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:

  1. Definition of clear objectives to be achieved by the reporting and control system.
  1. Identification of key performance indicators (KPIs) that best measure performance and progress against targets.
  1. Identification and integration of relevant data sources for reporting, including financial data, customer feedback, employee performance, etc.
  1. Selection of suitable tools and software for generating reports. These can include dashboards, regular reports or ad-hoc analyses.
  1. Development of control mechanisms to ensure that the data collected is accurate and reliable.
  1. Automate repetitive reporting and control processes to improve efficiency and accuracy.
  1. Staff training for the effective use of the system and clear communication of the importance of reports and controls.
  1. 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.