FINANCE FOR GROWTH Implementing Meaningful KPIs and Dashboards - - PowerPoint PPT Presentation
FINANCE FOR GROWTH Implementing Meaningful KPIs and Dashboards April 2018 Dublin Agenda Introductions A brief history of Key Performance Indicators (KPIs) KPIs are everywhere Why develop KPIs? Developing meaningful
Implementing Meaningful KPIs and Dashboards April 2018 Dublin
tmcadam@rsmireland.ie Mobile: +353 (86) 0474002 www.rsmireland.ie Terry McAdam
Management Consulting Partner, RSM Ireland
INTRODUCING RSM IRELAND
Network coverage map:
Our firm’s history goes back to 1987 and since then we have grown to become a top 8 professional services firms in Ireland specialising in providing advice to mid- market businesses and government agencies. Our 150 people, across all areas of the practice, provide clients with pragmatic, expert led, personalised advice and insight that helps them succeed, grow and prosper. Our firm is ideally placed to
an unparalleled level of experience and expertise to our business partners in Ireland.
RSM MANAGEMENT CONSULTING
Transformation, HR & Change Technology Consulting Outsourcing Risk Advisory Financial Advisory Forensic & Investigation Process & Performance Technology Strategy Secondments SOX Commercial Reviews Workplace Investigation Organisational Review Systems Delivery Company Secretarial HR Audit Financial Planning Asset Tracing Training & Development Technology Project Management Outsourcing/ Bookkeeping IT Audit Financial Advisory Regulatory Investigation Project & Change Management Technology Procurement Payroll - Outsourcing Financial Audit Feasibility/ Business Plans Tax Investigation Recruitment VAT Compliance Governance Audit Economics Advisory IT Investigation HR Advisory Unaudited Accounts Corporate Governance Advisory Litigation Support Data Governance Special Investigations
Our service lines:
120
COUNTRIES
3,384
PARTNERS
763
OFFICES
38,353
PEOPLE FEES
$5.0bn
A KPI: “a quantifiable measure used to evaluate the success of an organization, employee, etc. in meeting objectives for performance” Information: “Facts provided or learned about something or someone” All definitions as per Oxford English Dictionary
KPIs developed to support: 1. Individual performance management – practised for centuries and notably since the 1800s. KPIs made popular by advent of self- assessment with commentary by line manager 2. Operational performance management – embraced by General Motors in 1950s. Du Pont chart focused on Return on Capital Employed and ratio analysis 3. Strategic performance management – more recent development. Advent of Balanced Scorecard developed by Kaplan and Norton. Range of KPIs to monitor progress of business across strategic pillars
Recently many organisations believe maximise likelihood of achieving strategy by aligning individual performance management goals and cascading KPIs to individuals
and strategy achievement
and the entity
for on a weekly, monthly, quarterly basis – may link to performance- related remuneration
becomes responsible for what they control, their performance
KPIs
issues that KPIs were intended to detect or reflect being ignored
which do not greatly impact the performance of the business, be aware of pet interests of the leadership
them properly
level – they will understand the issue and the solution!
achievement for some staff
functioning reporting regime where quality management information is produced in a timely fashion – P&L, Balance Sheet and Cash Flow.
management information is not reliable or delivered on time.
possible to readily report details such as turnover, quantities shipped and staff wages on a timely fashion.
your business:
can be added later)
available and accurate (otherwise system/process change may be necessary)
monthly, quarterly
dashboard, scheduled reporting pack, gauges etc.
as part of the annual budgeting process)
Key elements of Board pack likely to include:
and current year-to-date (CYTD) performance compared to budgeted period (BP) and budgeted year-to-date (BYTD) and prior year period (PP) and prior year-to- date (PYTD). Note budget may be augmented by reforecast
and BYTD)
(BYTD)
Key elements of Board pack likely to include:
Key elements of Board pack likely to include:
inception versus budget. Latest expected financial outcome declared
versus plan
and Overtime
across future period (to be agreed) and issues arising (narrative)
Key elements of Board pack likely to include:
resources onboarded, resignations and exits (narrative)
year-to-date and the number due which are outstanding
Key elements of Management pack likely to include:
current year-to-date (CYTD) performance compared to budgeted period (BP) and budgeted year-to-date (BYTD) and prior year period (PP) and prior year-to-date (PYTD). Note budget may be augmented by reforecast
BYTD)
(BYTD)
Key elements of Management pack likely to include:
PROPOSED REPORTING PACK REQUIREMENTS (cont.)
Key elements of Management pack likely to include:
inception versus budget. Latest expected financial outcome declared
Key elements of Management pack likely to include:
Time in Lieu and Overtime
requirement across future period (to be agreed) and issues arising (narrative)
resources onboarded, resignations and exits (narrative)
year-to-date and the number due which are outstanding (analysed by reviewer)
Key elements of Management pack likely to include:
another important service to the user in allowing the identification of workflow- driven tasks requiring progression.
– Timesheets awaiting approval – Invoices awaiting approval – Customer cases awaiting attention
About me: Trevor Jobling
About me: Trevor Jobling
About me: Trevor Jobling
○ Business process tools ○ System integration ○ Creation of new products and services
Current status
○ You can’t focus on everything ○ Beware the many voices ○ Deliver something useful
○ Are you measuring it? ○ Are you recording it? ○ Can you access it… in a timely fashion? ○ Is it of suitable format/granularity/time period? ○ Can it be cross-referenced?
○ What user roles do you have? ○ Need multiple permission levels or views?
