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 ourprofitability,S Skill How do you know your clients profitability - capacity plan, ana
2、lysis 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 about b
3、rand 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 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著我们的工作是免费的 We do not manufacture a product, o
4、ur 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 notallow 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 show consistent
5、 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 contracts that were
6、 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 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 would not pay for免费提供服务给客户。,Entrepreneurial
7、 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, & collect your money
8、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不要形成管理官僚系统,The Basics for
9、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 performance vs standards评估现况与标准值之差异
10、 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. teams are expensive & O/H用既有的员
11、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 Investigate all alternatives 其他的途径 avoid
12、 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 Clients should accept that we need to mak
13、e 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 the work we do, assures client commitmen
14、t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不断地确认预算的状况 Equate level of service to expected reven
15、ue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 which in effect means we have worked for free客户在第四
16、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 how to bill for technology electronic file transfers,
17、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 Dont finance your clients by paying for media, etc. before
18、 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, Collect. Aged balances are trouble.帐龄太长容易造成麻烦,Accountability
19、 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
20、 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 Value of Finance Team = Quality Client Data财务人员的价值在於其提供资讯的品质 Bu
21、siness 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 be accurate and complete日报表要完整及准时,Accounting for Time 有关时间成本,Method
22、s 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 Three Categories:成本可分为三大类 Chargeable to Client 可向客户收费 Not Chargeable
23、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 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 o
24、n 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 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,Cha
25、rgeable 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 directly related to a clients business is Overhead.与经营客户不直接相关的 Establishmen
26、t (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效率,Standard Costs vs Allocated Costs 标准成本与分配成本,Standard Costs assigns a
27、$ 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 employee gets paid and allocates that over the hours actually worked分配成本员工的总成本
28、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 Actual working hours : 200 Standard cost : 200hrs * 10/hr = 2,000 Allocat
29、ed 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 of 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 i
30、s 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 Productivity 生产力 Employee reward expectation 员工对报酬期望的改变,Standard Costs vs Allocated Cos
31、ts 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 you to set standards, for each employee, manager and account有助於设立标准 Enabl
32、es 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 reach everyone每一个人的责任 Everyone should be evaluated against established
33、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 resource 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
34、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 Utilization rate 产能利用率 Each Staff member reports to a department manager who is
35、 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 his account 收费小时数 Out of Pocket cost on his account 外付成本 amounts billed
36、 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 similar to this model. Commission compensation makes the revenue stream m
37、ore 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 Investment)所有的决策应依据投资/报酬分析 When was the last time you submitted a ROI calculat
38、ion 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 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 sa
39、ve 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
40、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 competitive advantage which adds value to the agency (justify : be critical) 因为价值的提升造成
41、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 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
42、 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 Revenue Growth % 收入成长率 Staff cost / Revenue % 人员成本占收入比例 Operating Profi
43、t 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 ConversionYear 2000 1999 Difference Revenue 1,300 1,000 300 Op profit 200 100 100 Revenue conversion 100/300 * 100% = 33.3%,Financial Model,Financial Mode
44、l,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，所以获利要求也可能有些调整。 Costs of Staff (ExPats, Social taxes, salaries) Costs of Real
45、 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/
46、H 70 7% Profit before Bonus 200 20%,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 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) Contr
47、ibution 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, Account Management, Production, and any other individuals who w
48、ork 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，且无法向客户收取的,What should we know?,Contribution Profit : represents Reve
49、nues 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 the regions, OMW and central client teams (allocated based on rev
50、enues) 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% as follows: Revenue 1,000Direct 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%,
