Simon Wong is currently a Global Zero-Based Budgeting (ZBB) Manager with Anheuser-Busch Inbev's Global Budgeting and Business Performance Group based out of the firm's Global Executive Headquarter in NYC: to build the best beer and the best consumer goods company in the globe.
Prior to joining AB Inbev, Simon was a Consultant with Accenture Management Consulting practice with an industry focus on consumer goods. His consulting work was in advising clients on restructuring & transformation issues through analyzing industry, strategic, financial, organizational, operational and technological perspectives.
As a former restructuring and transformation consultant, his specialized skills are in sustainable rapid cost reduction through a combination of operating model/organization design, zero-based budgeting and procurement to establish the capabilities and culture needed to drive cost out of businesses systematically and continuously, whether to fund future growth (organic or M&A), repay debt, or improve margins. He was a subject matter adviser in Accenture's zero-based budgeting domain. He has had experience in managing multiple workstream and coach team members on cost management engagements and conducted quality control for accuracy of deliverable across multiple cost reduction client projects.
He is deepening his cost management/revenue growth/restructuring expertise at AB Inbev through:
- SG&A cost management, COGS & fixed capital productivity improvements as well as revenue management such as price setting & realization, product/service competitiveness, and customer penetration & retention
- conducting integrated 3 statement financial models & 13-week cash flow models, cash management & working capital management; valuation & investment in global product pipeline; M&A and competitive analysis
- working closely with lenders, financial sponsors, external advisors and internal (from CxO to line-managers) to ensure transformation program is successful executed
Global Budgeting and Business Performance Group: Global Zero-Based Budgeting (ZBB) Manager @ Be part of a big dream and building the best beer and the best consumer goods company in the world. As a key global financial resource providing analytical support to the Board and the Executive Team Members, in particular the Chief Finance/Technology Officer, Chief Supply and Chief Procurement Officer, among my role's responsibilities are:
- Roll out Global Productivity Model Best Practice to identify additional opportunities in Fixed Packages expenses management (Price and Consumption)
- ZBB Simple Cost Categories management and alignment with Procurement & Finance Teams in Global scope
- Global ZBB Systems development with Integrated Business Service Team: the ZBB Next Level Project; Global ZBB Simulators development; Monthly ZBB Cost Visibility; GHQ ZBB Tool focus on Simple Cost Categories
- Develop Global 3YP and 1YP and budget base assumptions
- Combine recent performance and benchmarks with planned initiatives to build base assumptions
- Develop and maintain (continuously improve) model at comprehensive level of detail
- Link business KPIs expected evolution to financial targets
- Long term capital allocation (OpEx and CapEx) decisions
- Track major project initiatives and report impacts to 3YP / budget costs
- Challenge the valuation and investment in the global product pipeline
- Conduct competitive analysis and ad hoc analysis to CEO, Board and Executive Team Members
- Collaborate with the Treasury and Merger & Acquisition teams within the Strategic Budgeting and Business Performance group and the Investor Relation group From March 2015 to Present (10 months) Corporate Resturcturing Consultant (focus on Consumer Goods in Enterprise Cost Reduction) @ Engagement Profiles:
A multinational beverage corporation in soft-drinks and nonalcoholic beverages for a $3B restructuring program: SG&A Cost Reduction (cost visibility creation, cost reduction target and org design approach) Subject Matter Adviser (October 2014 - December 2014)
A multinational confectionery & food company for a $1.5B (to improve EBITDA by ~23%) of an overall $3.5B restructuring program: Sustainable Rapid Cost Reduction – Global Non-People Cost Co-Lead (January 2014 - January 2015)
- Co-led a team of eight consultants to implement the zero-based budgeting processes and infrastructures including cost benchmarking, financial statement analysis, newly defined cost policies, a cost savings tracker and a budgeting tool for $850MM savings
- Led a team of six consultants to create a cost visibility to clearly outlay the “who” and “what” of the $13B in Sales, Marketing, R&D and G&A cost structure
- Led a team of three to define the level of granuality of the bottom-up budgeting tool and trained the client's finance and budgeting leads from NA, LA and EEMEA regions to budget FY15 SG&A.
A global U.S. based food company: Private Equity Post-Acquisition $1B Restructuring Program through Implementation of the Rapid Cost Reduction - (June 2013 to January 2014)
- Part of the a team of eight working with a Brazilian private equity firm on an acquisition ($28B) to optimize the target's SG&A cost structure.
