17-20 October 2022
Virtual Instructor Led Training
Overview
Immerse in the Kexxel experience digitally as we introduce our Virtual Instructor Led Training (VILT) courses into our prestige learning portfolio. Our virtual classrooms welcome a small group of executives in an intimate yet dynamic learning setting, facilitated by our handpicked selection of subject matter experts and industry thought leaders as your instructors.
COURSE FACILITATOR
LINDSAY DEWBERRY
Workshop Leader Financial Management and Accounting
About
Lindsay is the Managing Director of Panache Training & Consulting, A creator and presenter of financial management webinars for the Australian Institute of Company Directors directed towards directors of NFP’s.
Achievements
Lindsay is the Managing Director of Panache Training & Consulting.
He has a strong finance and accounting background, having gained significant expertise in the areas of financial management, performance measurement, and external accounting.
A creator and presenter of financial management webinars for the Australian Institute of Company Directors directed towards directors of NFP’s.
Agenda
BEYOND BUDGETING
Module 1: Background and Concept
The problems of traditional budgeting and why this is no longer a sensible way forward
The history and development of Beyond Budgeting
The overall concept and benefits
Linkage to rolling forecasts as opposed to traditional budgeting
Module 2: Beating The Competition, NOT The Budget
The leadership and management principles of Beyond Budgeting
EXERCISE Assessment of your organisation against BB principles
Understanding what is the competition and how to focus on competitive success
Practical examples of competitive focus – how to begin the pivot to Beyond Budgeting
Module 3: Rewarding Competitive-based Team Success
Companies that have abandoned traditional budgeting
Using “BB” to create a positive team culture, rather than a silo-mentality
The practicalities of using BB principles
CASE STUDY Examples
PRACTICAL IMPLEMENTATION OF ROLLING FORECASTS
Module 1: Concept and Rationale
Why traditional backward-looking performance management is not what businesses require in a fast-changing world
Comparing Rolling Forecasts and Full Year Reforecasts
Replacing traditional budgeting?
How “RF” fits with business planning and financial budgeting
Module 2: Designing a Rolling Forecasts management system
The seven key decision points to create a workable RF management system
Working examples of both Rolling Forecasts and Full Year reforecasting
Coaching management in the use of RF – it won’t happen by accident…
EXERCISE Designing a RF output report: Template will be provided
Module 3: CASE STUDY Examples of success usage of RF
Designing and deploying a Rolling Forecast system in a large Asian manufacturer
Designing and deploying a Full Year Reforecast system in a major European Bank
Lessons learnt and potential problems to be avoided
THE ROLE OF FINANCE AS A STRATEGIC BUSINESS PARTNER
Module 1: Introduction and Key Challenges
Strategy Management: an overview of the main components
Strategic Business Partnership
The required skills and behaviours that distinguish a partnership from command-and-control
CASE STUDY SE Asia conglomerate using a “Finance Function Scorecard”
Module 2: Organisational Challenges
Roles and structure within the Finance function, and the interface and relationships of Finance
Different classes of ownership and the consequent impact on SBP
CASE STUDY
Module 3: Tools and Techniques
The common tools, techniques and analyses that support good SBP
The strategic management system: thinking, planning and successful execution of that strategy.
Ensuring that finance can add value to, each step of the strategy management system.
CASE STUDY Using cost and service profitability analysis
IMPLEMENTING A COST REDUCTION PROGRAMME
Module 1: The Strategic Context for a Cost Programme
Understanding the overall business strategy, including response to “disruption” from Covid-19
Establishing a clear Cost Strategy incorporating relevant cost targets
Ensuring that ALL costs are under scrutiny nothing should be off-limits
The need for management understanding and engagement, not just detailed cost analysis
Module 2: Successful Cost Management: Tools & Techniques
Using Activity Value Analysis and Activity Based Costing
The use of “simplified ABC” as the first stage of improving cost analysis
The Cost of Capital – and WACC
Designing in cost efficiency into new products & services, supported by effective “capex”
Module 3: Examples of Implementing a Successful Cost-Efficiency Programme
Automobile manufacturers who build in cost efficiency into new model designs
What we can learn from successful budget airlines
Many businesses try to cut costs through across-the-board 10% cuts to everything.
That cuts into both fat and muscle.
