广州奥美财务培训-07p

1、广州奥美财务培训O&M Guangzhou FinanceTrainingFinance TrainingObjectives of the training:-K KnowledgeHow do we make money / lose moneyWhat is the cost / profit standardn Industryn O&MWhat can you do to help improve our profitabilityFinance TrainingS SkillHowdoyouknowyourclientsprofitability-capacity plan, an

2、alysis of contribution marginA AttitudeWe are businessman / businesswomanEveryone has a role in helping the company profitableFinance discipline is part of our professionThe BusinessMake Money for TodayOur business by its nature is Short-term我们生意的特质是相当短期的Im not talking about brand building .rather h

3、ow 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。Make Money for Today Clients come and go, reduce/cut budgets with little tono 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 effectivelyworking for free在第四季删减预算意味着我们的工作是免费的 We do not manufacture a product, our c

4、apital 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 Constantly changing business landscape does notallow us to accept under-performing operations面对着如此大的变化，不获利的营运是无法被接受 Service businesses are expected to show consistent earnings growth.服务性的公司必须要

5、有持续获利的成长创业的精神The Entrepreneurial ApproachEntrepreneurialApproachIf 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让你的员工坐着等新生意上门negotiate contracts that were unprofitable接受无法获利的合约Entrepreneuri

6、alApproachinvest in training employees who leave for better opportunities投资于训练员工，他们却离开去寻找更好的机会。make long-term binding financial commitmentsthat 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 wouldnot pay for免费提供服务给客户。Running The BusinessThe Basics f

7、or Running this BusinessKeep Overhead Low! Negotiate flexibility争取弹性 Leverage price advantage where possible运用“量”的优势 Dont build administrative empires降低营运成本不要形成管理系统-Accountability会计责任AccountabilityMANAGEMENT ACCOUNTING is moreimportant to management than Statutory accounting?对管理者而言，管理会计更重要 Improveme

8、nt in the financial ratios requires a true understanding of how we are performing financiallyon each client.要在财务上有所改善，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 marginbutAccounting 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 e

9、mployees to recognize its importance所有的员工必须认知其重要性 Time reporting must be accurate and complete日报表要完整及准时Accounting for Time有关时间成本Methods Time Sheets Time Allocations日报表的填写工作时间的分配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,

10、 Production,etc)部门主管Accounting for Costs成本Costs fall into Three Categories:成本可分为三大类 Chargeable to Client Not Chargeable to Client费可向客户收费不可向客户收 Overhead营运成本Every $ we spend should be categorized in one of these buckets花每一笔钱时，评估一下属于哪一种成本Chargeable to Client可向客户收费的成本Basically these are: Direct Staff Co

11、sts直接工作人员成本 Out of Pocket Expenses外付费用Direct Staff is 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Chargeable to Client可向客户收费的成本Out of P

12、ocket: Let the contract be your guide外付费用依合约行事 Get client to agree in advance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Not Chargeable to Client不可向客户收取之的成本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 payfor it, is itnecessary!Overhead营运成本Ev

13、erything we do which is not directly related to a clients business is Overhead.与经营客户不直接相关的 Establishment (leased premises)房租例如 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 goalStandard Costs vs

14、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 paidAllocated Costs takes the exact amount that an employee gets paid and alloca

15、tes 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 tieStandard Costs vs Allocated Costs标准成本与分配成本Example:- Monthly salaries : 1,600 Standard monthly working hours : 160 Hourly rate : 10 Actual working hours : 200Standard cost : 200hrs * 10/hr =

16、 2,000Allocated cost : still at 1,600If we use allocated cost as a basis to charge client, then we under-bill the clientWhy 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 negotia

17、tions提供与客户沟通合约条件时的重要资讯 Enables you to set standards, for each employee, manager and account有助于设立标准Enables performance comparisons:有助于评估绩效 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, officeWho Should be Accountable这些是谁的责任Accountabili

18、ty needs to 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 fortheir 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 re

19、source plan绩效与资源分配计划 Accuracy of revenue forecast实际与预估的收入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 Utilization rate可收费的工作小时数产能利用率Each Staff member r

20、eports to a department manager who is accountable for his groups performance in the above two areasEach department manager is responsible for his own and group performance 部门责任制如何善用科技Use Technology for ProfitTechnologyWe 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 b

21、usiness should be based on cost / reward or ROI (Return on Investment) 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？TechnologySo if we dont do ROI, what should we d

22、o before we invest?如果我们无法作ROI，投资前该如何评估？Prepare an informal 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，而且他们乐于付费的

23、？What will it cost us if we dont get the equipment-TechnologyQuantify 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 mostFigure 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 savin

24、gs成本的节省 or create competitive 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TechnologyWe 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 ModelFinancial ModelThe Traditiona

25、l P&L:传统的盈亏分析 Billings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 Overhead Allocation部费用）一般管理人员成本区域成本（摊分总Financial ModelExample to Revenue ConversionY

26、ear DifferenceRevenue 300Op profit200019991,3001,000200100100Revenue conversion 100/300 * 100% = 33.3%Financial ModelIn 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 differen

27、t in each market due to:各市场在下列之成本结构不同，所以获利要求也可能有些调整。 Costs of Staff (ExPats, Social taxes, salaries) Costs of Real estateP&L Model - UnitExpected Office margin before bonus and O/H should be 25% - 30%:RevenueStaff Costs (pre-bonus)45%)Establishment Costs All Other CostsPft bef. Bonus & O/HO/H1,00047

28、047% (Tgt70190270707%19%27%7%Client ProfitabilityClient 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 on the account成本服务于客户的人员Out-of-Pocket costs外付成本(与服务客户相What should we know ? D

