Integral Operations Finance (IOF)

Time 2020-11-11 23:07:05

Web Name: Integral Operations Finance (IOF)

WebSite: http://integralpmi.com

ID:112874

Keywords:

Operations,Integral,IOF,

Description:

At PMI we focus on the working assets you already have and what you are already doing right, but have not defined.  We get people involved in executive finance who have never been involved before. When I printed out the monthly Dollar Trends Graph from the Financial Scoreboard – our ‘tachometer’ (upper right) - for our 6th huddle, I was amazed to see that the impacts of our operations finance practices were already significant. Although we had only begun in November, we had already seen enough results to return our investment in PMI's Discovery Process.          Ken Thengval, CFO, NAPA Auto Parts, 2007 We engage operating people in understanding far better what they and their peers are already doing that is working. Once that understanding is in place, then they begin to understand and use financial information more effectively to support ongoing financial performance mandates, with simultaneous customer value delivery improvement. The only new things we bring are frameworks for organizing and recording what you are doing now that's working to create value for your customers, presenting them in common sense color-coded pictures. I think we are the best managed we have ever been in the history of OBI. We are really changing the whole culture, by changing the way we look at how we operate as an organization.         Mark Patterson, VP Finance Corporate Development,       Oklahoma Blood Institute, in Huddle # 8, 2010In IOF, only the best ideas and approaches organically grow and continue to be used – it naturally replicates the strategies and tactics that are proven to work to everyone's satisfaction. To the CEO - Allow the business to flourish around you – replicate your way of thinking and doing business, and new staff wisdom, throughout the company. Stop being a bottleneck if you are one. To the CFO - Have your internal customers on top of and in charge of operations-to-finance transaction linkages. Support everyone in using those transaction linkages to pro-actively drive better operational financial performance. We (the decision team) love the way our value creation focus is both giving us complete oversight of the improvement process and business results. We are also having an increasing flow of team tacit job knowledge, and newly discovered organizational knowledge coming towards us consistently. We have several KPI Impact Teams meeting, and then they all come together for a 75-90 minute ’huddle’ to report and discuss progress with each other. The Decision Team meets after each huddle to debrief on which parts of the teams’ work we want to encourage fully, where we see the need for modifications, and where we may decide to have them table a direction, or even the team itself.          Tom Hood, CPA - CEO, Maryland Assn of CPAs, 2012 To the associates - Learn now how to understand your company’s business model so well that you begin to think and act like senior leadership. To the most valued advisors - Behavioral and Financially literate senior leaders, staff and stewards create even better business service relationships.Our services significantly improve upon legacy management practices by “upgrading the Management Operating System” using PMI’s transformational measurement approach. Begin with CEO Reality Check, by CEO or designate. Finally, solve the problem - how to make financial data a regularly useful tool. Make your company into a thriving money machine. Drive continuous improvements in the operations by giving every leader a quick and easy command of company financials, and the activities that create financial results.   Request your free demo copy of Financial Scoreboard here.Financial Scoreboard (FSB) is a color-coded financial map that visualizes the business intelligence hidden in your Bank, Balance Sheet and P L data.  Apply the business insight, and power to leverage results that are embedded in your standard financial numbers. You can steer business results with 3 Bottom Line Performance ®.  The user's manual for FSB is Managing by the Numbers: A Commonsense Guide To Understanding And Using Your Company's Financials.  We strongly recommend that you read Managing by the Numbers to gain a full understanding of how best to use Financial Scoreboard.  For the Executive Team (ET), this process has added value by bringing more focus within different departments that the ET oversees, and provides a lot more structure for measuring against specific tasks that we are tackling. The process strongly encourages the team to jointly pick a few select KPI related tasks, working only on these tasks over time until problems are solved and KPI’s are maximized.          