Effective communication is critical to the success of all businesses. For the technical manager-whether internal or external, shared services or level two support-understanding the financial goals underlying in an organization's business strategy is a fundamental component of successful partnerships within an organization.
The most successful technical managers engage with their business partners through a shared understanding-and language-of an organization's financial goals and requirements. Honing that understanding by learning the financial terms and concepts involved increases cooperation and provides more opportunity for achieving success.
As a business-focused manager, it is imperative to communicate how technical activities translate into financial benefits that impact the business as well as how business strategy can incorporate more effective technical support to achieve its goals. Technical managers can add more value to their organizations by developing an understanding of costing, planning (budgeting/forecasting), accounting, valuing, and communicating that information to the business in financial terms.
This course will provide the tools to develop this understanding and explore core concepts such as total cost of ownership, return on investment, and value analysis (all essential to justify changes, prioritize work, and obtain support for initiatives).
What You Will Learn
- Planning (budgeting), accounting, charging
- Difference between budget, allocation, and chargeback
- Different types of chargeback models
- Difference between revenue and costs
- Cost drivers
- How to use an understanding of costs to better manage your business
- Return on investment
- Value on investment
Who Should Attend?
- Anyone responsible for managing resources and who needs to improve their financial skills
- Support center managers, technical support mangers, desktop support managers, support center directors, technical support directors
Unit 1: Introduction
Unit 2: Overview of Financial Management
- Goals and objectives of financial management
- Cost Accounting
Unit 3: Planning (budgeting/forecasting)
- Developing budget - key categories that are typically addressed
- Managing budget and forecasting - daily, weekly, monthly, quarterly activities
- Provide samples of budget (primarily focused on categories)
Unit 4: Accounting
- Budget reconciliation - includes sample reports
Unit 5: Valuing
- Calculating value
- Chargeback models
Unit 6: Investment Analysis
- Identify techniques used to justify and prioritize investments
- Return on investment
Unit 7: Related Concepts
- Service portfolio
- Business case
- Service catalog
- Asset management
- Linear and closed-loop financial management
Unit 8: Time is Money
$1,495 | Price:
Facilitated by a faculty member, this two-day, public course allows students to actively participate in exercises and discussions as well as network with peers from other companies.
- Maintain adequate coverage in your support center by staggering training dates.
- Focus on learning by being out of the office.
- Structured discussions facilitate networking and learning from real-world experiences.
- To learn more about public classroom training, contact an account manager or call 1.800.248.5667.
View the Public Classroom FAQs.
HDI can train your team at your facility, eliminating individual travel costs and putting more control in your hands.
- Control class size and pick training dates that accommodate your business schedule.
- Focus on your organization’s key issues and pain points.
- Save money. With groups of eight or more, this option is often more cost effective.
- To learn more about this program, contact an account manager or call 1.800.248.5667.
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