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CFO Symposium Presentation 'The Muldoon Syndrome'
- 2. Belinda Johnson Director 2 THE MULDOON SYNDROME What’s ailing Kiwi businesses?
- 3. AGENDA 3 • Mindfull • Astory about a cost accountant • In a modern day context • Lessons and actions
- 4. WHO IS MINDFULL? 4 • Our gift ….”The clarity to adapt” and “Make sense of a fast changing world” • Business Intelligence Consultancy – 100% NZ Owned • Over 20 years in business, 40 staff, 135 Clients • Leading IBM Premier Business partner
- 5. MULDOON… BRILLIANT COST ACCOUNTANT? 5 • Distinctive scar • 1984…. • Mini budgets, national superannuation, wage & price freezes, inflation and Think Big policies • 1967 – Decimal Currency • The contradiction that was Robert Muldoon – Blog.Mindfull.co.nz
- 6. TODAY 6 • The Deloitte CFO Survey (2014 Q1) survey – Risk appetite and consumer confidence high • The Deloitte CFO Survey (2014 Q4) survey – Risk aversion sets in • The Deloitte CFO Survey (2015 Q1) survey – High levels of uncertainty • In 2015 - 56% of CFOs will take greater risk onto their balance sheets, down from a record reading of 71% in 2014
- 7. THE PROBLEMS 7 • Banks and compliance • Disparate systems • Excel – show of hands? • Fast changing environment • Reporting
- 8. WORD ON THE STREET "Poor cash-flow management is causing more business failures today than ever before.“ Philip Campbell, a CPA and CFO
- 9. WORD ON THE STREET 9 What our clients are saying…
- 10. 10 JOHN HARRISON CFO NZ BLOOD Establishing and maintaining a good working relationship is essential, noting relationship managers are rotated by the banks Provision of quality financial information as frequent as necessary to provide the bank with its desired comfort Be open and share your strategic plans inclusive of financial forecast outlook Understand your key business drivers and their external influencers to enable a ‘no surprises’ policy approach Maintain a good understanding of the general economic environment and its outlook – that’s the banks’ world Never forget that age old truism ‘Cash is king’
- 11. 11 • Being a cash rich business provides opportunities • Low cost of capital • Banking governance are important ratios to measure • Good information & reporting • Being able to manage global variables and changes • Timely decision making • Harness your existing assets WILSON ALLEY CIO DELEGAT’S WINE
- 12. 12 • Technology / customer Disruption is happening to all / our industry • Good information is critical to help inform decisions • Good forecasting important so changing trends / drivers can be acted upon in a timely manner • Companies data rich - how do we distill to help inform decisions • Asset bubbles arising due to excess liquidity pumped into economies heightening banks concerns and risks such falling commodity prices / Greek exit mean bank are being conservative in protecting their investment ANDREW DONALDSON CFO GENESIS ENERGY
- 13. THE SOLUTION A better way of managing cashflow
- 14. • Business plans look good on Balance Sheets • Collecting receivables • Increasing sales • Managing cashflow not profit • Negative cashflow. Cost of short term funding
- 15. • Pricing Discounts • Positive cashflow. Treasury optimisation • Tightening credit requirements • Timing is everything • What is hiding in our budgets
- 16. ACTIONS WHO WE ARE 16 • Agile cashflows • Get out of Excel • Shift the paradigm • “What if analysis”
- 17. SUMMARY 17 • Business is changing fast • Don’t spend budgets • Get out of Excel • Use cashflows to make decisions • Cash is King
- 19. COME SAY HI… 19NEW HUNTING GROUNDS Be into win… Limited edition Muldoon T-shirt