Development and expansion of reporting and control systems
Reporting and control systems are crucial to ensure that a company is managed effectively and that strategic goals are achieved. The systems fulfill the function of early-warning systems.
A reporting system collects, analyzes, and presents information about a company’s performance. It helps managers to make informed decisions. This includes financial reports, operative key figures, and strategic analyses.
A control system ensures that the actual performance is in line with strategic objectives. It includes measures for error detection, correction and improvement of business processes.
A reporting and control system is set up in the following steps:
- Definition of clear objectives to be achieved by the reporting and control system.
- Identification of key performance indicators (KPIs) that best measure performance and progress against targets.
- Identification and integration of relevant data sources for reporting, including financial data, customer feedback, employee performance, etc.
- Selection of suitable tools and software for generating reports. These can include dashboards, regular reports or ad-hoc analyses.
- Development of control mechanisms to ensure that the data collected is accurate and reliable.
- Automate repetitive reporting and control processes to improve efficiency and accuracy.
- Staff training for the effective use of the system and clear communication of the importance of reports and controls.
- Regularly review and adapt the system to ensure that it meets the company’s changing requirements.
With our years of cross-industry and entrepreneurial experience, we support you in setting up and expanding an elaborate reporting and control system in order to react quickly to changes, identify opportunities, and minimize risks.