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Financial Management (Long)

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2001 - Winner of CFO Excellence Award ... Fiscal Survey of States:July 2005 ' ... Bobby Derrick, Past President of the Association of Government Accountants ... – PowerPoint PPT presentation

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Title: Financial Management (Long)


1
(No Transcript)
2
Todays Challenges Facing Financial
ManagersJeff Henley Chairman of the
BoardOracle Corporation
3
From Oracle CFO to Chairman
  • 25 years as CFO
  • Veteran of corporate turnarounds
  • SAGA Foods, Pacific Holding Company, Oracle
  • 1991 - Oracle CFO
  • 2001 - Winner of CFO Excellence Award
  • 2004 - Oracle Chairman
  • Member of several other corporate boards

4
The State of the Union
5
States Face Hard Choices
While the extreme revenue shortfalls states
experienced recently have subsided, most states
still face tough budget challenges.
  • Medicaid costs out of control
  • Reductions in public services
  • Pension plans under-funded
  • Political ramifications of raising taxes

2000
2001
2002
2003
2004
2005
2006
Balance as of expenditure
Balance (b)
Fiscal Survey of StatesJuly 2005
6
And Demands for More Accountability
2004
2005
Future
Sox for States?

Model Governance for NYS Public Authorities
Revisions to Circular A-123


States may be required to provide assertion in
financial statements
Requires 31 Public Authorities to comply with SOX
type requirements
Guidance to Federal managers on improving
accountability effectiveness of Federal programs
7
Pressure Stays on the Back Office
External Pressure
Internal Demands
  • Governance
  • Fiscal Constraints
  • Homeland Security
  • Transparency
  • Constituent accessibility
  • More services
  • Performance
  • Internal Controls
  • Financial Reporting
  • Accountability
  • Innovation
  • Aging Workforce

Understanding the Facts
  • Data volumes are exploding, complexity of
    government operations increasing
  • Credibility is established by being recognized as
    a trusted advisor and delivering accurate timely
    information for management

8
On Leadership
9
We Face Similar Challenges
  • I feel like working at eBay was probably the
    perfect prep for being the controller because it
    was a job where we were going, literally, nonstop
    around the clock with huge issues before us.
  • Steve Westly, California State Controller
  • eRepublic, August 2003

10
And We Are Held to Similar Standards
  • Like preachers, people need to trust financial
    leaders. Whether its a state treasurer or
    auditor, or head of Americas biggest
    corporations, people must believe they are
    honest. They invest their trust and fortunes in
    leaders with vision.
  • Phil Bryant, Mississippi State Auditor

11
Your Leadership Challenge
Government should lead by example, we should be
as good or better than those we are
regulating.
  • Comptroller General David M. Walker

CFO Magazine, June 2003
12
A leader is someone who is trying to do
something. A hero is someone who has done it.

-Anne, age 7 As quoted by John Radford in
Leadership Secrets
John Radford State Controller Oregon
13
Meeting the Leadership ChallengeBecome High
Performing
  • Focus on performance
  • Become a trusted advisor
  • Have an integrated view of the organization

14
Focus on PerformanceOptimize Your Reporting
Structure
To Focus on Strategic Functions
Reducing Direct Reports
Source CFO Executive Board
15
Become a Trusted AdvisorExpand Your Influence
  • Advise executive legislative oversight bodies
    on strategy, performance, and compliance
  • Work with agencies to define and achieve
    performance objectives
  • Protect and defend the public interest
  • Motivate and support your staff

16
The Measure Of PowerInfluence is Key
Its not about control, and I dont think its
about size. The measure of a powerful person is
that their circle of influence is greater than
their circle of control. A.G. Lafley, CEO
Proctor Gamble - Fortune

If a person cannot influence others, he cannot
lead. Bobby Derrick, Past President of the
Association of Government Accountants
17
Have an Integrated View Know Your Constituents
and Customers
For years I fought the notion that the
Comptroller has either constituents or customers.
The reality is that I have both. Robert
Childree, Alabama State Comptroller
Financial View
Operational View
Constituent View
18
Technology Can Help Balance the Scales
  • Performance
  • Internal Controls
  • Financial Reporting
  • Innovation
  • Accountability
  • Governance
  • Fiscal Constraints
  • Human Capital
  • Homeland Security
  • Aging Workforce

State Balancing Act
  • Technology Can Help You Balance the Scales And
    Save Money in the Process

Truth, Transparency and Transformation, GOA
19
WW Government IT Solution Focus
  • IT Investment Areas
  • Challenges/Pain Points
  • Business Function

Service delivery to citizens and enterprises
Call centers, Web portals, Electronic ID, Digital
Signature
Enhance electronic service delivery
Resource planning and allocation
ERP , HR, Treasury mgmt, Asset mgmt, eLearning,
eProcurement
Funding reallocation, Purchase Coordination
Government operations
Defense logistics, police mgmt, justice mgmt,
taxrevenue mgmt, GIS, local gov specific systems
Maximization of effectiveness of activities
Information consolidation and sharing
Coordination across agencies/countries
Collaborative tools, knowledge networks, document
mgmt, mobile, security, data warehouse, IP/VPN
Process integration
Interoperability across the value chain
EAI, web services, workflow
Source IDC
20
Local Government Major IT Priorities
100
5
With Plan to invest by end 2004
Priority
75
50
25
0
1
GIS
CRM
Electronic ID
Citizen Records
Collaborative/KM
Budgeting Systems
Citizen Web Portals
Citizen Call Centers
Asset Management
Back Office Systems
ERP and BackOffice
Content Management
Security Technologies
Electronic Procurement
Public Security Systems
Database/Datawarehouse
eCommerce Technologies
Source IDC
21
Becoming Information-Driven
22
Oracle Corporation Background
  • Largest Enterprise Software Vendor
  • Over 260,000 Customers
  • 23,000 Applications customers
  • 50,000 Employees
  • 13,000 total developers
  • 8,000 applications developers
  • 6,000 total support staff
  • Support in more than 90 countries
  • serving over 27 different languages
  • 15,000 Global Partners

