Digital Transformation in Controlling
How does digital transformation succeed in the financial sector? What needs to be considered when switching from Excel to professional controlling tools and do you always need a change manager for this?
As experts for digital transformation projects, the digitization team from smartPM.solutions accompanies you. It supports change management, process optimization and the selection and implementation of the right technology. Rely on our many years of experience and expertise for your digital transformation. Develop your “controlling” further and implement contemporary, agile and secure corporate management with modern methods and technologies. Automation and standardization support controllers and management in extracting the relevant information and making decisions. Work in a reliable, flexible system without interfaces and with a single data truth. Scenario comparisons, value driver analyses, initiative tracking and AI-supported forecasts ensure optimized corporate management. This not only makes sense in turbulent times, but also in “normal operation”.
Reversal of activities - more time for value-adding work
Relieve yourself and your controlling colleagues and reverse the pyramid of activities.
A controller with 25 years of experience made this presentation after the digital transformation had been implemented in controlling in his company. In short: The time saved in data merging and preparation can flow into value-adding analysis, planning and reporting activities. This is made possible by the introduction of professional controlling software (CPM & BI Tool). In addition, everyone will have more fun at work.
The questions you should ask yourself in the course of a digitization project can be found in the section “Are you ready for the digital transformation in controlling?”:
Are you ready for the digital transformation in controlling?
If you can answer yes to the questions of all project steps from 1-4, then you are ready to implement digitization in your company! If not, then you still have one or the other to-do.
1. Define processes and requirements
- Do you already know your requirements?
- Do you know the requirements of other relevant departments?
- Are these requirements all precisely documented so that they can be processed?
- External help for change management, the definition of requirements or business issues would make sense? (By the way, this is included in a digitization project with smartPM)
2. Get ALL relevant stakeholders on board
- The management and the board support you in your project?
- All those involved from relevant departments (incl. IT) supported the digitization project?
- All those involved, including management, have seen the benefits of using their own data (smartPM service)
- Do you have a budget for digitization or approval for this?
3. The right tool for support
- You agree that your current tool does not meet your requirements (e.g. Excel formula errors, variety of versions, data trust)
- The tool should support all your requirements and cover the areas of analysis, planning, budgeting, forecasting, reporting?
- Ideally, the tool includes useful business content and can be flexibly expanded/adapted?
- Do you already have a shortlist of eligible tools or have you already made your choice?
4. Implementation of digitization
- Do you have an implementation and consulting team with whom you would like to exchange technical information on an equal footing?
- Do you have confidence in the consulting team to optimally train your controlling team technologically and economically?
- Do you have a project-experienced consulting team at hand to help you with change management and process improvement?
- Do you have the opportunity to receive top support even after the project has been completed?
By experts for experts: The 'digital controlling competence' expert working group
New Expert Working Group ‘Digital Controlling Competence’ of the International Association of Controllers (ICV)
It is a network of scientists and FP&A experts, meeting 2-3 times a year in a 3D-conference setting. The ambition is to enrich digital competencies, investigate new technologies, tools and FP&A change approaches making companies ready for future. How? Scientists, pioneering and benchmark companies share their knowledge and experience with the interested controller community. Focus topics of the ICV Expert Group Digital Controlling Competence are …