Matt Reynolds, President, Indigenous Designs, 2010 At PMI, we are not consultants. We have simple tools that enable businesses to design install a Management Operating System (MOS) upgrade according to their needs, assets and internal language. Let us work with you, and if needed, your most trusted advisors, to identify your unique sequence of value-creating activities and what is blocking them. Make your organization sing! What have our customers achieved?1. For the first time, the value-creating activities that drive financial performance were identified, validated and integrated into a Chart of Behaviors (cc), then linked to the Chart of Accounts to drive business objectives. 2. Appropriate non-financial metrics were used to clarify how specific operational behaviors impact specific financial outcomes.3. Stakeholders are engaged and enabled to access and use the available data and drive their own performance because they measure it themselves. Getting everyone engaged in refining and improving the Chart of Behaviors itself was incredible to watch. Everyone took it very seriously, with a tremendous amount of very relevant input that added very significantly to the initial work the three of us on the Decision Team had done.         Tom Hood, CPA - CEO, Maryland Assn of CPAs, 2012 4. All stakeholders use a common operating language that relates Operating terms and Financial terms to each other, creating operational efficiencies. 5. The enterprise has been transformed into a high performance culture that encourages teamwork and innovation across all levels of the organization. 6. Leadership has developed a system of effective problem-solving and tight decision-making by using a clear picture of the financial and operational business past and future. 7. A comprehensive picture of the whole system allows all players to see how it works and their role in it, while simultaneously supporting them to follow and/or participate in the continuous testing of its accuracy and usefulness. Regarding the approach of asking each team to make a very short presentation at the huddle – yes, some team members were freaked out about it at first – but it made them think and work harder to communicate lots of substance very quickly.  In the end, it went off great.  Although it did take a little extra time out of normal day-to-day responsibilities, the end result was more than worth it, and the time impacts minimal.           Matt Reynolds, President, Indigenous Designs, 2010 8. Increased enterprise agility and effectiveness has been achieved to meet increasing rates of business change. (Examples: Developed and delivered new products; Created a viable succession plan; Secured new financing; Acquired a competitor.)9. Company Operations, Culture and Finance are integrated to create a common bond among stakeholders, generate improved communications, identify a cohesive set values, and ultimately achieve high levels of financial performance.Self-Assessment - An individual’s personal capacity to conduct a comprehensive Behavioral and Financial framing of their organization’s work system and financial framework; implemented by using structured documentation of the baseline objective facts that summarize the status of the total property, all the contracts, the bank account values, and all the value-creating activities in the work system. 1. Initially, Executive Teams share and clarify decision-making to improve profit and cash flow.   Disconnects is a good word for the questions that started me on the path to extracting from myself and my colleagues, those business processes that were falling short of expectations, that were not going according to specifications. What was not performing according to company needs and goals?             Stuart Valentine, RIA - Owner, Centerpoint, 2010 2. The firm’s informal personal wisdom and knowledge (“deep smarts”) are documented and disseminated as business knowledge.  In this way, our process identifies additional capital assets and promotes operational scaling between owners, management and staff.  3. All stakeholders are enabled to begin speaking a common operating language which marries Operating terms and Financial terms in the same statements – and provides a foundation to continue the transformation over time.  4. A culture of continuous Business Literacy, Self-assessment, Issue Resolution, Financial Improvement and Employee Engagement is established and perpetuated at all levels of the enterprise.Financial numbers and Behavior numbers can all fit together as a usable whole.  PMI applies business process disciplines that enable an enterprise to achieve operations excellence and financial strength by combining proven methods and our own unique IP. The disciplines of Accounting 2.0, management consulting, organizational development, business process management, enterprise resource planning, Six Sigma, et al; have contributed to improving how organizations function, but none have achieved a fundamental shift in the behavioral inefficiencies that limit productivity, which do exist in most enterprises – or the sense of alienation that many employees experience because they do not know exactly what is true.  Check out our case studies for more details. LETS RUN THE NUMBERS   ~  PMI  ~  1(877) $Cash Fl(ow)  or   (877-722-7435)  9 - 5 Pacific Time

TAGS:Operations Integral IOF 

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