Centralized Services Update Finance Information Technology Risk Management.
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Transcript of Centralized Services Update Finance Information Technology Risk Management.
Centralized Services Update
FinanceFinanceInformation TechnologyInformation Technology
Risk Management Risk Management
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• Immediate reporting of claims allows us to reduce claim costs and insurance premiums
• Informal Information gathering The earlier the better Way more cost effective We can help guide the investigation Be cordial and diligent
Risk Management
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Risk Management• Formal claim handling
Advise claimant that the risk manager will be contacting them You should record:
Date of loss (DOL) How the accident happened including any injuries or damage Type of OPW equipment involved Contact information of claimant Ask questions while accident is fresh Take photos, if possible Do not make any statements about fault or make any
commitments to anyone You are only there to collect information
Ask the owner to remove the equipment from service and preserve properly Do not send an email – Call the Risk Manager immediately at 513-382-9835 Send your report/notes via US mail No opinions please Anything written down may end up in court!
When selling improved features and benefits, please emphasize that both products are “reasonably safe”
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• Gift approval• Import/Export specialist• Ethics – a safe sounding board• Facilitating approvals for entertainment of
government controlled entities• Internal audit, controls and investigations as
needed
Internal Controls
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• Improving visibility on high risk international orders Please provide notification prior to order booking if
Customer requests “special” pricing Commission is included in pricing Installation is included in pricing (may obligate OPW) Gross margins very low – 10% under normal for the product
Request for unusual routing/shipping (may indicate destination other than expected, like a sanctioned country)
Customer indicates order would circumvent local taxes/laws
• Tightening up records retention You can help by cleaning out your files periodically
Closing the loop on all customer issues especially Customer feedback forms Warranty claims Customer complaint forms
Do not destroy anything that is part of Litigation or Discovery. You will get notice from Susan or legal.
Internal Controls
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Centralized Services
• Why a Shared Services Model? Offload Opco Transactional Activity Let Opco’s Focus on Value-Added Work Process Optimization – lean office Compliance Improvement Leverage Oracle Investment Better Analytical Capabilities
• Focused on four key work streams
AR/Credit/Collections AP/Cash Disbursements Payroll and Benefits GL and Consolidations
