customerAverage duration of customer relationshipCustomers lostCustomer retentionCustomer acquisition ratesPercentage of revenue form new customersNumber of customersAnnual sales per turnoverWin rate (sales closed
43、/sales contact)Customer visits to the companyHours spent with customersMarketing cost as a percentage of salesNumber of ads placedNumber of proposals madeBrand recognitionResponse rateNumber of trade shows attendedSales volumeShare of target customer spendingSales per channelAverage customer sizeCus
44、tomers per employeeCustomer service expense per customerCustomer profitabilityFrequency (number of sales transactions)www.myCNI.com.mywww.OOBEY.com Wrong KPIs“What is the moral of the story?”www.myCNI.com.mywww.OOBEY.com KPIs and BehaviorBefore: “Handle Time” Per CallMotivated Call Centre staff to t
45、ransfer callers, getting rid of complainers, making them someone elses problemCallers at 45% chance of being transferred7,000 customers each week suffered transfers 7 times or morewww.myCNI.com.mywww.OOBEY.com KPIs and BehaviorAfter: “Minutes Per Resolution” of a problemResolution in ONE CALL become
46、 the core goalReduced probability of call transfers from 45% to 18% www.myCNI.com.mywww.OOBEY.com Sample: Other 1st Level KPIs across industriesFinancial ServicesRetailTelecommunicationsMaximize ARPUMinimize ChurnMutichannel customer serviceUnderstand customer behavior related to customer conversion
47、, acquisition, and retentionSingle view of customerMultichannel customer experiencePersonalized customer experienceAnticipate and prevent churn despite compensationIncrease number of products per customerTurn call center information opportunity to up-sell and cross-sellIncrease customer satisfaction
48、 and loyaltyHospitalityTravel & LeisureManufacturingPersonalized customer experienceMaximize share of walletPlayer/customer loyaltyMultichannel customer serviceIncrease customer loyalty and preferenceMaximize customer revenueImprove service quality and efficiencyCapture and close sales opportunities
49、Single view of customers across supply chainZero-error order captureStreamline opportunity to cash processesLeverage investment in ERP and backoffice systemswww.myCNI.com.mywww.OOBEY.com Sample KPIs for Each DisciplineOperational ExcellencePriceSelectionConvenienceZero DefectsGrowthCustomer Intimacy
50、Customer KnowledgeSolutions OfferedPenetrationCustomer DataCustomer-success focusProduct LeadershipMarketingFunctionality# of Successes# of FailuresLearn from key usersInterdisciplinary teamsPipelinewww.myCNI.com.mywww.OOBEY.com Finance Role and Resource Allocation and AlignmentWhere did our money g
51、o?www.myCNI.com.mywww.OOBEY.com Budgeting: Some thoughtsTwo major roles of Budgeting:1.Provide real-life CONSTRAINTS to strategic planning2.Provide RESOURCES to realize strategic plansWhy Constraints?1.Over aggressive unrealistic planning, usually by Marketing/Sales need to be grounded to real life2
52、.Creative entrepreneurial thinking when resources are limited3.Enforce the need for Accountability i.e. ROI thinking for all Managerswww.myCNI.com.mywww.OOBEY.com E3 Department BSCCustomer Perspective Marketing DepartmentGoals StrategiesTargetsCAPEXOPEXBase RetentionShare GainBudgetingwww.myCNI.com.
53、mywww.OOBEY.com Alignment: 4-Wheels ModelCultureBusiness ModelStrategic PlanningStructurePersonLeadershipResourceswww.myCNI.com.mywww.OOBEY.com Alignment: FrameworkFocus pointAlignmentQualityInnovation & DifferentiationRisk takingPerformance ManagementCorporate obsessionDecision makingCulturewww.myC
54、NI.com.mywww.OOBEY.com Alignment: FrameworkOrg StructureJob DesignC&BPolicies & proceduresDecision makingJob fitManagement SystemsBSC and KPIsDecentralized & EmpowerStructurewww.myCNI.com.mywww.OOBEY.com Strategy: FrameworkRole modelingVision/Mission/PhilosophyLeadership StyleDelegation & Empowermen
55、tC&B, PromotionsSense of UrgencySpeak regularly about PerformanceLeadershipwww.myCNI.com.mywww.OOBEY.com Strategy: FrameworkRecognitionRecruitmentTrainingProfit sharingValuesMotivationSelf EfficacyAwarenessUseful CompetenciesCareer aspirationsAttribution (control)Personwww.myCNI.com.mywww.OOBEY.com
56、Strategy: FrameworkEnablersTechnologyEquipmentMaterialsHumanIntellectual PropertyPartnersPropertyResourcesFunding CAPEXOPEXwww.myCNI.com.mywww.OOBEY.com Alignment: 4-Wheels ModelCultureBusiness ModelStrategic PlanningStructurePersonLeadershipResourceswww.myCNI.com.mywww.OOBEY.com Operational Excelle
57、nceCustomer IntimacyProduct LeadershipOrganization, jobs,skillsManagement systemsInformation and systemsCulture, values,normsEach Discipline Requires Different Priorities & Resourceswww.myCNI.com.mywww.OOBEY.com Operational ExcellenceCentral authority, low level of empowermentHigh skills at the core
