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Global Finance Transformation at Vedior. Peter Rinkes Finance Director Europe Vedior.

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Presentatie over: "Global Finance Transformation at Vedior. Peter Rinkes Finance Director Europe Vedior."— Transcript van de presentatie:

1 Global Finance Transformation at Vedior

2 Peter Rinkes Finance Director Europe Vedior

3 GLOBAL FINANCE TRANSFORMATION AT VEDIOR 12 December 2007 Peter Rinkes

4 AGENDA 1. INTRODUCTION VEDIOR 2. BUSINESS PERFORMANCE IMPROVEMENT 3. FINANCE FUNCTION TRANSFORMATION

5 VEDIOR In search of Excellence

6 In search of excellence in: Business Performance Operating margin target 2008: 4.6% Finance Function Being a business partner

7 INTRODUCTION VEDIOR Vedior NV, headquartered in Amsterdam, is an international staffing services company providing flexible labour. Vedior operates in 50 countries worldwide: almost the whole of Europe, North and South America, Australia and New Zealand, South Africa, Middle East and Asia

8 VEDIOR: BUSINESS MODEL Decentralized structure/nature 50 countries More than 200 entities/operating companies Small corporate Headquarter (40 employees) Relatively autonomous management structure Local responsibility Minority shareholders Multi branding

9 MULTI BRANDING

10 VEDIOR: SECTOR SPLIT A leading party in professional/executive recruitment Other Sectors 8% Healthcare 6% IT 9% Education 1% Traditional 64% Engineering 7% Accounting 5% Revenues 2006 : EUR 7.7 billion Net profit 2006 : EUR 186 million Number of offices : Number of countries: 50

11 VEDIOR: BUSINESS PERFORMANCE IMPROVEMENT CURRENT STRATEGY Offer a full range of recruitment services to both local and international employers Enlarge share of specialist recruitment services Organic growth Acquisitive growth Profitability > market share

12 VEDIOR: BUSINESS PERFORMANCE IMPROVEMENT (2) Operating margin targeting 2008: 4.6% Operational performance Q3-07 YTD: 4.2%

13 VEDIOR: BUSINESS PERFORMANCE IMPROVEMENT (3) Dynamic industry: War for talent! Ongoing liberalisation of labour laws New lines of business ZZP vs. life time employment Fast growing global industry

14 Number of Agency workers (daily FTE x 1,000) Forecast based on an annual average growth of 6.8% (same trends as between 1998 and 2006; impact of regulation changes excluded) Forecast based on an annual average growth of 6.8% and impact of lifting restrictions (sectoral bans + reasons of use) Source: SEO Economic Research – Amsterdam

15 VEDIOR: BUSINESS PERFORMANCE IMPROVEMENT (4) STRATEGIC REVIEW (announced 25 October 2007) Wide range review of business portfolio, organisational alignment and corporate roles Mobilization of Top 100 people from across the business (13 and 14 December 2007)

16 Vedior and Randstad: Creating an industry leader HR service market is relatively immature, growing and consolidating Together Randstad and Vedior will become the 2 nd largest HR services company in the world Leadership positions in key markets in Europe and the Americas A global leader in professional segments A leader in inhouse services A truly diversified geographic mix Enhanced platform for growth in attractive markets such as Eastern Europe, India and Japan Diverse client base Transaction beneficial for Randstad shareholders as it offers enhanced growth prospects, EPS accretion immediately after completion, attractive returns and a more balanced business profile Transaction provides Vedior shareholders with a very attractive offer and at the same time the potential to participate in the future value creation arising from the combination

17 BEST PRACTICE: AUSTRALIA FINANCE FUNCTION TRANSFORMATION (1)

18 Self assesment Internal benchmarking Identifying and sharing best practices FINANCE FUNCTION TRANSFORMATION (2)

19 EBIT Evolution (%) Source: Estudios de Mercado SESA Company Benchmarking

20 FEATURES HIGHEST RATED FINANCE FUNCTIONS Business Partnering High level (integrated) IT systems Shared services for other group/sister companies FINANCE FUNCTION TRANSFORMATION (3)

21 BUSINESS PERFORMANCE OF HIGHEST RATED FINANCE FUNCTIONS FINANCE FUNCTION TRANSFORMATION (4) EBIT Top 3 Companies Gross Profit Top 3 Companies EBIT Worst Companies Gross Profit Worst 3 Companies

22 ISSUES CEO commitment ICT Staff capability Process of change management ‘Control’ requirements (company structure/corporate governance) FINANCE FUNCTION TRANSFORMATION (5)

23 Sydney Start up fixing project Geneva Second Global Finance Conference Evaluation self assesment Self assesment FFMG July 2007 FINANCE FUNCTION TRANSFORMATION (6) June 2006 Sept Sept 2005 Jan 2007 Dec 2007 Start up local Excellence projects Paris First Global Finance Conference Kick off Strategic Review Vedior