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- Improved organization of the M1 Report through the creation of the daily Sales Analyzer.- Introduced monthly reporting by Territory and Region
TOTAL SALES Q4-11 Q4-10 Var $ Var % YTD-11 YTD-10 Var $ Var %SENECA CORP 334$ 263$ 70$ 26.8% 1,107$ 1,136$ (28)$ -2.5%NEUMAYER EQUIPMENT CO INC 151$ 175$ (24)$ -13.7% 768$ 600$ 167$ 27.9%DOUBLE CHECK CO INC 128$ 156$ (28)$ -18.1% 491$ 625$ (134)$ -21.4%SOUTHERN COMPANY OF N L R INC 101$ 97$ 4$ 4.4% 462$ 320$ 142$ 44.4%YANT TESTING SUPPLY & EQUIPMENT 10$ 11$ (1)$ -5.5% 459$ 179$ 280$ 156.5%HOOTEN EQUIPMENT COMPANY 77$ 106$ (29)$ -27.2% 433$ 485$ (52)$ -10.7%ILLINOIS OIL MARKETING EQUIP INC 88$ 17$ 71$ 422.1% 340$ 143$ 197$ 137.9%MID SOUTH STEEL PRODUCTS INC 47$ 43$ 5$ 10.8% 252$ 206$ 47$ 22.6%SUPERIOR EQUIPMENT CO INC 71$ 91$ (21)$ -22.8% 245$ 235$ 10$ 4.5%BROYLES INC (HUMBOLDT) 32$ 34$ (2)$ -6.3% 218$ 297$ (79)$ -26.6%P B HOIDALE CO INC 40$ 50$ (10)$ -20.0% 192$ 273$ (81)$ -29.7%GARSITE/PROGRESS LLC (KC) 51$ 26$ 25$ 96.2% 154$ 97$ 57$ 59.1%ACTERRA GROUP INC 47$ 47$ 0$ 0.3% 153$ 240$ (87)$ -36.1%UNITED PETROLEUM SERVICE INC 23$ 34$ (11)$ -33.1% 138$ 149$ (12)$ -7.8%COOPER EQUIPMENT CO INC 36$ 18$ 18$ 104.6% 131$ 195$ (65)$ -33.2%P.B. HOIDALE COMPANY 59$ 9$ 50$ 590.2% 122$ 42$ 80$ 190.9%AMERICAN PETROLEUM SALES & SERVICE 21$ 19$ 1$ 7.4% 122$ 36$ 86$ 236.8%DICK'S PETROLEUM 65$ 7$ 58$ 827.9% 111$ 62$ 49$ 78.7%SAMS GAS CONSTRUCTION 55$ 8$ 47$ 566.8% 95$ 226$ (131)$ -58.1%JL HOUSTON CO., INC 26$ 2$ 24$ 1002.4% 90$ 24$ 67$ 279.0%All Other Customers 239$ 336$ (97)$ -28.9% 1,015$ 1,133$ (118)$ -10.4%TOTAL BENNETT SCHWARTZ 1,699$ 1,549$ 150$ 9.7% 7,098$ 6,702$ 396$ 5.9%
ABOVE GROUND Q4-11 Q4-10 Var $ Var % YTD-11 YTD-10 Var $ Var %SENECA CORP 135$ 76$ 59$ 76.9% 422$ 427$ (6)$ -1.3%NEUMAYER EQUIPMENT CO INC 45$ 59$ (14)$ -23.7% 217$ 224$ (7)$ -3.1%DOUBLE CHECK CO INC 52$ 31$ 20$ 64.8% 199$ 154$ 44$ 28.8%GARSITE/PROGRESS LLC (KC) 51$ 26$ 25$ 96.2% 153$ 97$ 56$ 58.2%SOUTHERN COMPANY OF N L R INC 25$ 22$ 3$ 11.4% 141$ 117$ 24$ 20.7%P B HOIDALE CO INC 26$ 38$ (12)$ -31.7% 139$ 149$ (10)$ -6.4%MID SOUTH STEEL PRODUCTS INC 37$ 28$ 9$ 30.9% 137$ 123$ 14$ 11.5%HOOTEN EQUIPMENT COMPANY 37$ 18$ 18$ 99.7% 130$ 123$ 7$ 5.8%ILLINOIS OIL MARKETING EQUIP INC 21$ 13$ 8$ 64.5% 100$ 77$ 23$ 29.4%SUPERIOR EQUIPMENT CO INC 16$ 27$ (11)$ -40.3% 86$ 77$ 9$ 11.3%R L HOENER CO 20$ 22$ (2)$ -7.9% 81$ 76$ 6$ 7.7%SENECA TANK 23$ 17$ 5$ 30.2% 81$ 58$ 23$ 40.3%AMERICAN PETROLEUM SALES & SERVICE 17$ 7$ 10$ 129.6% 77$ 20$ 56$ 279.3%BROYLES INC (HUMBOLDT) 15$ 15$ (0)$ -2.1% 70$ 96$ (25)$ -26.6%UNITED PETROLEUM SERVICE INC 13$ 24$ (11)$ -46.5% 69$ 80$ (11)$ -13.7%PEMCO SERVICE CO INC 21$ 13$ 9$ 66.0% 69$ 38$ 31$ 80.1%ACTERRA GROUP INC 10$ 8$ 2$ 17.9% 54$ 41$ 13$ 32.3%MIDWEST PUMP & EQUIPMENT CO 14$ 14$ 0$ 0.4% 47$ 54$ (7)$ -13.2%J L HOUSTON CO 10$ 6$ 4$ 70.5% 41$ 25$ 16$ 62.4%COOPER EQUIPMENT CO INC 6$ 10$ (3)$ -35.1% 34$ 33$ 1$ 3.6%All Other Customers 37$ 55$ (18)$ -33.2% 198$ 319$ (121)$ -37.9%TOTAL BENNETT SCHWARTZ 629$ 530$ 99$ 18.6% 2,544$ 2,407$ 137$ 5.7%
BELOW GROUND Q4-11 Q4-10 Var $ Var % YTD-11 YTD-10 Var $ Var %SENECA CORP 170$ 182$ (12)$ -6.6% 601$ 689$ (88)$ -12.8%NEUMAYER EQUIPMENT CO INC 98$ 99$ (1)$ -0.9% 520$ 320$ 200$ 62.5%HOOTEN EQUIPMENT COMPANY 40$ 87$ (47)$ -53.8% 283$ 352$ (69)$ -19.6%ILLINOIS OIL MARKETING EQUIP INC 66$ 4$ 62$ 1609.6% 239$ 66$ 173$ 262.9%DOUBLE CHECK CO INC 59$ 105$ (46)$ -43.7% 232$ 417$ (185)$ -44.3%SOUTHERN COMPANY OF N L R INC 33$ 64$ (31)$ -48.2% 186$ 140$ 46$ 33.2%SUPERIOR EQUIPMENT CO INC 44$ 39$ 5$ 12.5% 126$ 103$ 23$ 22.5%BROYLES INC (HUMBOLDT) 15$ 21$ (6)$ -28.8% 111$ 169$ (58)$ -34.5%COOPER EQUIPMENT CO INC 30$ 7$ 23$ 314.2% 77$ 145$ (68)$ -46.8%UNITED PETROLEUM SERVICE INC 10$ 11$ (0)$ -3.1% 69$ 69$ (1)$ -1.0%CHARLES E THOMAS COMPANY INC -$ -$ -$ 0.0% 69$ 11$ 58$ 530.7%NEUMAN EQUIPMENT CO 1$ 7$ (7)$ -88.2% 60$ 31$ 29$ 92.6%P B HOIDALE CO INC 14$ 12$ 2$ 18.2% 52$ 124$ (72)$ -57.8%FOWLER EQUIPMENT CO INC 22$ 14$ 8$ 59.7% 47$ 33$ 14$ 43.5%AMERICAN PETROLEUM SALES & SERVICE 3$ 12$ (8)$ -70.7% 45$ 16$ 29$ 183.0%SAMS GAS CONSTRUCTION -$ -$ -$ 0.0% 43$ 0$ 43$ 12206.2%ACTERRA GROUP INC 15$ 39$ (24)$ -61.4% 40$ 182$ (142)$ -78.0%MID SOUTH STEEL PRODUCTS INC 8$ 5$ 3$ 57.6% 38$ 32$ 6$ 18.5%MID-STATE PETROLEUM EQUIPMENT 8$ 27$ (19)$ -70.3% 33$ 87$ (54)$ -61.5%PETROLEUM EQUIP INC OF KANSAS CITY 1$ 2$ (1)$ -37.0% 23$ 9$ 14$ 153.6%All Other Customers 53$ 121$ (68)$ -56.0% 85$ 242$ (157)$ -64.8%TOTAL BENNETT SCHWARTZ 691$ 858$ (167)$ -19.4% 2,980$ 3,236$ (257)$ -7.9%
SYSTEM Q4-11 Q4-10 Var $ Var % YTD-11 YTD-10 Var $ Var %YANT TESTING SUPPLY & EQUIPMENT 10$ 11$ (1)$ -5.5% 459$ 179$ 280$ 156.5%SOUTHERN COMPANY OF N L R INC 43$ 10$ 33$ 324.6% 135$ 64$ 71$ 112.3%P.B. HOIDALE COMPANY 59$ 9$ 50$ 590.2% 122$ 42$ 80$ 190.9%DICK'S PETROLEUM 63$ 3$ 60$ 1958.5% 102$ 55$ 47$ 86.1%JL HOUSTON CO., INC 26$ 2$ 24$ 1002.4% 90$ 24$ 67$ 279.0%SENECA CORP 29$ 5$ 24$ 444.5% 84$ 19$ 65$ 342.0%MID SOUTH STEEL PRODUCTS INC 2$ 9$ (7)$ -74.2% 77$ 51$ 26$ 52.1%YANT EQUIPMENT INC 36$ 13$ 24$ 185.8% 62$ 62$ (0)$ -0.4%DOUBLE CHECK CO INC 17$ 19$ (2)$ -12.7% 60$ 54$ 6$ 11.5%ACTERRA GROUP INC 22$ (1)$ 23$ -4034.3% 59$ 17$ 42$ 247.2%SAMS GAS CONSTRUCTION 10$ 8$ 2$ 19.5% 50$ 226$ (176)$ -77.8%ARK TESTING SERVICES 4$ 3$ 2$ 71.9% 40$ 20$ 19$ 95.2%BROYLES INC (HUMBOLDT) 2$ (2)$ 4$ -241.3% 37$ 32$ 5$ 15.5%MID-STATE PETROLEUM EQUIPMENT 5$ 5$ 0$ 4.1% 35$ 5$ 30$ 547.2%SUPERIOR EQUIPMENT CO INC 10$ 25$ (15)$ -59.0% 34$ 55$ (21)$ -38.9%NEUMAYER EQUIPMENT CO INC 9$ 18$ (9)$ -52.1% 31$ 57$ (26)$ -45.4%STANLEY PETROLEUM MAINT 22$ 0$ 22$ 4840.0% 22$ 2$ 20$ 1088.0%HOOTEN EQUIPMENT COMPANY -$ -$ -$ 0.0% 20$ 10$ 10$ 104.2%COOPER EQUIPMENT CO INC -$ -$ -$ 0.0% 20$ 18$ 2$ 10.0%MID AMERICA PETROLEUM EQUIP - FCG 7$ 7$ 0$ 6.1% 18$ 22$ (5)$ -21.3%All Other Customers 1$ 16$ (14)$ -90.6% 17$ 45$ (29)$ -63.4%TOTAL BENNETT SCHWARTZ 379$ 161$ 218$ 135.7% 1,574$ 1,059$ 515$ 48.7%
Distributed DM Scorecards ranking Top 25 Customers by Product Category.
Shipments Column LabelsRow Labels 2010 2011Jan 25,726$ 79,937$ Feb 55,746$ 38,996$ Mar 92,106$ 149,167$ Apr 18,610$ 91,378$ May 108,699$ 215,381$ Jun 152,207$ 494,532$ Jul 100,633$ 611,435$ Aug 169,216$ 388,354$ Sep 92,406$ 683,667$ Oct 165,546$ 407,874$ Nov 87,189$ 200,656$ Dec 59,508$ 225,832$ Grand Total 1,127,593$ 3,587,209$ $0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
2010 2011 2010 2011
Above Ground Below Ground
Total Shipments
PRODUCT CLASS Year
Sum of SumOfSALESTERRITORY
MAC OWEN
AUSTRALIA NE...
BENNETT SCH...
BOB AMES
BOB HYATT
CUSTOMER
GILBARCO AUT...
GILBARCO INC ...
GILBARCO VEE...
GLASGOW EQ...
GLOBAL DYNA...
GLOBE HI-FABS
Financial Planning & Analysis
- Improve data organization and distribution using Dashboards powered by
8
- Daily extracts of key data centralized into a stand alone data warehouse.
- Reports presented in a user friendly format with drill down capabilities.
- Surface opportunities timely and efficiently in flexible format.
Data Project Plan:
•Identify data scope and user groups
•Develop extraction process
•Data Validation and Testing
•Distribute and Refine
Sales Reporting Plan 2012
9
2011
•Offsite data hosting service
•Upgraded network security globally
•Enabled completion of our most critical reporting needs
•Laid the groundwork for new phone systems, CRM and a robust data warehouse
2012
•Data warehouse and dashboard launch
•Simplify of our reporting customizations to make next Oracle upgrade as seamless as possible
•Upgrade UG, phone systems and CRM
•Develop in-house Oracle expertise to decrease the reliance on consultants and increase speed
Information Technology
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Finance Support Services
• Integrity Counts• Credit card/ P-card program• DSSI Travel Launch
OPW FC completed 1,140 of 1,141 courses on time last year
That is 99.91% on time!
OPW FC completed 1,140 of 1,141 courses on time last year
That is 99.91% on time!
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2011 Finance Functional Accomplishments
• Exceeded Free Cash Flow plan by 2% despite a 5% earnings shortfall.
• Collaborated with materials and operations to reduce total inventory
by $3.9 million while driving increased customer metrics
• Improved second half gross margins 2% over previous year
• Variability in gross margins is decreasing with better system discipline and controls
• Reduced the closing cycle by a day
• Improved forecast accuracy with China, FCC and FCS achieving 90% or greater forecast accuracy
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2012 Finance Focus
Central Service Team,
Staff Accountants,
Corporate Controller
Streamline
Eliminate Waste
Automate
Transactions & Compliance
New products,
markets and customers
Acquisitions
Create FlexibleReporting
Drive Profitable Growth
Controllers
Manager FP&A
CFO
It also prepares our staff accountants and
controllers for their next roles
This must be aggressively
maintained to enable
This must be aggressively
maintained to enable
A focus on Growth and Value Added
Activities
A focus on Growth and Value Added
Activities
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2012 Finance Team
We look forward to partnering with you to Conquer New Heights
Our mission is to remove obstacles and provide data
to assist you in fueling profitable growth in an ethical and legal way.
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Questions?