29、irect Staff Costs (直接人员成本): 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% o?与产出收入有直接关系的人员 Direct Other Costs (其它直接成本): ar

30、e 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，且无法向客户收取的What should we know? Contribution Profit : represents Revenues less Direct Staff & Direct Other Cost Contribution Margin % : Contribution Pft / Revenue Target should

31、be 60% Local Overhead (本地营运成本): represents all of the costs of running an office which can not be directly attributed to a client.与服务客户非直接相关的办公室营运成本(allocated on Direct staff)These include :Indirect Staff: GeneralManagement, Finance, Back office, Administrative staff, etcEstablishment; Insurance, Le

32、gal, Training and all other costs of doing business not directly attributable toclientsWhat 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 the regions, OMWand central client teams (allocated based on revenues) Operating Profit (营运利润): Contrib

33、ution Profit less Local O/H and Reg/OMW/WCS O/HThe 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:RevenueDirect Staff Costs Direct OtherContribution Profit Local O/H1,0003755057534037.5%5%57.5%34

34、%Reg/OMW/WCS O/H 3.5%35Contribution 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

35、？ 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？WPP GroupWPP GroupPublicly 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

36、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 profits奥美集团在WPP的贡献收入33%1998CompetitivePerformanceRevenue Growth Total35%31.0%30%25%20%14.7%15%11.9%10.1%8.9%7.9%10%4.2%3.1%5%0%OMWJWTWPPOmnicomIPGTNY&RGrey18%15.9%16%14.8%14%12%8.9%10%7.7%7.5%8%6.6%6%4.2%3

37、.1%4%2%0%OMWJWTWPPOmnicomIPGTNY&RGrey29.8%30%25%20%17.3%15.2%15%11.4%11.0%9.9%8.2%10%5%0.1%0%OMWWPPIPGY&R17.3%17.3%18%16%14%11.4%11.5%12%9.9%10%8.2%8%6.4%6%4%2%0.1%0%OMWWPPIPGY&R35%32.2%30%25%20%14.1%15%12.4%11.6%8.1%10%6.1%3.5%5%2.0%0%OMWJWTWPPOmnicomIPGTNY&RGrey20%18.0%14.3%15%11.6%10%8.1%6.8%5.4%

38、5%2.0%0%-1.0%-5%OMWJWTWPPOmnicomIPGTNY&RGrey65%64.1%62.2%60%59.4%59.0%56.4%55.8%55.6%55%49.7%50%45%40%OMWJWTWPPOmnicomIPGTNY&RGreyOperating Margin %(including Equity)16%15.7%15.1%15.0%14.6%14%12.8%12%11.6%11.3%10%8%6.6%6%4%2%0%OMWJWTWPPOmnicomIPGTNY&RGreyOperating Profit Growth109.4%97.2%40%36.0%36.

39、0%30%21.5%20%15.4%10%2.6%0%-10%-15.6%-20%OMWJWTWPPOmnicomIPGTNY&RGreyRank OMank WPP 525322213Rank OMC 131131121Rank IPG 314213332Y&R 446664654Australia Brazil France Germany Italy Netherlands SpainUK USASource: Advertising Age 1997 rankingRank OMW13266Rank WPP 1132Rank OMC 23N/A 3Rank I

40、PG 3261Y&R 85124Greater China IndiaJapan MexicoEastern Europe: RussiaPoland Hungary Czech4124833481223211181033Source: Advertising Age 1997 rankingWPP 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 slightly behind

41、inmargin, 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 raceSowhat do theyexpect fromOMW在这样的目标下，对奥美集团的期望C15% Organic Profit Growth利润的成长率15%Margin Improvement of 1% vs prior year. Greater improvement when revenue growth获利率每年增加1%或收入exceeds 5%增加5%Staff Cost t

42、o 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 CoRevenue 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OMW TargetsPlanning Overview财务计划Projecting and Controlling our current operatin

43、g 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 sho

44、uld not beOMW - 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: 考虑因素包括 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 marke

45、ts/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 - UnitExpected Office margin before bonus and O/H should be 25% - 30%:RevenueStaff Costs1,000470701902707020047% (Tgt 45%)7%19%27%7%20%(pre-bonus)Establishment Costs All Other CostsPft bef. Bonus & O/H O/HProfit before BonusBudgetingBud

46、get - OMW Expectations如何作预算Revenues are identified by client先确认个别客户的预期收入Bottoms-up staffing plans are prepared to support a minimum return on each client在设定的客户获利标准下，决定可支持的服务人员成本All central office costs are reviewed for efficiency and waste is eliminated跨公司的成本谨慎评估Budget - OMW Expectations如何作预算Plans a

47、re developed to reduce excess capacity identified above尽量减少产能的浪费Zero-based cost build-up (not just prior year+x%)由零开始成本预估Certain costs such as: salary & headcount increases, freelance and T&E are variable and give office some room to operate营运的弹性薪资及人数在必要时可增加，外Budget - OMW ExpectationsWhat do we look

48、 at:一些特别值得注意的项目 Year on Year movement in cost逐年成本的改变 Impact of unusual / extraordinary items特别 Phasing成本对当年的影响分阶段企划的必要性especially staffing which does not match revenue timing Office expectations vs Market projections整体市场的状况Revenue GrowthCost InflationSalary Increases市场的成长成本的上升薪资水平的上升Budget - OMW Exp

49、ectationsBudgets are submitted meeting both regional and worldwide expectations for: 预算力求在下列项目上达到标准 Revenue Growth收入成长 Profit Growth利润成长 Margin Improvement利润率之改善 S/R% improvement人员成本率之改善 Productivity Improvement (Revenue/ Head)生产力之改善Budgeting - The ProcessThe 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 mar