58、 of the organizationDisciplined TeamworkProcess, product- drivenConformance, one size fits all mindsetIntegrated, low cost transaction systemsThe system is the processCommand and controlQuality managementOrganization, jobs, skillsManagement systemsInformation and systemsCulture, values,normsEach Dis
59、cipline Requires Different Priorities & Resourceswww.myCNI.com.mywww.OOBEY.com Organization, jobs,skillsManagement systemsInformation and systemsCulture, values,normsProduct LeadershipAd hoc, organic and cellularHigh skills abound in loose-knit structuresConcept, future-drivenExperimentation and out
60、 of the box mindsetPerson-to-person communications systemsTechnologies enabling cooperationRewarding individuals innovative capacityRisk and exposure managementProduct Life Cycle profitabilityEach Discipline Requires Different Priorities & Resourceswww.myCNI.com.mywww.OOBEY.com Organization, jobs,sk
61、illsManagement systemsInformation and systemsCulture, values,normsCustomer IntimacyEmpowerment close to point of customer contactHigh skills in the field and front-lineCustomer-drivenVariation and have it your way mindsetStrong customer databases, linking internal and external informationStrong anal
62、ytical toolsCustomer equity measures like life time valueSatisfaction and share managementFocus on Share of WalletEach Discipline Requires Different Priorities & Resourceswww.myCNI.com.mywww.OOBEY.com RevenueBase RetentionShare GainPositioningAdjacent MarketNew BusinessFinancialLearning & GrowthInte
63、rnal ProcessCustomers CostMarginStrategy + BSCCash FlowAssetOperational ExcellenceProduct LeadershipCustomer IntimacyInvestment StrategyCompetenciesInformation SystemsMotivation, empowerment, alignmentSatisfactionwww.myCNI.com.mywww.OOBEY.com Budgeting in a Downturnwww.myCNI.com.mywww.OOBEY.com Budg
64、eting in a Downturnwww.myCNI.com.mywww.OOBEY.com Budgeting in a Downturnwww.myCNI.com.mywww.OOBEY.com Budgeting in a Downturnwww.myCNI.com.mywww.OOBEY.com Budgeting in a Downturn1.StratEx2.CoRExwww.myCNI.com.mywww.OOBEY.com Linking the Finance Role with Sales & MarketingBuilding relationships for th
65、e good of the companywww.myCNI.com.mywww.OOBEY.com Typical Corporate Planning Scenario?1.Budget top down no questions asked2.Only two budget goals revenue, expenses3.The only planning we needed to do was “do better than last year”4.Planning was bottom up - compilation of plans within set budget5.No
66、one knew what the other was planning6.FACs role was only to compile budget for approval7.KPIs were not used8.Sales was resource priority, everything else not important9.Assumed no major changes in market10.R&D was bottom upwww.myCNI.com.mywww.OOBEY.com www.myCNI.com.mywww.OOBEY.com At the TableSales
67、 and MarketingFinance and Accounts1.Field Intelligence2.CRM3.Growth (organic)4.Lagging KPIs5.Adaptability6.Channels7.1st Level Branding8.Stakeholder Interest: Customers9.Gut Feel/Instincts1.External Intelligence2.Ratios3.Leading KPIs4.Control/ Constraints5.Resource Mgmt6.Stability & Systems7.Pyramid
68、 roles8.Containment9.Shareholder Interest: Shareholderwww.myCNI.com.mywww.OOBEY.com www.myCNI.com.mywww.OOBEY.com Linking the RolesSales and MarketingFinance and AccountsFour Links:1.Philosophy2.Business Model3.KPIs4.Resource Allocationwww.myCNI.com.mywww.OOBEY.com www.myCNI.com.mywww.OOBEY.com Phil
69、osophy“In business after business, 60% to 80% of lost customers reported on a survey just prior to defecting that they were satisfied or very satisfied.”HBR March/April 1996www.myCNI.com.mywww.OOBEY.com www.myCNI.com.mywww.OOBEY.com Business ModelUSPMarket DisciplineProfit Modelwww.myCNI.com.mywww.O
70、OBEY.com Sample KPIs for Each DisciplineOperational ExcellencePriceSelectionConvenienceZero DefectsGrowthCustomer IntimacyCustomer KnowledgeSolutions OfferedPenetrationCustomer DataCustomer-success focusProduct LeadershipMarketingFunctionality# of Successes# of FailuresLearn from key usersInterdisci
71、plinary teamsPipelinewww.myCNI.com.mywww.OOBEY.com www.myCNI.com.mywww.OOBEY.com Budgeting & ResourceCultureBusiness ModelStrategic PlanningStructurePersonLeadershipResourcesFunding CAPEXOPEXwww.myCNI.com.mywww.OOBEY.com End NotesTying it all upwww.myCNI.com.mywww.OOBEY.com Problems, problems and mo
72、re problemswww.myCNI.com.mywww.OOBEY.com Alignment: 4-Wheels ModelCultureBusiness ModelStrategic PlanningStructurePersonLeadershipResourceswww.myCNI.com.mywww.OOBEY.com “in the past 18 months, we have heard that profit is more important than revenue, quality is more important that profit, people are
73、 more important than profit, customers are more important than our people, big customers are more important than small customers, and that growth is the key to our success. No wonder our performance is inconsistentCEO, Anonymous www.myCNI.com.mywww.OOBEY.com www.myCNI.com.mywww.OOBEY.com Dont forget“The business of business is Business, not Sales, not Marketing, not Finance” www.myCNI.com.mywww.OOBEY.com Thank You.soft copy of slides:
