How to share the picture of financial performance with key employees

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Learn to share your financial picture with key employees © Copyright 2011-2012, Corelytics, Inc. All Rights Reserved Executive Vice President Corelytics On

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Transcript of How to share the picture of financial performance with key employees

Page 1: How to share the picture of financial performance with key employees

Learn to share your financial picture with key employees

© Copyright 2011-2012, Corelytics, Inc. All Rights Reserved

Executive Vice PresidentCorelytics

On

Page 2: How to share the picture of financial performance with key employees

Do you let key employees see where your business is headed?

Page 3: How to share the picture of financial performance with key employees

Poll: Your Main Objective for Attending

Page 4: How to share the picture of financial performance with key employees

© Copyright 2011-2012, Corelytics, Inc. All Rights Reserved

Drive revenue generating activities

Manage critical process and decisions

Understand how to keep technology working for you

Manage customer relationships

Keep the team going through innovation

Who is ‘Key’ to business success?

Page 5: How to share the picture of financial performance with key employees

Why do key employees care?

© Copyright 2011-2012, Corelytics, Inc. All Rights Reserved

Increase responsibility and authority

Be looked at as problem solver

Gain recognition

Contribute to the organization

Make sales and decisions

Create process efficiencies

Support use of technology

Innovate

Provide knowledgeSupport clients

Page 6: How to share the picture of financial performance with key employees

Alignment + Impact = Clarity

© Copyright 2011-2012, Corelytics, Inc. All Rights Reserved

Align the impact of behavior on financial performance and goals

(ie. business success)

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Poll: Number of Employees

In Your Company

Page 8: How to share the picture of financial performance with key employees

Does anyone hear ticking?

© Copyright 2011-2012, Corelytics, Inc. All Rights Reserved

Page 9: How to share the picture of financial performance with key employees

When do you share

© Copyright 2011-2012, Corelytics, Inc. All Rights Reserved

Daily: Keep pulse on stats

Weekly: usually key stats

Monthly: Key financial metrics with key people

Quarterly: Goal evaluation and report cards

Annual: Major strategic initiatives and annual goals

No need to share everything!

Page 10: How to share the picture of financial performance with key employees

Basic financial metrics to share

© Copyright 2011-2012, Corelytics, Inc. All Rights Reserved

Top 5 - Revenue- Profit- Revenue per FTE- Sales & Marketing Expense- Cash

What to Discuss- Trends- Forecasts- Goals

Set Goals/Budgets for specific metrics

Page 11: How to share the picture of financial performance with key employees

Alignment Examples

© Copyright 2011-2012, Corelytics, Inc. All Rights Reserved

Top 10 - Revenue- Margins- Profit- Revenue per FTE- Expense per FTE- EBITDA- Travel/Entertainment Expense- Sales Expense- Marketing Expense- Cash

Make sales

Create process efficiencies

Support use of technology

Innovate

Support clients/customers

Highly tuned companies look at each Line of Business

Page 12: How to share the picture of financial performance with key employees

Fine tuning your business

© Copyright 2011-2012, Corelytics, Inc. All Rights Reserved

Part# 2347P:

People

Part# 2344PR:

Process

Part# 30543T:

Technologies

Part# 12634F:

Financial performance

Major System:

Line of Business (LOB)

Page 13: How to share the picture of financial performance with key employees

Track LOB performance

© Copyright 2011-2012, Corelytics, Inc. All Rights Reserved

Combined

T&M LOB Product LOB

Service LOB

Do you have someone who owns LOB performance?

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Poll: Your feelings about sharing financial

performance with key employees

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Have a management process and iterate

© Copyright 2011-2012, Corelytics, Inc. All Rights Reserved

Use dashboard to track and review – make it easy

Put someone’s name on high priorities!

If you’re talking about it, it’s important to the rest of the team!Financial

Results

Financial Goals

Top Priorities

Do The Work

30 Minutes Each Month

Page 16: How to share the picture of financial performance with key employees

Used Corelytics to get financially fit

© Copyright 2011-2012, Corelytics, Inc. All Rights Reserved

Page 17: How to share the picture of financial performance with key employees

A short tour of Corelytics

© Copyright 2011-2012, Corelytics, Inc. All Rights Reserved

Page 18: How to share the picture of financial performance with key employees

Provide visibility to the road ahead to key employees…

They can take you places!

Page 19: How to share the picture of financial performance with key employees

Thank You!

© Copyright 2011-2012, Corelytics, Inc. All Rights Reserved

Call 425-533-0403Email [email protected]

Executive Vice PresidentCorelytics


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