《广州奥美财务培训》PPT课件.ppt

1、广州奥美财务培训 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,S Skill How do you know your clients profitability - capacity plan, an

2、alysis 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,Finance Training,The Business,Make Money for Today,Our business by its nature is Short-term 我们生意的特质是相当短期的 Im not talking abou

3、t brand building .rather how business decisions need to be made 这里指的不是品牌的建立，而是指在我们的营运 中各种管理决策如何形成。,Clients come and go, reduce/cut budgets with little to no notice 客户来来去去，删减预算的动作突如其来。 Billing cuts in the 4th qtr mean we are effectively working for free 在第四季删减预算意味著我们的工作是免费的 We do not manufacture a pr

4、oduct, our capital is our people 我们并不制造产品，我们的资产就是人 Employees come and go ( high turn-over ) 员工也是来来去去的,Make Money for Today,Make Money for Today,Constantly changing business landscape does not allow us to accept under-performing operations 面对著如此大的变化，不获利的营运是无法被接受 Service businesses are expected to sho

5、w consistent earnings growth. 服务性的公司必须要有持续获利的成长,创业的精神 The Entrepreneurial Approach,Entrepreneurial Approach,If it was your business, you would not: 如果这是你的公司，你一定不会 be satisfied just getting by . you want to make money! 因损益平衡而满意， Pay people to sit and wait for new revenues 让你的员工坐著等新生意上门 negotiate cont

6、racts that were unprofitable 接受无法获利的合约,invest in training employees who leave for better opportunities 投资於训练员工，他们却离开去寻找更好的机会。 make long-term binding financial commitments that are not supported by income 做一些长期财务的承诺，而却是没有收入的支持。 provide services to the client which the client would not pay for 免费提供服务给

7、客户。,Entrepreneurial Approach,If it was your business, you would : 如果这是你的公司，你一定会 only buy technology that makes you better and returns your investment 只有能让你更好，及能有所回收时，才投资於科技 make yourself so important to the client, that they believe they cant succeed without you 让客户相信他们不能没有你 research clients credit,

8、 & collect your money 调查客户的信用，及时收回应收帐款。 you would not be their bank! 你不会成为他们的银行,Entrepreneurial Approach,Running The Business,The Basics for Running this Business,Keep Overhead Low! 降低营运成本 Negotiate flexibility 争取弹性 Leverage price advantage where possible 运用“量”的优势 Dont build administrative empires 不

9、要形成管理官僚系统,The Basics for Running this Business,Utilize your staff 善用员工 clients will only pay for the staff they receive value from (will not pay for your Back-office) 有价值的员工，客户才愿支付费用 you should keep track of the utilization rate of all of your employees 充分了解员工的利用率 set standards 设立标准值 review performa

10、nce vs standards 评估现况与标准值之差异 make managers and individuals responsible 每一个员工都对此有责任,The Basics for Running this Business,Utilize your staff 善用员工 minimize through efficiency the number of non-revenue generating staff 透过效率的提升可减少非产出收入的员工数 where possible leverage existing staff for new business .new bus.

11、 teams are expensive & O/H 用既有的员工作新生意的开发,The Basics for Running this Business,Staffing should match revenue stream 员工与营收的关系 Many efficient offices under-staff with permanent employees 能否降低员工的聘用 use freelance / temporary staff / out-source 利用外部资源 only hire when revenue stream is confirmed 有收入才加人 Inve

12、stigate all alternatives 其他的途径 avoid creating fixed costs 降低固定成本 be creative 尝试不同的作法,The Basics for Running this Business,Negotiate Profitable Compensation 争取可获利的条件 constantly review existing contracts 定期检讨合约中的条件 has the business changed I s contract relevant Challenge our Contracts 挑战不利於我们的合约条件 Cli

13、ents should accept that we need to make profit 客户应接受我们是营利事业 Communicate why current compensation does not allow profit ( our inefficiency is not acceptable) 与客户沟通有哪些不利於我们的条件,The Basics for Running this Business,A well negotiated fee is easier to manage than commission 固定收费制度比佣金制度易於管理 we get paid for

