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Introduction
World class organisations have a new vision for the role of the Chief Financial Officer (CFO) and the finance function as key business partners, the most enlightened companies are already well on the road to realising this vision. In the globally competitive world of the 21st century an organisation can only hope to succeed if the finance function can shake off its traditional ‘back-room’ image and partner and engage with the organisation to help to build a critical competitive advantage in some key areas.
This leading-edge training course explains:
The big challenges facing today’s CFO and finance team
The role of the 21st century finance in
Creating and delivering value to key stakeholders
Providing enterprise performance management systems
Strategic activity based decision making
Identifying and managing risk
Developing vision and team leadership in the finance function
Objectives
The objectives of the training seminar are to enable delegates to:
Identify the challenges facing the 21st century finance function and develop the concepts and tools to participate in the transformation of the finance function in to a value focused business partner
Develop strategic thinking, understand and participate in the strategic management process, to develop their company’s vision and values and carry out strategic financial analysis and planning
Understand the process by which their organisation creates and delivers value to its key stakeholders and help to develop the right tools to facilitate and assist this process
Understand and manage the drivers of shareholder value, develop and implement powerful Enterprise Performance Management (EPM) systems in their own organisations
Understand how the finance function can add value through effective risk management using up to date key driver forecasts for sensitivity analysis and risk management strategies
Improve organisational decision making using modern approaches to understanding cost behaviour and value pricing, understand how Activity Based Management (ABM) is key to this
Understand the importance of visionary leadership in transforming the role of the finance function
Consider and select key areas for finance function process improvement
Training Methodology
The training course is structured as a highly participative workshop with formal presentations, case studies and interactive worked examples. Relevant examples and case studies are provided to illustrate the application of each of the topics covered and opportunities are provided to learn and practice the use of powerful modern finance skills and tools, reinforced with practical examples and exercises.
Organisational Impact
The organisation will gain through:
A finance insight in to the challenges facing the organisation and its finance function, CFO’s and finance managers taking the key steps to the role of value focused business partner
CFO’s and finance managers thinking strategically and adding value through participation in developing organisational vision and strategy and through strategic financial analysis and planning
A raised awareness of the process by which value is created and delivered to its key stakeholders, the benefit from using powerful tools to facilitate and assist this process
CFO’s and finance managers assisting in the development of Enterprise Performance Management (EPM) systems to link strategy to key operational processes and control their execution
Added value through effective risk management using up to date key driver forecasts for sensitivity analysis and risk management strategies
Improved organisational decision making at all levels using Activity Based Management (ABM)
Improved leadership in the finance function and streamlining of key finance processes
Personal Impact
Delegates will address the challenges facing the 21st century finance function and will have the opportunity to learn about, discuss and share experience and expertise with other finance professionals facing similar challenges. The training course is focused on the key business finance issues of the day, and the future, and gives delegates the opportunity to learn about and practice some of the leading edge finance concepts and tools, including:
Strategic analysis: Porter’s five forces, PESTLE, SWOT, risk analysis, value chain analysis
Strategic themes and strategy maps
Return on investment (ROI), Economic Value Added (EVA), Shareholder Value Added (SVA)
Activity Based Management (ABM) Activity Based Costing (ABC) and Budgeting (ABB) methods
Business information dashboards
Rolling forecasts and key driver ‘what-if’ and cash flow forecasts
Enterprise Performance Management (EPM) systems
Who should Attend?
