What kind of areas do we cover?
The training we provide depends upon your needs.
However, some requests come up again and again. Some typical areas are
outlined below. Click on the links to see more details.
In Financial Awareness we look at what drives profit and cashflow, and how participants can improve these within your organisation.
Finance for Directors and Finance for sales staff cover some of the specific issues for these members of the team.
Budgeting examines the whole
budgeting process from the allocation of funds, through the monthly
report, to forecasting the end of year outturn.
Credit Control covers the vital issue of getting paid.
Family finances in the credit crunch
addresses some of the personal financial issues your staff are facing.
If they are worried about money, how can they be effective at work?
We also run open courses if you only have a few people to train.
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How will financial training help you?
Finance for non financial managers can help you in several ways:
- profits will improve as staff understand how they impact profitability
- cashflow will improve
- budgetholders will get more out of their budgets
It's easy to make wild claims on a website, and you would be right to question them.
Here's how we can substantiate our claims:
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Budgetholders |
If asked what their aim was, your sales team would probably reply "to sell as much as possible", or "to maximise sales revenue".
However, neither of these aims necessarily helps you be more profitable.
Selling as much as possible, or maximising sales revenue, probably both
involve discounting the price to increase volume. This means your sales
staff could be giving away profit to win sales.
Our training helps your sales staff understand how to price to
maximise profit, not revenue, and how to agree payment terms that will
help your cashflow.
You could summarise this as: "We don't want our sales team to make sales, we want to be paid for profitable sales".
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Typically in the UK - in both the public sector and private
sector - we recruit staff, train them in their jobs, and promote those
who do well. Eventually a promotion brings budget responsibilities.
These managers have often never been given budgeting training, yet we expect them to pick it up as they go along!
Imagine recruiting a surgeon, an HGV driver, or a lawyer, and saying "We won't train you, just pick it up as you go along".
Our training will help your budgetholders understand how to use
the budget allocated to them, how to manage on less, and what to do
with the monthly reports.
Money is scarce, and this will help them get best value out of your budgets.
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Who might need financial training in your organisation?
Budgetholders, as we've seen in the example above.
These are the people who spend your money, so let's make sure they know
what they're doing.
Sales people need to understand the financial implications of
their actions. Once the sale has been made it's too late to change the
price and terms!
Directors discuss financial issues all the time. Hands on
hearts - how many of them really understand what the Finance Director
is talking about?
Project managers run the projects that make money for us. Do
they understand the impact they have on hourly rates, and why hitting
milestones is so important for cashflow?
Production managers make production decisions that impact
stock levels and therefore the bank account. Do they understand the
cashflow implications of these decisions?
As you're starting to suspect, this list includes all the
people in your organisation whose actions affect your financial
success. As we only employ people to make us more successful, this
includes most people!
We're not suggesting you provide financial training for
everyone in the organisation, but financial awareness and budgeting
skills must not be seen as being relevant only to the finance
department.
Try our budgeting quiz or our profit and cashflow quiz to assess your financial understanding.
Contact us at: alex@attainmenttraining.co.uk, or telephone: 0121 276 0040
Find us on LinkedIn
© Attainment Training 2012 |
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