Finance - a global
experience
Pavia University
Wednesday 11th Nov 2015
Carmen Turnbull
Turnbull.carmen@gmail.com
Agenda
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Carmen Turnbull – Who am I?
Finance – is Global
Procter & Gamble journey
Barilla discovery
Questions
Carmen Turnbull
Born on 4th April 1978 in Bucharest
Followed an education tightly linked with sport at competitive level
In 1995 moved to Wolverhampton, UK, last 2 years of college
In 1997 gap year to work in France as au pair prior university
In 1998 back to UK, York, to start university
In 2001 moved to Newcastle upon Tyne, the start up with P&G
In 2007 moved to Paris, second leg of P&G journey
In 2012 moved to Parma – start up Barilla discovery
Global Finance
The global financial system is the worldwide framework. Since
emerging in the late 19th century during the first modern wave of
economic globalization, its evolution is marked by the
establishment of central banks, multilateral treaties, and
intergovernmental organizations aimed at improving the
transparency, regulation, and effectiveness of international
markets. (Wikipedia)
Buildup of Global Business Centers, Savings, Efficiency, Adapt,
Work hard play hard, Challenge yourself, must love what you do,
multi-language and multi-cultural environment (Carmen vision)
P&G vs Barilla
Started business in 1837 vs 1877
 Revenue $83 (€76) billion vs €3,5 billion
 International companies
 Sustain growth
 Highly contributors to local communities
 Slogan ‘Touching lives, Improving life’
vs ‘Dove c'è Barilla, c'è casa’
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P&G – leg one, GBS, UK
2001-2002 Treasury Transitions
2003-AP Projects team
2004-2006 Global Projects
P&G
1 Video P&G GBS
 2 Video P&G Corporate
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P&G – Treasury 2001-2002
• The birth of Global Business Centre (3rd one after US
and Asia)
• Transition of Europe & North Africa to Newcastle, UK
• Banking system change to a Global provider – Citibank
• Centralised Cash flow, Investments, Payments
• Steep learning curve and tight deadline to daily manage
Front Office, Middle Office and Back Office
• Manage Auditors
P&G – Treasury 2001-2002
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3 Banking scorecard excel
P&G – AP Projects team 2003
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Transition of Europe & North Africa to Newcastle, UK
Standardise the incoming transitions
Build up scorecards to monitor progress
Motivate individuals on efficiency, promote from within
Opportunity to join in house and external courses
Kick off planning to move business to HP partner
Introduction of CSA – Control Self Assessment that
leads to SOX compliance
P&G – AP Projects team - BSR
P&G – AP Projects team
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4 AP Scorecard work in progress excel
P&G – Global Projects 2004/6
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Competitive level with the other 2 GBS (Asia & US)
Share of expertise
Globally implement system upgrades
Lead training session for over 100 employees
Assure smooth introduction of Wella & Gillette
businesses under the P&G umbrella
P&G – Global Projects i.e. BSR
Obtain consistent accounts usage as per chart of
accounts.
 Standardize work processes within regions per
account.
 Identify unused accounts that might be removed.
 Identify account function and/or ownership changes.
 Document all exceptions in processes and/or success
criteria
 Define global success criteria with an account by
account approach accepted by all regions.
 Identify potential accounts for BSR automation.
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P&G – BSR Balance Sheet Rec
Carmen Turnbull – review
Born on 4th April 1978 in Bucharest
Followed an education tightly linked with sport at competitive level
In 1995 moved to Wolverhampton, UK, last 2 years of college
In 1997 gap year to work in France as au pair prior university
In 1998 back to UK, York, to start university
In 2001 moved to Newcastle upon Tyne, the start up with P&G
In 2007 moved to Paris, second leg of P&G journey
In 2012 moved to Parma – start up Barilla discovery
BARILLA GROUP (video)
Barilla discovery
similar experience with leg one P&G
2012 – Managed the Treasury transition
from France
 2013 – Managed the European Treasury
Back Office team (BO)
 2015 – Ensure successful transition of
BO to the outsource partner Accenture
 2015 started a new challenge – Internal
Controls

Barilla 2012 – Treasury France
Manage the FR transition to Parma
newly established ESSC
 Front Office, Middle Office, Back Office
 6 banks, 6 bank accounts, cash
fluctuating in / out daily
 Objective: control cash, build up the
bank relations and aiming to use one
bank for payments and one bank for
incoming funds

Barilla 2013/14 – Treasury BO
Managed a team of 3 employees
 Project 1 – Automation of bank
statements (60% of business)
 Project 2 – Automation of vendors’
payments to one platform
 Project 3 - Standardize the Balance
Sheet Rec.
