“If you don’t know where you are going, any road can take you there”, this utmost quote from Lewis Carroll and replicated by many other people, is very well related to the business environment and, more specifically, to the importance of the controllership in the business’ directions. Showing where the business currently is and where it is going towards through financial, accounting and economical indicators attached to economical and market context is the key objective from a controllership area inside a company.
The information and analysis presented by the controller of a company should guide and give support to managers and shareholders’ decision making, therefore, they go way beyond a simply exposure of numbers. The professional working in this area must gather various multidisciplinary skills in order to be capable to translate and contextualize these indicators, suggesting measures and actions to maximize results or mitigate risks.
It is obvious that decision making must be supported by reliable data representing entirely the reality of the business. In order to get this trustworthy information and releasing the controller for more analytical and strategical activities, the market has been relying in Business Intelligence informational systems to help transforming the data collection more automatic, fast and consistent.
There is a number of reliable and renowned systems available in the market for different segments and sizes of businesses. When tailoring the system to company’s reality it is important to have the support of controllership professional and/or a consultant specialized in business administration so the indicators and reports fully comply to their needs. The report template may include indicators focused on operational and commercial performance, capital structure, profitability, etc. Besides, it is possible and recommendable to align these indicators to the strategy and the requested periodicity set by the company’s management.
Upon the availability and reliability of the business information brought by the Business Intelligence system and the critical analysis from a controllership professional, the decisions regarding which paths to follow will be taken with more certainty of where the business wants to get and this clarity increases chances of success and growth of the business.
Do you have clarity about the directions your business is taking in the current economic and financial context? Want some help implementing an effective controllership system that really support decision making? Get in touch with a consultant from Dutra Business Management to have more information.
by Gabriela Kauer