Preparatory Checklist
www.QuickDBD.com
www.QuickDBD.com
Thing that Works
Magical Thinking
can have Value
Dovetail Internal Project Tracker
Dovetail Internal Project Tracker
Contact us: Dovetail The GEC Taylors Lane Dublin 8 trevor.jobling@dovetail.ie www.dovetail.ie
FINANCE FOR GROWTH
General Data Protection Regulation (GDPR) Awareness Sessions Date: 24.04.2018
STRICTLY PRIVATE AND CONFIDENTIAL
Course agenda
67
What is data protection?
As defined by the Data Protection Commissioner: “it is the safeguarding of the privacy rights of individuals in relation to the processing of their personal data.” You supply information about yourself to government bodies, banks, insurance companies, medical professionals and many others in order to avail of services or satisfy obligations. Organisations or individuals also obtain information about you from other sources. For the purpose of data protection such organisations or individuals who control the contents and use of personal data are know as data controllers These rights apply where the information is held: ✓ electronically, or ✓ in a manual form, as part of a filing system that facilitates ready access to a specific individual’s information
Personal data Public/ private bodies Compliant use of data
69
Current governing Act
Data Protection Act 1988 and 2003 At the moment, Irish data protection obligations are primarily governed by the Data Protection Act 1988 as amended by the 2003 Act. The act is governed by 8 principles:
70
71
What is the GDPR?
(GDPR) will come into force on the 25th May 2018, replacing the existing data protection framework under the EU Data Protection Directive.
security and accountability by data controllers and processors, while at the same time standardising and strengthening the right of European citizens to data privacy.
non-profit organisations who interact with personal identifiable data of EU citizens have until 25 May when GDPR comes into force to comply.
72
The GDPR terminology
PROCESSING PERSONAL DATA DATA CONTROLLER DATA PROCESSOR DATA SUBJECTS DATA PRIVACY
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Sensitive personal data
Sensitive personal data is a special category of personal data. These require a higher standard of care by the GDPR.
Sensitive personal data
Names Personal data Sensitive data Banking details Addresses Medical condition Religion Convictions Prejudice Criminal activity
74
GDPR - scope
75
So who has to comply?
An organisation has to comply if: They control or process the personal data of EU residents This applies irrespective of where the organisation is based.
76
77
New concepts and key principles
Explicit consent Contracts PIAs Individual rights Breach notice Incident register
78
Key changes - consent
ACTION: Procedures to obtain and record consent should be reviewed to check they are in line with the new GDPR requirements.
Consent may be withdrawn at any time Consent cannot be inferred e.g. pre-ticked boxes or inactivity Consent must be “freely given, specific, informed and unambiguous”
79
Key changes – more information required
Details of their purpose and legal basis for processing data
ACTION: Privacy/fair processing notices or other communications should be reviewed and amended to meet the new requirements. Information should be provided in concise, easy to understand and clear language.
How long data will be retained and any transfers outside the EU Individuals can complain to local regulatory bodies if they are dissatisfied with how their data is handled
80
Key changes – individual rights
ACTION: Ensure that processes are in place to respond in a consistent and timely manner to customers who assert these enhanced rights.
Right not to be subjected to automated data profiling (where this would produce a legal effect) Right to data portability (have data provided electronically in commonly used format) Right to be forgotten (have personal data removed from systems
81
Key changes – individual rights
Right to request that businesses delete personal data without undue delay where:
it is no longer necessary for the purpose it was collected the data subject withdraws consent and there is no other legal ground for processing the data subject exercises their right to object and there is no overriding legitimate ground for processing the processing is unlawful
82
Breach notifications
72 hours if EU resident data is lost. – Only exception is if the data was encrypted. Organisations have to inform individuals if an “adverse impact” is determined from the breach. –
have obligations to data controllers.
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Penalties for non-compliance
If organisations do not comply , they face a maximum fine of:
Other consequences – reputational damage, financial loss, litigation etc.
85
Examples of penalties
data breach to authorities.
companies was jailed.
86
87
Key activities we are seeing (1)
WHY?
WHERE? HOW?
Carry out an information audit and data flow mapping exercise
Update all policies and procedures to reflect changes Reviewing data-related service provider contracts to reflect impact of the GDPR on controller and processor obligations
88
Key activities we are seeing (2)
Form a data governance group Implement / review breach notification procedures and Incident Management Plans Review impact of GDPR on data retention policies e.g. on archiving
72
89
Key activities we are seeing (3)
Review IT development and purchase procedures – ‘Privacy by Design’ Consider the position of the existing DPO within the management structure Consider and record lawful bases for processing
90
Key activities we are seeing (4)
Create and maintain an information asset register Check accountability for data governance is clear and precise Check how consent is
process required? Retain records of consent
91
Mobilisation
93
Discovery
procedures
systems to meet the GDPR requirements
94
Analysis
place
policies and measures in
implementing the processes, procedures and policies to comply
95
Reporting
feedback
gap analysis
reflected in budgeted roadmap to compliance
96
ROADMAP TO COMPLIANCE
97
New Irish Data Protection BilI
Protection Authority.
Protection Commissioner (ODPC)
regime, except where acting as an “undertaking”, (i.e. providing goods or services for gain)
then be in force – an amended 1988 Act, the 2003 Amendment Act and the 2018 Act
99
Useful information sources
The GDPR text https://gdpr-info.eu/ Information Commissioners Office (UK) https://ico.org.uk/for-organisations/data-protection-reform/overview-of-the-gdpr/principles/ Data Protection Commissioner (Ireland) https://www.dataprotection.ie/docs/Home/4.htm Article 29 working party updates http://ec.europa.eu/justice/data-protection/index_en.htm “Preparing for the General Data Protection Regulation (GDPR): 12 steps to take now V2” https://ico.org.uk/media/1624219/preparing-for-the-gdpr-12-steps.pdf
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RSM Ireland Trinity House Charleston Road Ranelagh Dublin 6 Ireland