14、 the work we do, assures client commitment 我们的付出会得到一定的报酬，客户服务较有保障,The Basics for Running this Business,Commissions . unpredictability must be managed 佣金制度充满了不确定性，更要有效地管理 Understand the Risk / Reward 了解风险与报酬 Consider retainers / minimums 考虑最基本的服务所需 Must constantly understand what spend will be 不断地确认预

15、算的状况 Equate level of service to expected revenue 依预期的收入来对应服务的提供 Discuss client service expectations vs revenue when revenues are low or falling 当预算下降时，客户服务的期望会有何变化 Be creative, have client pay for things outside the commission 尝试不同的作法，还有哪些费用是可向客户收取的 Dont get caught with a client cut in the 4th qtr w

16、hich in effect means we have worked for free 客户在第四季删减预算是最糟的情况,The Basics for Running this Business,Dont give services away for free 不要提供服务而不收费 if its not in the contract, make them pay for it Make the client honor the contract 让客户尊重合约 invoice all eligible out-of-pocket costs 向客户收取外付直接费用 figure out h

17、ow to bill for technology electronic file transfers, etc. 各项科技设备使用可否向客户收费 Dont spend money on items Client will not pay for 不应该花钱在客户不会支付费用的项目 Be prudent with the clients money and they will be more willing to agree to costs 花客户钱时，务必谨慎,The Basics for Running this Business,Collect your money 收回应收帐款 Do

18、nt finance your clients by paying for media, etc. before you receive their cash 尽量不要帮客户垫款 Watch your receivables! 注意应收帐款 Check balances daily . be a pest watch your clients financial situation Work in Progress 注意未结卡帐款 This is unbillable production hiding on your balance sheet 有哪些是无法收回的 Invoice it, C

19、ollect. Aged balances are trouble. 帐龄太长容易造成麻烦,Accountability 会计责任,Accountability,MANAGEMENT ACCOUNTING is more important to management than Statutory accounting? 对管理者而言，管理会计更重要 Improvement in the financial ratios requires a true understanding of how we are performing financially on each client. 要在财务

20、上有所改善，必须深入了解每一个客户的获利情况 You cant expect an account person to be responsible with the offices profit margin but You can make him responsible for his acct. 业务人员对其经营的客户是否获利有重要的责任,Accountability,Statutory accting is important but it does not help management understand the business 我们的会计制必须对管理阶层提供经营决策的参考

21、Value of Finance Team = Quality Client Data 财务人员的价值在於其提供资讯的品质 Business should be run based on Knowledge of account profitability 管理经营的基础是客户的获利率,Accounting for Time有关时间成本,The heart of Client Profitability 客户获利分析的核心 Must get all employees to recognize its importance 所有的员工必须认知其重要性 Time reporting must b

22、e accurate and complete 日报表要完整及准时,Accounting for Time有关时间成本,Methods Time Sheets日报表的填写 Time Allocations工作时间的分配 Summarized Data is the key 资料汇总是关键 Make people accountable for time 大家必须对工作时间负责 Account Managers 业务经理人 Dept Managers (Creative, Production,etc) 部门主管,Accounting for Costs成本,Costs fall into Th

23、ree Categories: 成本可分为三大类 Chargeable to Client可向客户收费 Not Chargeable to Client不可向客户收费 Overhead营运成本 Every $ we spend should be categorized in one of these buckets 花每一笔钱时，评估一下属於哪一种成本,Chargeable to Client可向客户收费的成本,Basically these are: Direct Staff Costs 直接工作人员成本 Out of Pocket Expenses 外付费用 Direct Staff i

24、s the key to being profitable 直接工作人员成本是影响客户获利的关键 Should be based on a resource plan which delivers profitability 应发展 - 人员资源分配计划，并考虑对获利的影响 Resource Plan needs to be modified for changes in revenue 当营收改变时，资源分配计划应随之调整,Out of Pocket: Let the contract be your guide 外付费用依合约行事 Get client to agree in advanc