- Realized an aggressive $1B savings target within one year to increase EBITDA by 50% through defined SG&A category definitions & policies, a visibility of the entire firm's spend and developed quick win opportunites (the work is profiled by Fortune Magazine, WSJ, SeekingAlpha)
- Built a global cost visibility of client’s $4B SG&A to determine areas for savings opportunities
- Programmed an Excel (VBA) tool for ~500 finance users to zero-based company-wide FY14 SG&A budget
- Created a culture of cost conscious and a tone for the change in culture From September 2013 to March 2015 (1 year 7 months) Greater New York City AreaBusiness Analyst (Pre-Acquistion Operational Due Diligent Consultant & HR Recruitment Consultant) @ Engagement Profiles:
A Brazilian global private equity firm / A global U.S. based food company with market-leading ketchup products - (March 2013 to June 2013): Private Equity Pre-Acquisition Due Diligence on SG&A Rapid Cost Reduction
- Part of the a highly selective team of Accenture consultants working with a Brazilian global private equity firm and a Fortune 5 American multinational conglomerate holding company on the pre-acquisition due diligence of a global U.S. based food company (the largest food company acquisition in history).
- Conducted cost procurement (price) reduction opportunity assessment
- Designed a new globalized procurement Operating Model that has an optimization of the FTE mixes, shared service model and more defined roles and responsibilities
- Developed a Global Spend Assessment Analysis
- Developed program management tools to support the Rapid Cost Reduction Opportunities
A global professional services firm specialize in risk & investment management and human resource consulting: global talent acquisition strategy and transformation (February 2012 - February 2013)
- Conducted research and analysis for a recruitment transformation business case development (such as the current state assessment, the future state vision, the opportunities, cost / benefits on proposed initiatives, the indicative investment and potential saving) for closing C-level executive meetings
- Designed a new recruitment operating model
- Co-led program management, provided advices and guidance in governance & operating model, processes, reporting & metrics, sourcing strategy, selection methods and policy harmonization
Other Notable Achievement:
- Top 3 finalists in national analyst case competition; A case for Accenture Venture Capital to fund high potential start-ups
- Awarded an Accenture Knowledge Sharing Honorable Mention Award for being a top 0.5% (among over ~250,000 employees) in knowledge sharing, contribute and cultivate other colleagues. From January 2012 to August 2013 (1 year 8 months) Greater New York City AreaFounder / Managing Consultant @ • Founded a consulting firm focused on creating value through data analytics/visualizations
• Provided advisory service to The New York Times on differentiated email marketing offerings to increase the number of online subscribers using predictive analytics techniques
• Provided data structuring and design, build and test analytics functions and dashboard for non-profit organizations
• Provided public policy research analysis and insights for non-profit organizations From June 2011 to January 2012 (8 months) Greater New York City AreaPublic Policy Analyst / Project Consultant @ Worked to promote freedom, protect freedom, and prove that freedom works. Dedicated to restoring citizens’ power and prosperity through limited government, free enterprise, and individual liberty and responsibility.
• Formulated state-level public policy recommendations to a wide range of South Carolina audiences: grassroots, mass media, legislators and the governor
• Led research program management and managed junior analysts/research assistants From July 2010 to July 2011 (1 year 1 month) Columbia, South Carolina AreaKoch Associate @ The Koch Associate Program was established to identify up-and-coming leaders and entrepreneurs interested in liberty and help them develop the knowledge, skills, and experience necessary for careers with market-oriented think tanks, policy institutes, and other non-profit organizations.
• Selected as one of the 70+ associates from 1,300+ applicants to participate in a competitive one year fellowship about management philosophy, methodology used by Koch Industries From June 2010 to May 2011 (1 year) Washington D.C. Metro Area2008 Jacksonville Charter Corps. Member @ Served as a fully credentialed teacher in a high-need school with Teach for America (TFA), selected as one of fewer than 12 percent of top applicants from tier-1 schools with a passion to close the achievement gap in education.
• Achieved highest results among all staff as measured by the state’s standardized math exam: 89% passed the exam and 93% of 150+ high school students made significant academic gains
• Co-led a committee to raise $10K and cultivated stewardship between 50+ TFA teachers From June 2008 to June 2010 (2 years 1 month) Jacksonville, Florida AreaFellow, Research @ Selected as a four-month long fellow in the research team to work closely with the research team to help produce the Partnership’s unique series of high-visibility reports, insightful issue briefs, original surveys, and innovative research projects (such as the often-cited Best Places to Work in the Federal Government initiative). From January 2007 to May 2007 (5 months) Washington D.C. Metro AreaBusiness Management Intern @ Participated a ten-week rotational management training program. From June 2005 to August 2005 (3 months) Gold PowerSeller @ Independent seller and distributor on technological products. From August 2002 to May 2005 (2 years 10 months)
Bachelor of Science in Business Administration, Economics, Accounting, Statistics and Communication Studies @ University of Florida - Warrington College Of Business From 2004 to 2008 Diploma @ Marjory Stoneman Douglas High School From 2000 to 2004 Hang Kei Simon Wong is skilled in: Management Consulting, Strategic Consulting, Program Management, Business Case, Project Planning, Team Management, Data Analysis, Organizational Design, Business Restructures, Business Transformation, Operational Turnaround, Business Analysis, Cost Management, Financial Analysis, Business Process Improvement