24 VEDIOR In search of Excellence

25 In search of excellence in: Business Performance Operating margin target 2008: 4.6% Finance Function Being a business partner

26 Thank you for your attention

27 Rob Leicher Group Controller & VP Finance OPG Group

28 OPG Finance Finance Transformation Conference December 12, 2007 Rob Leicher Group Controller

29 Active in 8 countries Direct and Institutional Pharmacy Pharmacy, Direct and Institutional Holland Norway Poland Switzerland Germany Belgium Hungary Denmark

30 Key Figures 2006 X € million Net Sales2,281 Operating result 130 Net result 100 Capital employed 701 Number of employees at year end6,686 30

31 Summary of OPG Strategy Build retail pharmacy chains Mediq – NL, PLN, BEL Expand home care activities Dia Real, Kirudan, JP Medical, Other Improve efficiency Organisational Integration (Pre-)Wholesale PLN Pharmacies NL 31

32 CONTROLLED GROWTH More countries Increasing complexity More standardisation required Best practice sharing Back-office integration; focus on efficiency Integration of new companies incl. synergy creation More standardised and integrated IT Development of new competencies required 32

33 33 “Builder” HORIZON ROLES OF FINANCE FUNCTION AT OPG ORIENTATION CONTROLBUSINESS Short term Long term Current role Aspiration “Performance manager” “Planner” “Controller”

34 34 ROLES OF FINANCE FUNCTION AT OPG ‘Builder’ M&A Business integration Financial market communication Financial management development ORIENTATION CONTROLBUSINESS SHORT TERM HORIZON LONG TERM ‘Controller’ Enhanced transparency and compliance Audit Risk Matrix Embedded Control Self Assessment ‘Planner’ Strategic milestone tracking Improved forecasting Tax planning ‘Performance manager’ Activity Based Costing and cost control Outsourcing Working capital reduction

35 Peter Mannaert CFO Sanoma Magazines International

36 INTERNATIONAL Parallelsessie global finance transformatie Peter Mannaert, CFO Sanoma Magazines International

37 INTERNATIONAL ■ Uitgeverij van tijdschriften ■ Zusterbedrijf van Sanoma Uitgevers (libelle, margriet, donald duck, ilse, nu.nl, startpagina etc.) ■ Actief in 10 landen in Centraal, Oost en Zuid-Oost Europa, local player ■ > 20% groei per jaar ■ Fully owned dochters, maar ook veel JV’s Sanoma Magazines International Kengetallen Sanoma Magazines 2006: ■ € 1,218.9 miljard netto omzet ■ € miljoen EBIT ■ medewerkers ■ SMI ; fte’s wv 8 op HQ

38 INTERNATIONAL

39

40 Business Transformation: Uitdagingen voor CFO SMI Business partner ; meedenken over strategie en organisatie Groei van de onderneming eist een meer volwassen aanpak Acquisitieplannen ; focus vs verbreding Kostenbeheersing blijft belangrijk –Loonontwikkeling CEE Efficiency slagen –Benchmarking, proces assesments –Kennis uitwisselen/ best practice sharing Verbetering (Corporate) Performance Management –Een versie van de werkelijkheid –Minder excel –Betere managementinfo –Effectiever budgetteren

41 INTERNATIONAL Werkveld CFO SMI Situatieschets Financial Accounting –Concernrapportages strak georganiseerd (Hyperion) Management Accounting –Eigen invulling BU’s –Geen centrale CIO –Board van Divisiedirecteuren –Locale P&L verantwoordelijkheid Doelstellingen –Groei –Professionalisering AO/IC Managementrapportages IFRS Opleidingsniveau CFO’s Dilemma’s Groei vs KT winst Centraal/ Decentraal ; SSC voor Admin, IT ? –Wie neemt risico’s/ investeringen –Geen gezamenlijk IT platform BI platform of lokaal Excel –Uniformiteit in Management Acc. Multimedia ; nwe diensten of focus Procesoptimalisatie vs local for local Geen gezamenlijk IT platform SM Divisies ; zelf ontwikkelen ?

42 Een excellente finance functie is een katalysator van excellente business performance

43 Contracten met nieuwe klanten zijn altijd resultanten van een afgewogen en evenwichtig besluitvormingsproces

44 Een decentraal opgezette functie heeft zijn langste tijd gehad

45 Finance is voorloper van transformaties/change

46 Customer value en profitabilty is moeilijk integraal te benaderen

47 De CFO moet zich meer focussen op finance en minder op andere domeinen

48 De CFO heeft een sturende rol om andere staffuncties naar een hoger niveau te tillen

49 Alle staffuncties zouden in een shared service omgeving beter bijdragen aan de business

50


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