Collaborating on Effective Solutions with Financial Limitations

The Client

Government department with management responsibility of public funds

Key Takeaways

Collaborated with client to find effective solutions with a limited budget.

Identified a two-prong solution: one delivered by Kaplan, and one delivered by the client’s existing internal team.

Improved the communication and partnerships between their finance and non-finance staff, in addition to compliance with key procurement processes.

The Challenge

A government department was responsible for managing public money and had seen an increasing need for greater accountability due to scarcer resources. The budget holders were under mounting pressure for their financial decisions.

Our client’s population of budget holders was large and extremely diverse in terms of experience, background, and geography.

The client believed that some form of training would help them to be more effective in their financial management roles. However, they didn’t have the internal resources or expertise in place, and a large, externally delivered training program was not financially viable.

The Solution

To work within these financial and resource constraints, Kaplan determined that the most appropriate solution was a joint delivery of training. Our specialist team worked closely with key client stakeholders to design a multi-layered program. This solution served as an introduction for those that needed it, a refresher course for others, and a challenge for everyone. Here are some of the program highlights:

  • Delivered program to an initial audience of 100 priority managers.
  • Observed these sessions in order to subsequently take over a portion of the program deployment.
  • Implemented the next phase of program delivery through a process of participation, briefings, and discussions.
  • Created a framework around being practical and participative, and incorporated case studies and examples designed to address the client’s priorities and issues.
  • Addressed and resolved behavioral issues, such as having a silo mentality when managing budgets and forecasting, and the problems this mindset creates.
  • Worked closely with the client to define how participants could apply the key learning points in the workplace.

Participants were encouraged to make a note of key action points at the end of each intervention. These notes were then used as the basis of post-program assessment to help measure the effectiveness of the program and to encourage the subsequent application of the learning.

The Result

The client experienced an improvement in the communication and partnerships between their finance and non-finance staff. There was also better compliance with key procurement processes, such as requisitioning and receipting, improvements in the accuracy of accruals information, and better forecasting.

To attest to the longer-term effectiveness of the program, the Head of Financial Capabilities provided the following feedback:

“The training has been well received, delivered by both Kaplan and our subsequent in-house versions. The quality of forecasting information has improved within the department, and the business managers are more financially aware. Kaplan’s input and involvement has greatly contributed to our achievements.”
Head of Financial Capabilities

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Key Takeaways

Assessed the wide range of qualifications and skills amongst new fund managers.

Designed a customized program to disseminate adequate and equal financial knowledge and training.

Instilled a practical understanding of accounting practices, macroeconomics, financial modeling, and other training to complete their skill set.

Key Takeaways

Focused on two-prong approach to increase commercial and financial success.

Developed an effective strategy that addressed financial implications of decisions.

Applied role-playing scenarios to test return on profitability, interact with stakeholders, and improve interpersonal skills.

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