25、e 事前取得客户的同意 Spend clients money like it was your own 花客户的钱，像花自己的钱,Chargeable to Client可向客户收费的成本,Keep these to the absolute minimum 尽量控制 Need to ask yourself: 确实了解其必要性 If the client wont pay for it, is it necessary!,Not Chargeable to Client不可向客户收取之的成本,Overhead营运成本,Everything we do which is not direct

26、ly related to a clients business is Overhead. 与经营客户不直接相关的 Establishment (leased premises)例如房租 Genl Management, Finance, IT, Secretaries, etc 例如管理、财务、电脑人员.等 Office costs, IT Costs, legal, insurance, etc. 办公设备.等 If the clients wont pay for this, the goal is to be as efficient as possible. 如何在营运成本各项上增加

27、效率,Standard Costs vs Allocated Costs标准成本与分配成本,Standard Costs assigns a $ value to each hour of time an individual works 每个人工作的单位小时成本标准成本 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 employ

28、ee gets paid and allocates that over the hours actually worked 分配成本员工的总成本除以实际工作小时数 The compilation of allocated cost should always tie back to the accounting profit Used for Client Profitability reported to OMW,Example:- Monthly salaries : 1,600 Standard monthly working hours : 160 Hourly rate : 10

29、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,Standard Costs vs Allocated Costs标准成本与分配成本,So why is this important! Standard Costing tells us the true story o

30、f what the client should be paying for 标准成本会反映出客户应支付的费用 Allocated costs is usually what the client, under a multiplier based fee will pay for 分配成本反映出客户愿支付的费用 We need to figure out to how not to give away our over-time 必须注意，超时工作的部分不应免费 Understand the inherent cost of overtime 太多超时工作的状况应注意 Productivit

31、y生产力 Employee reward expectation员工对报酬期望的改变,Standard Costs vs Allocated Costs标准成本与分配成本,Why Bother with Standard Costs标准成本,It is a valuable tool in understanding resource management 是了解资源管理的重要工具 provides valuable information which can help support client contract negotiations 提供与客户沟通合约条件时的重要资讯 Enables

32、 you to set standards, for each employee, manager and account有助於设立标准 Enables performance comparisons: 有助於评估绩效 Employee utilization员工产能利用率 Performance vs staffing plan绩效与人员聘用计划 Billable/Non-Billable performance: ind, dept, office 可收费的成本与不可收费的成本,Who Should be Accountable这些是谁的责任,Accountability needs to

33、 reach everyone 每一个人的责任 Everyone should be evaluated against established standards for utilization 针对已设立的标准作个别评估 Department managers need to be responsible for their reports 部门主管要监督评估的确实性 Account managers need to be responsible for 业务经理人员 Client profitability (more to come)客户获利率 Performance vs resou

34、rce plan绩效与资源分配计划 Accuracy of revenue forecast实际与预估的收入 All out of pocket costs所有的外付成本,Accounting Firm Model会计师事务所模式,The Professional service firms (Lawyers and Accountants), live by standard cost 专业的服务业，依标准成本收费 Each Staff member is accountable for his own 每个员工要对以下负责 Chargeable hours可收费的工作小时数 Utiliza

35、tion rate产能利用率 Each Staff member reports to a department manager who is accountable for his groups performance in the above two areas Each department manager is responsible for his own and group performance部门责任制,Accounting Firm Model,Each account manager is responsible for 业务经理人负责任 Hours charged to

36、his account收费小时数 Out of Pocket cost on his account外付成本 amounts billed to the client向客户收取之费用 amount of billable hours vs non-charged hours 可收费之工作时数与不可收费工作时数之差异 All employees are evaluated and incentivized based on these performance criteria 员工的评估及奖励是根据这些标准 Advertising, being staff driven, is very sim