Chief executives and Chief Operating Officers of companies and business divisions
Finance Directors, Chief Financial Officers and Financial Controllers
Financial Managers and other finance professionals and accountants
Strategic planning managers and budget officers
Managers being prepared or with the potential to assume key finance posts in the company
Course Outline
Day 1
21st Century Challenges for the Finance Function
The burden of detail and compliance
The increasing pressures on time and cost
Key questions for the 21st century CFO
The ‘T’ shaped finance professional as business partner
The modern finance toolkit
Day 2
Finance Role in Creating and Delivering Value to Key Stakeholders
Understanding the strategic context of the challenge
Defining organisational vision and values
Using strategic analysis tools
Defining and developing a winning business model
Formulating the right strategy for the business and the parent
How a strategic approach to finance adds value
Using the right tools: balanced scorecards
Day 3
Enterprise Performance Management (EPM) Systems
Defining and delivering shareholder value
Why 70% of organisations fail to achieve planned success
Using a Performance Management System to link strategy to operations
Understanding and using strategic themes and maps
Understanding and defining key financial objectives and their drivers
Mapping shareholder value improvement to organisational improvement areas
Practical tips on identifying key success factors (KSF’s)
Defining and building a balanced scorecard four your organisation
Developing key performance indicators (KPI’s) and key results indicators (KRI’s)
Using the right tools: Economic Value Added (EVA) Shareholder Value Added (SVA)
Day 4
Strategic Activity Based Decision Making
Understanding cost behaviour
The shortcomings of traditional approaches to calculating profit
An activity based approach to understanding cost behaviour
A strategic approach to pricing products and services
Calculating the profitability of customers, products and services
Strategic activity based decision making
Strategic cost reduction
Using the right tools: Activity Based Costing (ABC) and Budgeting (ABB)
Case study: using ABC to improve decision making
The shortcomings of and alternatives to traditional budgeting systems
Day 5
Identifying and Managing Risk
Defining and identifying risk
Classifying and understanding risk
Treating and managing risk as an opportunity
Quantifying and evaluation risk
Using risk to inform investment decisions
Using effective investment appraisal tools
Identifying key risks and key business drivers
Designing and using forecasts to manage risk
Designing and using forecasts to manage cash flow
Best practice in using Excel™ forecasts for effective decision making
Using the right tools: Discounted Cash Flow models, PESTLE analysis
Case study: using Excel™ to build a ‘what if’ key driver forecast
Day 6
Leading and the 21st Century Finance Function
The role of the visionary CFO
Why 21st century organisations need more leaders
Understanding the importance of organisational culture
Challenges and approach to managing change
Building and leading the winning team
Day 7
Improving Finance Function Systems and Processes
Transforming the finance function: back office to front line
Executing a ‘fast close’ to improve finance resource usage
Why world class organisations are moving to shared services
A decentralised approach to organisational management
Beyond Budgeting: Adaptive Management Processes
Using the right tools: implementing rolling forecasts
Case study: Handelsbanken – leaders in decentralised decision making
Certificates
On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates.
Continuing Professional Education credits (CPE): In accordance with the standards of the National Registry of CPE Sponsors, one CPE credit is granted per 50 minutes of attendance.
Providers
Endorsed Education Provider
Frequently Asked Question:
GLOMACS offers both online andperson training options. You can choose from interactive virtual sessions or attend one of our globally locatedperson training courses. The flexibility ensures that learning fits your schedule and preferences.
Yes, GLOMACS provides customized training solutions tailored to meet the specific needs of organizations. We work closely with companies to design bespoke training courses that address their unique challenges and objectives.
Our courses are structured to provide a balanced mix of theory and practical application. They typically include presentations, case studies, group discussions,on activities, and interactive Q&A sessions to maximize learning outcomes.
For detailed information about specific courses, including course content, schedules, and instructors, you can visit our website or contact our customer service team. They will be happy to provide all the information you need to make an informed decision.
You can register for a GLOMACS training course by visiting our website, selecting the course of your choice, and following the simple registration process. You can also contact our support team for assistance with the registration process.
Attending a GLOMACS training course offers numerous benefits, including enhanced professional skills, increased employability,recognized certification, networking opportunities with peers and experts, and the chance to apply practical knowledge directly to your workplace.
GLOMACS is a globally recognized leader in professional training and development, with a reputation for deliveringquality,driven training courses. We offer a broad spectrum of training courses taught by expert trainers, flexible delivery options (both online andperson), and accredited certifications that add real value to your career.
Yes, upon successful completion of any of our training courses, GLOMACS Certificate will be awarded to the delegates. This certificate is a valuable addition to your professional portfolio and is recognized across various industries.
