© 2005 KPMG LLP, a UK limited liability partnership and the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. The KPMG logo.

Slides:



Advertisements
Similar presentations
Strategic Value of the HR Function Presentation by
Advertisements

HR Manager – HR Business Partners Role Description
NZ Navigator Ministry of Health NGO Health and Disability Sector National Forum 14 March 2014.
A clear and compelling business case… …for the individual
Governors’ Briefing Coleg Gwent, Ystrad Mynach College and University of Wales, Newport July 2010 Education ADVISORY.
0 © 2009 KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and a member firm of the KPMG network of independent member firms.
CIPD Profession Map Our standards and your professional development.
CIPD Profession Map Sarah Koppen Profession Map Project Executive
Public Private Partnerships: What’s in it for my Government? 14 July 2011 Malcolm Butterfield.
Start-ups & big business Competition or competitive advantage? Imperial Business Insights Lecture 13 February 2014.
Institute of Operational Risk Breakout Session - Operational Risk Nirvana KPMG Giles Triffitt Peter Watson Peter Docherty 1 November 2013.
Improving Your Business Results Six Sigma Qualtec Six Sigma Qualtec Six Sigma Qualtec – All Rights Reserved June 26, 2002 BEYOND SIX SIGMA: A HOLISTIC.
1.
KPMG’s Abilities in Motion Network USBLN Annual Conference October 2012 kpmg.com.
© 2004 KPMG LLP, a UK limited liability partnership and the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. The KPMG logo.
Making the Public Sector Finance Function More Strategic Presented to the Financial Management Institute of Canada - Ontario Chapter FMI Ontario – Controllership.
IT Governance Navigating for Value Michael Vitale 6 May 2003 CIO Conference Steering the Enterprise Through Stormy Seas Image source: Access2000.
PwC Role of Internal Audit in Corporate Governance September 2010 Tumin Gültekin, Partner.
One Firm. One Team. Countless Opportunities. Baruch College Come out to network and learn more about a career with KPMG that is far beyond coding !
ΒΗΜΑ ΤΩΝ ΕΠΙΧΕΙΡΗΣΕΩΝ AUEB March 2015.
Learning and Development Shaping and managing the L&D function
AFROSAI-E COOPERATION WITH WGITA African Organisation of English-speaking Supreme Audit Institutions.
1 1 OLACEFS Santiago, Chili 9 – 12 December 2013.
PLR Investment Advisors LLP. PLR is a professionally managed firm. The team consists of distinguished professionals from the field of finance, accountancy,
RSA – Accenture Insurance Solution
© Copyright 2015, Cardinal Health. All rights reserved. CARDINAL HEALTH, the Cardinal Health LOGO and ESSENTIAL TO CARE are trademarks or registered trademarks.
QAD's Customer Engagement Dan Blake Consultancy Development Director, QAD QAD Explore 2012.
Tax Transformation: What does it mean to you?
0 © 2013 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative.
IT Internal Audit Survey Overview of survey findings May 2009 IT ADVISORY ADVISORY.
CIPFA North West – Audit & Governance Group Autumn Seminar Regeneration Schemes 11 October 2013 Neil Bellamy, Director.
Dr. Jana Jagodick Polytechnic of Namibia, 2012 Project Management Chapter 3 Project Management for Strategic Goal Achievement.
KPMG-Refugee Council Partnership Deb Conner and Nicole Masri 4 December 09.
AUDIT FEI Career Management Group Qualifications for a Successful CFO/Controller in Today's Market December 3, 2009.
North American Accounting Society Developing the Auditor of the Future.
SESSION 5: Competitors and Organisational and legal structure.
KPMG’s 2012 National Faculty Symposium Building Partnerships with Academia June 26–27, 2012 | New York, NY.
Commissioning Self Analysis and Planning Exercise activity sheets.
0 © 2006 KPMG LLP, the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. This document is confidential and its circulation.
Review of the Transparent Approach to Costing A report by KPMG for HEFCE.
Chapter 6 Team Work Blueprint By Lec.Hadeel Qasaimeh.
Factors Associated with IT Audits by the Internal Audit Function Discussant Comments October 2, 2009 INFORMATION RISK MANAGEMENT ADVISORY.
Session III: Current Uses of XBRL Tagged Data April 26, th KU International Conference on XBRL Transparency, Assurance and Analysis kpmg.com.
Copyright © 2007 Alsbridge plc. All rights reserved. Global Sourcing Masterclass: Transforming the HR Function HRO Insights and Key Success Factors from.
1 Introduction to the IMC Organization. IMC – The pluses make the difference 2 IMC Corporate Introduction + An established and fast-growing global consultancy.
We provide web based benchmarking, process diagnostics and operational performance measurement solutions to help public and private sector organisations.
We provide web based benchmarking, process diagnostics and operational performance measurement solutions to help public and private sector organisations.
Annette Rosta Associate Director Recruiting Diversity & Compliance KPMG Career Center Navigating Career Web Sites February 2012 Annette Rosta Associate.
Corporate Services Restructuring 31 March Introduction  The AG completed the restructuring of Corporate Services in November 2005  The restructuring.
© 2012 KPMG LLP, a U.S. limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International,
© 2005 KPMG LLP, the Canadian member firm of KPMG International, a Swiss cooperative. All rights reserved. Family Business Succession Managing the All.
KPMG GOVERNMENT INSTITUTE The Future of Government Financial Reporting: Where Do We Go From Here? AGA Baltimore Chapter AUDIT Andrew C. Lewis, CPA, CGFM,
Source: Article reprinted from 2014 Cloud Survey Report, Copyright: KPMG LLP © 2015, a Delaware limited liability partnership and the U.S. member.
ERM and Information Risks July 2013 Advisory. 1 © KPMG, a partnership established under Ghanaian law and a member firm of the KPMG network of independent.
2011 KPMG / AAA IFRS In The Accounting Curriculum Survey October, 2011 AAA Education Committee and KPMG LLP.
Workshop 4: Developing a one page business case
Case for the Cloud How SaaS Solutions Can Help Transform Finance
L4 Certificate in Housing Practice
Packaging the Value Proposition of the SSC Satish Paul
BLHC Funds Flow Plan Steering Committee
Managed Content Services
Rethinking classroom design
MAZARS’ CONSULTING PRACTICE Helping your Business Venture Further
MAZARS’ CONSULTING PRACTICE Helping your Business Venture Further
MAZARS’ CONSULTING PRACTICE Helping your Business Venture Further
MAZARS’ CONSULTING PRACTICE
AFROSAI-E COOPeRATION WITH WGITA
MAZARS’ CONSULTING PRACTICE Helping your Business Venture Further
MAZARS’ CONSULTING PRACTICE Helping your Business Venture Further
Think Active Board Induction 2018
Presentation transcript:

© 2005 KPMG LLP, a UK limited liability partnership and the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. The KPMG logo and name are trademarks of KPMG International. Measuring the finance function Measuring the finance function National Accountants Conference 2005 Mark Hankins

2 © 2004 KPMG LLP, a UK limited liability partnership and the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. Agenda Why measure performance? Why benchmark? Process maturities and better practices Practical steps

3 © 2004 KPMG LLP, a UK limited liability partnership and the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. Why measure performance? To improve performance levels to support the organisation’s business and finance strategies

4 © 2004 KPMG LLP, a UK limited liability partnership and the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. Why measure performance? To improve performance levels to support the organisation’s business and finance strategies You only get value from measuring performance when you improve performance. And that takes management action.

5 © 2004 KPMG LLP, a UK limited liability partnership and the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. Why Benchmark? Performance Time Gap Benchmarking identifies and calibrates the gap Current performance Best-in-class performance

6 © 2004 KPMG LLP, a UK limited liability partnership and the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. Why Benchmark? Performance Time Gap Benchmarking identifies and calibrates the gap Current performance Best-in-class performance Benchmarking helps set goals

7 © 2004 KPMG LLP, a UK limited liability partnership and the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. Performance Time Gap Benchmarking identifies and calibrates the gap Current performance Best-in-class performance Benchmarking helps set goals Benchmarking helps to measure success in closing the gap Why Benchmark?

8 © 2004 KPMG LLP, a UK limited liability partnership and the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. Performance Time Gap Benchmarking identifies and calibrates the gap Current performance Best -in-class performance Benchmarking helps to measure success in closing the gap Benchmarking maintains the stimulus for continuous improvement Benchmarking helps set goals Why Benchmark?

9 © 2004 KPMG LLP, a UK limited liability partnership and the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. Process maturities and better practices Process maturities are a self review of your current processes focusing on: Process strategy; Relationships; People; Process; Systems. Process maturities allow us to clarify where we are and where we want to be

10 © 2004 KPMG LLP, a UK limited liability partnership and the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. Process maturities and better practices Better practices tell us what other people are doing in terms of managing: Process strategy; Relationships; People; Process; Systems. Better practices allow us to clarify how we can get to where we want to be

11 © 2004 KPMG LLP, a UK limited liability partnership and the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. Process maturities Average Score Standard deviation Strategy Relationships People and resources Process Systems

12 © 2004 KPMG LLP, a UK limited liability partnership and the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. Process maturities Now Desired future state Current initiatives Appetite for change IT enhancement review New skills and training Technology solutions Process maturity and adaptability better practice and world class finance 0 2 5

13 © 2004 KPMG LLP, a UK limited liability partnership and the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. Process maturities POORAVERAGEEXCELLENT Relationships and structure *Finance perceived as the scorekeepers by the rest of the organisation. *Finance perceived as the professional advisors or functional experts, but only concentrating on financial matters. *Finance seen as specialist team members who are an integral part of the business team and understand all aspects of the business. *Finance do not actively participate in the future direction of the business. *Finance perceived as the professional advisors or functional experts, but only concentrating on financial matters. *Finance seen as business partners who are actively involved in the strategic issues facing the business. *Each location has its own finance function providing the majority of financial services. *Some centralisation of finance functions across locations. *All financial processing centralised, either in a shared service or outsourced. Finance managers support the business decision makers through close liaison.

14 © 2004 KPMG LLP, a UK limited liability partnership and the UK member firm of KPMG International, a Swiss cooperative. All rights reserved.  Linkage to business strategy  Predictive capability  Delivers insight  Balanced measurement  Technology leverage  Use of analyst resources  Ease of access  Cost  Cycle Time Better Practice Right content / Poor execution Cheap, fast but not useful Better practice High Low Value Efficiency Better Practices is synonymous with a well-managed business

15 © 2004 KPMG LLP, a UK limited liability partnership and the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. Practical steps Decide what you are trying to achieve Agree the level of benchmarking –High-level to understand the business case –Detail to identify specific process improvements Use maturity profiles to be honest about the current position Identify a number of best practices and the benefits they bring

16 © 2004 KPMG LLP, a UK limited liability partnership and the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. Practical steps Track the benefits –Implement a reporting structure that shows the benefits Start again

17 © 2004 KPMG LLP, a UK limited liability partnership and the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. Practical steps Track the benefits –Implement a reporting structure that shows the benefits

18 © 2004 KPMG LLP, a UK limited liability partnership and the UK member firm of KPMG International, a Swiss cooperative. All rights reserved. Practical steps Assess Identify Improve