37、ilar to this model. Commission compensation makes the revenue stream more volatile 广告公司的经营模式非常类似，佣金制反而变化太大,如何善用科技 Use Technology for Profit,Technology,We have all failed as Businessmen in this area 在这个领域，我们大部分表现不佳 Everything we do in business should be based on cost / reward or ROI (Return on Invest

38、ment) 所有的决策应依据投资/报酬分析 When was the last time you submitted a ROI calculation for IT? 是否针对IT的投资作ROI分析？ The reason that we dont do it, is because it is difficult to quantify 我们没有做的原因是因为量化的困难度高？,Technology,So if we dont do ROI, what should we do before we invest? 如果我们无法作ROI，投资前该如何评估？ Prepare an informa

39、l ROI Will the equipment make us more efficient 这些技术、设备是否会增加我们的效率？ Can we save headcount 能否帮助我们降低员工人数？ Can we get more done with the same people 让我们在既有的员工基础上作更多事？ Can we give the client something better, that they will pay for 能否提供给客户更好的服务，而且他们乐於付费的？ What will it cost us if we dont get the equipment

40、 如果我们不投资，我们要付出的代价是什麽？,Technology,Quantify the value of the items just discussed and compare that to the costs 尝试把投资带来的好处量化并与成本比较 Payback should be fast 1 or 2 years at most Figure out how to pay for equipment with 思考如何支付这项投资 additional revenue from clients 是否有更多的收入 cost savings 成本的节省 or create compe

41、titive advantage which adds value to the agency (justify : be critical) 因为价值的提升造成竞争优势，而有额外的资源,Technology,We shouldnt just buy equipment to keep up, We need to have the equipment make us better more profitable. 设备的投资不是只为赶上潮流，而是要让我们获利情况改善。,Financial Model,Financial Model,The Traditional P&L: 传统的盈亏分析 B

42、illings营业额 Revenue收入（减退营业税，文化税和 Mindshare 所占的收入） Staff Costs员工成本 Establishment Costs办公室成本（租金,装修折旧） Personal Costs个人成本（出差,培训） Commercial Costs商业成本（业务推广） Office / IT costs办公费用成本（通讯,文具等） Finance & General一般管理人员成本 Overhead Allocation区域成本（摊分总部费用） Operating Profit营运获利,Financial Model,Key Indicators: 主要指标

43、Revenue Growth % 收入成长率 Staff cost / Revenue % 人员成本占收入比例 Operating Profit Margin % 营运利润率 Revenue Conversion % 收入转为利润比例 Productivity Indicators: 生产力指标 Revenue per Head 平均每人收入额 Profit Per Head 平均每人利润额,Example to Revenue Conversion Year 2000 1999 Difference Revenue 1,300 1,000 300 Op profit 200 100 100

44、Revenue conversion 100/300 * 100% = 33.3%,Financial Model,Financial Model,In the Agency, we have learned that efficient and productive office should earn margins of 25%-30% before bonus and O/H. 在获利要求上，25%-30%是一个标准 The way we get to these margins are different in each market due to: 各市场在下列之成本结构不同，所以

45、获利要求也可能有些调整。 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%: Revenue1,000 Staff Costs (pre-bonus)47047% (Tgt 45%) Establishm

46、ent Costs707% All Other Costs 19019% Pft bef. Bonus & O/H27027% O/H707% Profit before Bonus 20020%,Client Profitability,Client Profitability - Accountability客户获利率,Account Managers can not influence entire P&L. 业务经理人无法影响全公司的盈亏 Account managers are responsible for: 但他(她)可对下列元素有所责任 Revenues收入 Staffing

47、on the account服务於客户的人员成本 Out-of-Pocket costs外付成本(与服务客户相关的) Contribution Profit = Revenues - Direct staff - Direct Other Costs (out-of-pocket),What should we know ?,Direct Staff Costs (直接人员成本): represent the cost of people directly related to the revenue being generated. This should include Creative,