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Barilla 2013/14 - Treasury BO
Common Objective for all projects:
Build
up procedures
Provide adequate training for the team
Standardize the payments process
Focus on efficiency & accuracy
Avoid urgent payments
100% elimination of manual payments
Timely manage payment rejections
European calendar for payments
Barilla 2015 - Treasury transition
Back Office outsourced to Accenture:
Assure
smooth transition, minimal impact on daily
operation
Clarify the tasks to remain ‘in house’
Provide training for the new team members
Review processes to readapt to new organization
Support the team for 3 to 6 months on
operations
Barilla
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6 KPIs Barilla
Carmen Turnbull – review
Born on 4th April 1978 in Bucharest
Followed an education tightly linked with sport at competitive level
In 1995 moved to Wolverhampton, UK, last 2 years of college
In 1997 gap year to work in France as au pair prior university
In 1998 back to UK, York, to start university
In 2001 moved to Newcastle upon Tyne, the start up with P&G
In 2007 moved to Paris, second leg of P&G journey
In 2012 moved to Parma – start up Barilla discovery
P&G – leg two, MDO Paris, FR
Close to business
2007-2009 Budget Ctrl Pharma
•Group sold to Sanofi Aventis in 2009
2010-2012 Budget Ctrl Wella
•Group sold to Coty in 2015 (incl. perfumes)
P&G – Budget Controller
Stewardship :
- Control of Actual data according to P&G standards
- Ctrl Self Assesment, BSR, Audit: participation and overview
Build the business :
- Monthly Budget review
- Provide risks & opportunities analysis
- P2P implementation & compliance
- Support ongoing projects
Build the organization :
- Ongoing training / guidance for the Budget
Key targets for MDO sites - to
increase NOS
Increase NOS
in M€
Increase NOS
in €/su
•
Develop new products
• Increase list prices
•
Increase volume of existing
brands
• Reduce promo discount
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- Optimize marketing
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- Increase distribution
(Horizontal & Vertical)
• Optimize volume split
- Push profitable sku’s
Volume
x List Price
= Gross Sales
- Rebate 1
- Promo LOR
- Cash discount (3%, 8 Days payment)
= Net Sales 1 NIV
- Rebate 2 (Year end bonus)
- WKZ (Back Margin)
- RFS (Wholesalers)
From Volume to
NOS & VC
= Net Operating Sales NOS
- Total Delivery Cost TDC
= Gross Margin
- MDE : Trade Marketing  Carmen
- BSE: Media  Carmen
- S&RA (Structure Cost)
= MDO Value Contribution VC
P&G – Budget Ctrl Pharma
P&G – Budget Ctrl Pharma
P&G – Budget Ctrl Pharma
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7 - Pharma BSA FY0809 Actonel Actual
V8 excel
GBU DELIVERY
EMEA
STATUS, STRATEGIES
& ACTION PLAN
Ralf Billharz
Jeff Davis
33
World leader in coloring: 47% turnover in France
34
August 24, 2009
P&G Salon Professional France &
Belgium
35
Wella
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8 Video Wella
The professional network is 22%
of hairdressing market
Ventes globales Haircare : $60Bn
Professional
22%
Retail
78%
37– Source One 04/05 mkt size est.; Professional Source: Retail
WIREmarket 04/05, CMK Prof (Schumacher) – adj. to Jan BPE FX
The portfolio to cover the entire market needs
PRESTIGE
(> €13 / shampoo)
Marques sous l’ ombrelle
PREMIUM
(< €13 / shampoo)
LIFESTYLE
(> €6 shampoo)
38
P&G Professional Salons France:
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11 000 clients (over 35 000 salons)
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56,000 M€ de Net Outside Sales (NOS)
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# 2nd On French Market with 16% market share
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Training
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4 studios (Paris International studio) & 3 other centers in France
2 to 3 relaunch of products / year
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#1 L’Oréal : 50%
#3 Schwarzkopf: 11%
2008/09: Sebastian – Color Touch
2009/10: System Professional – Blondor
Every year 5 to 10 products’ initiatives
225 persones in France
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39
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122 Sales force
39 Education (hairdressers training leaders)
36 Customer center (orders / invoicing)
P2P progress – June to Nov
France
Professional Care France Total
MDO (in MSU / M€)
Volume
Actuals FY08/09
Jul 08 - Juin
09
In % of
NOS
In % of
GS
1 195
IYA
80
Gross Sales
93 105
156,8%
100,0%
80
Remise 1
26 555
44,7%
28,5%
91
Remise 2
4 806
8,1%
5,2%
37
MDA LOR / WKZ
2 384
4,0%
2,6%
146
Total Remises
33 745
56,8%
36,2%
77
NOS
59 360
100,0%
63,8%
82
TDC
15 068
25,4%
85
Marge de contribution
44 292
74,6%
82
SR&A
32 639
55,0%
90
MSE
5 428
9,1%
79
898
1,5%
96
5 327
9,0%
53
OIX
Value Contribution
P&G – Budget Ctrl Wella
P&G – Budget Ctrl Wella
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9 Wella MSE Budget tracker Studio de
Paris Education
Do not forget to have a right
work life balance!
Any Questions?