23
Oracle CorporationOur Business
  • Database Business
  • Middleware Business
  • Applications Business

24
Three Decades of GrowthFrom Hyper-growth to
Maturity
The Mature Years
The Turnaround Years
1995-1999
2000 on
1980s
Early 1990s
The Early Years
The Dot.com Boom
20
25
The Oracle StoryBecoming Information Driven
  • Business Strategy
  • Drive down costs -- 1 billion in cost savings
    build a foundation for growth
  • Use information to drive performance
  • Grow through innovation acquisitions
  • Protect shareholder value
  • Technology Alignment
  • Simplify IT platform
  • Automate standardize global business process
  • Adopt self-service
  • Leverage low cost computing
  • Take advantage of business intelligence
  • Invest in sustainable compliance

26
By Becoming Information-Driven
Oracles 2 Billion Dollar Savings Target
Previous New Goal Mil Goal
Mil Consolidate IT 200 250 Sell Side
550 1,450 Buy Side 150
200 Inside 100 100 Total
1,000 2,000
Note Based on Oracle estimates.
27
Similar Challenges Face State GovernmentConferenc
e Sessions
  • Implications of Sarbanes-Oxley on the Public
    Sector
  • Internal Control and Audit Issues
  • Linking Strategic and Fiscal Planning
  • Electronic Receipts , Electronic Payments
  • Achieving Service Excellence
  • Shared Services
  • Business Intelligence  Making Better Decisions
  • Business Continuity and Disaster Recovery
  • Security and Privacy

28
Customer Stories
29
State of North DakotaBecoming Information Driven
  • Business Strategy
  • Replace aging mainframe systems with a single
    solution
  • Connect employees at 58 agencies and 10 higher ed
    institutions
  • Strengthen internal controls
  • Streamline Student Administration

Building our future in North Dakota means
building an integrated technology infrastructure
for our schools and government, as well as a
strong communications backbone for our
state. North Dakota Governor John Hoeven
  • Business Benefits Realized
  • Standardized on a single financial system for
    both state government and higher ed
  • 9.9 million savings through decommissioning of
    legacy systems and process improvements
  • Workflow, authorizations, and commitment control
    enforce accountability and compliance

30
New York City Housing AuthorityBecoming
Information Driven
  • Business Strategy
  • Upgrade business systems
  • Drive down costs
  • Improve budget process
  • Provide more efficient procurement
  • Streamline maintenance management

Public Sector entities are challenged to provide
high quality services in an ear of diminished
resources. Douglas Apple General Manager New
York City Housing Authority
  • Business Benefits Realized
  • Minimized HUD funding risks
  • Boosted labor productivity in finance, purchasing
    and warehouse operations
  • Lowered excess stock and inventory costs
  • Shortened delivery time to housing developments

31
The Future of Applications
32
Evolution of Application Technology
33
The Future of ApplicationsService Oriented
Architecture
  • Pull together disparate systems Legacy,
    internal, web, client-server
  • Single View Agencies Pubic Housing, Dept. of
    Corrections, Dept of Human Services, Social
    Services, State Controllers Office
  • Adaptability, flexibility to respond to new
    requirements, new legislation

34
Industry is ConsolidatingDriven By Customer
Demand for Less Complexity
Recent Oracle Acquisitions
  • ERP Business Processes
  • Industry Business Processes
  • Middleware

ERP
Retail
Financial Services
Business Process Execution Language
Security for Web Services
35
PeopleSoft AcquisitionOracles Commitment
Support All Product Lines
  • Protect applications investment
  • Provide more functionality with a lower TCO
  • Ensure a smooth upgrade path

Oracle E-Business Suite
Oracle Applications
JD Edwards EnterpriseOne World
PeopleSoft Enterprise
36
In SummaryIs Leadership Worth the Effort?
If you do all these things, no one will thank
you. You probably wont get a raise or promotion
and many will still be critical because change is
difficult. But you will build a bond with those
you work with that will extend beyond your
professional relationship and you will have the
personal satisfaction of knowing you have made
fundamental changes in the way your government
conducts its business and manages those dollars
entrusted to it by the taxpayers. Martin
Benison, Massachusetts State Comptroller
37
You CAN Make a DifferenceThese People Have.
Dan Ebersole Phil Bryant Glen B. Gainer
III Keith Johnson Vern Larson Connie
Nass Martin Benison Paul Carlson Robert
Childree Harvey Eckert Kim Garnero Kim
Oliver John Radford Tom Sadowski Sadie
Rodriguez-Hawkins Jan Sylvis
38
Success is peace of mind which is a direct
result of the self-satisfaction in knowing you
did the best of which you are capable.
John Wooden
39
Success isnt permanent and failure isnt fatal.
Mike Ditka
40
Giving people self-confidence is by far the most
important thing that I can do. Because then they
will act.
Jack Welch
41
Some recent books to read
  • Wooden on Leadership
  • By John Wooden

Winning by Jack Welch
42
We will be known by the tracks we leave behind.
Some Final Thoughts on Leadership
- Dakota Proverb
43
A
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