48、 Account Management, Production, and any other individuals who work directly on the account. Target should be 75%-80% of S/R% 与产出收入有直接关系的人员 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. 与服务客户有关的外付成本，且无法

49、向客户收取的,What should we know?,Contribution Profit : represents Revenues less Direct Staff Insurance, Legal, Training and all other costs of doing business not directly attributable to clients,What should we know?,Regional , OMW, Client Overhead (区域性/全球客户营运成本) : this is the o/h associated with running

50、the regions, OMW and central client teams (allocated based on revenues) Operating Profit (营运利润): 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% a

51、s follows: Revenue1,000 Direct Staff Costs 37537.5% Direct Other 50 5% Contribution Profit 57557.5% Local O/H 34034% 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, an

52、y client projected at lower margins need to challenged 作资源分配计划时，客户contribution margin未达要求标准，我们应检讨 Do we need to re-negotiate compensation? 合约条件是否合理？ Are we over-servicing the revenues? 服务成本与收入是否成比例？ Are our out-of-pocket costs necessary? 外付成本的必要性？ How can we restructure account team? 是否要改变服务小组结构？,WP

53、P Group,WPP Group,Publicly traded on the UK and US stock exchanges 在美国、英国公开上市 Our owners / shareholders expect us to deliver continued growth in profits based on revenue growth with competitive margins 股东的期望 不断增加的利润 持续的成长 获利率符合市场竞争 OMW represents about 33% of the revenues and about 35% of operating

54、profits 奥美集团在WPP的贡献 收入33% 利润35%,1998 Competitive Performance,Revenue Growth Total,Organic Revenue Growth - Total,Revenue Growth - U.S.,Organic Revenue Growth - U.S.,Revenue Growth - International,Organic Revenue Growth - International,Staff Cost / Revenue %,Operating Margin % (including Equity),Oper

55、ating Profit Growth,Source: Advertising Age 1997 ranking,Worldwide rank by major market,Source: Advertising Age 1997 ranking,Worldwide rank by emerging markets,WPP Group ExpectationWPP 集团的目标,WPP is compared with Omnicom and IPG Their goal is to be the leader in the group 希望成为领导者 Currently they are s

56、lightly behind in margin, but just a year or two away 目前在利润的表现上尚有些微差距，但相距不远 They appear to be slipping in the revenue race 在收入的成长上差异较大,So what do they expect from OMW 在这样的目标下，对奥美集团的期望,15% Organic Profit Growth 利润的成长率15% Margin Improvement of 1% vs prior year. Greater improvement when revenue growth

57、exceeds 5% 获利率每年增加1%或收入增加5% Staff Cost to Revenue% improvement of 1% or more if S/R% exceed 58% 人员成本占收入比率每年降低1% 或更多如已超过58%,WPP Targets to OMW (Total Co),Revenue conversion of above budget / target revenues at 30% or better 收入转为利润率至少30% Flexibility in cost base 在成本上要有弹性,WPP Targets to OMW (Total Co),

58、OMW Targets,Planning Overview财务计划,Projecting and Controlling our current operating results is the key to our success 如何作好的预估加上好的控制是成功的关键 Identify trends before they happen 对会发生的事能更早预见 Plan for inherent risk in our revenue stream 对影响收入的风险早作计划 Create a cost base which can react to changes in revenue 发

59、展可对应收入改变的费用计 Investment must become profitable quickly 投资必须尽快获利 Increasing revenues should not be safety net which covers for weak cost control 增加的收入不应只是弥补费用的超支,OMW - 2000 Target Approach奥美全球如何决定各公司之目标,Look at each region to determine how to allocate profit target 先决定各区域之利润目标 Factors considered include: 考量因素包括 Expected revenue growth in region 成长空间 Recovery / Under-performing units 是否有绩效不如理想之事业单位 current margin levels 目前利润产出 Known opportunities in markets/clients 已知之成长机会点 stage in units life-cycle 各事业单位之发展阶段,P&L Model - Unit,Expe