Nicolas Boucher Profile picture
Apr 13, 2023 14 tweets 4 min read Read on X
How to understand and reduce overhead costs?

A mini-course

🧵 Image
Finance does not do enough to challenge the Overhead expenses.

Why? Because we think that we can't do much about it... I also thought that there was no possibility to improve overhead costs. Image
How to change group fees?

How to reduce personal costs?

This seemed impossible. But one day, I was assigned to reduce structural costs. I had no other solution than... finding solutions.
Together with my other colleagues from management, we launched a project to improve the competitiveness of the company.

And we succeeded to reduce costs despite inflation costs!
Why did it work?

I realized that reducing costs was like any project and with a good methodology, you could achieve your goal.

But many finance professionals are still struggling with the topic.
Overhead and the impact on the operating profit Image
How can you analyze Overhead expenses 1/2? Image
How can you analyze Overhead expenses 2/2? Image
How can you reduce personal Overhead costs 1/2? Image
How can you reduce personal Overhead costs 2/2? Image
How can you find levers to reduce group recharges? Image
How can you reduce external services 1/2? Image
How can you reduce external services 2/2? Image
If you like this mini-course, retweet and follow me.

#finance #costreduction #cfo #competitiveness Image

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More from @BoucherNicolas

Mar 7
How can you use AI for Finance?

Below, I am telling you how 👇

Here are the five stages you need to go through: Image
1. Beginner

You know AI exist but you don’t know where to start and you are afraid to start because of confidentiality issues.

👉 My advice to go to the next level:
Start using ChatGPT or Bard (it doesn’t matter which one) and do this:

Today take notes of all the mini tasks you do at work.
Tomorrow, try to perform each of the tasks with ChatGPT by just asking:
“My job is X and I want to do Y, can you draft it for me?”

It might only work 20% of the time… but that’s already many use cases in one day!

PS: don’t give any confidential information about your company, clients or colleagues.
2. Basic

Now that you have discovered some ways where it works and some where it doesn’t, you need to be more methodologic.

To go to the next level you need to use my framework for prompting.
It will bring consistent results which provide you value.
Here is the framework: CSI for Context / Specific / Instruction
And then add FBI for Format / Blueprint / Identity
CSI+FBI : this is the secret framework I teach in all of my courses and corporate workshops.
Read 7 tweets
Mar 1
20 Best Excel YouTube Videos

Open the thread to find the videos: Image
1. Excel for Accounting - 10 Excel Functions You NEED to KNOW!
By Leila Gharani

2. The Ultimate LOOKUP Guide (XLOOKUP, VLOOKUP, HLOOKUP)
By Kenji Farré

3. 4 Mins. to MASTER Excel INDEX & MATCH formulas!
By Mynda Treacy

4. Monthly Budgeting & Forecasting Model [Template Included]
By: Eric Andrews

5. Excel Formulas YOU NEED for Business & Finance Roles
By Kenji Farré
6. How to Create a Chart of Accounts in Excel
By Tax Prep

7. Excel Financial Modeling | Sensitivity & Scenario Analysis
By Kenji Farré

8. You Won't Believe These Crazy PIVOT TABLE Hacks!
by Leila Gharani

9. Learn Excel MACROS in 10 Minutes Using Real World Examples
By Kenji Farré

10. How to Create Macros in Excel Tutorial
By Kevin Stratvert
Read 6 tweets
Feb 27
Is AI Going to Replace Excel?

I get this question all the time in my AI for Finance courses & keynotes.

Short answer: No.

Better answer: AI + Excel = Magic.

Let me explain. 🧵👇 Image
1/ AI and Excel are two different types of technologies. AI is great at processing large data and simulating human intelligence, while Excel is built for structured spreadsheet activities.
2/ In our world, we don’t need a mega brain for everything. To do 2+2, you don’t need a calculator—you use your brain or even your fingers.
Read 9 tweets
Feb 19
How can you use AI for Finance?

Below, I am telling you how 👇

Here are the 5 stages you need to go through: Image
1. Beginner

You know AI exist but you don’t know where to start and you are afraid to start because of confidentiality issues.

👉 My advice to go to the next level:
Start using ChatGPT or Bard (it doesn’t matter which one) and do this:

Today take notes of all the mini tasks you do at work.
Tomorrow, try to perform each of the tasks with ChatGPT by just asking:
“My job is X and I want to do Y, can you draft it for me?”

It might only work 20% of the time… but that’s already many use cases in one day!

PS: don’t give any confidential information about your company, clients or colleagues.
2. Basic

Now that you have discovered some ways where it works and some where it doesn’t, you need to be more methodologic.

To go to the next level you need to use my framework for prompting.
It will bring consistent results which provide you value.
Here is the framework: CSI for Context / Specific / Instruction
And then add FBI for Format / Blueprint / Identity
CSI+FBI : this is the secret framework I teach in all of my courses and corporate workshops.
Read 7 tweets
Jan 17
The 48 Laws of Power Applied to Finance

Here is my The 48 Laws of Power Applied to Finance,

Inspired by Robert Greene's timeless principles. Image
💡 1. Never Outshine the Master

💡 2. Never Put Too Much Trust in Friends, Learn How to Use Enemies

💡 3. Conceal Your Intentions

💡 4. Always Say Less Than Necessary

💡 5. Guard Your Reputation With Your Life

💡 6. Court Attention at All Costs

💡 7. Get Others to Do the Work, But Always Take the Credit

💡 8. Make Others Come to You

💡 9. Win Through Actions, Not Arguments

💡 10. Avoid the Unhappy and Unlucky
💡 11. Keep People Dependent on You

💡 12. Use Selective Honesty and Generosity to Disarm Your Victim

💡 13. When Asking for Help, Appeal to Self-Interest

💡 14. Pose as a Friend, Work as a Spy

💡 15. Crush Your Enemy Totally

💡 16. Use Absence to Increase Respect

💡 17. Cultivate an Air of Unpredictability

💡 18. Isolation is Dangerous

💡 19. Know Who You’re Dealing With

💡 20. Do Not Commit to Anyone
Read 7 tweets
Dec 27, 2024
Free Excel Template

Complete Financial Statements + Key Ratios
👉 Save time and money with this free template

Like, comment "Excel Free Template," and DM me to get the link to download the free template.

Note: You must follow me so I can reach out to you.
Here is what is included:

1) Profit and Loss Statement
2) Balance Sheet Statement
3) Cash Flow Indirect
4) Cash Flow Direct
5) Ratio Analysis

Like, comment and follow to receive the template.
Due to huge amount of your requests, here is the link to download your free template: nicolasboucher.kit.com/financial-stat…
Read 4 tweets

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