The annual “Finanzgipfel” has become a highlight on the agenda of Finance & Controlling Executives across industries. Here are our key take-aways of the 2019 event, which took place this Tuesday in Wiesbaden, Germany.
At this year’s “Finanzgipfel”, the CAMELOT team including our Finance & Controlling experts Uwe Radtke, Stefan Spieler and Konstantin Wassmer had a fantastic interactive session with more than 20 controlling leaders and experts. We highlighted the biggest threats and opportunities for the digitalization of Controlling, elaborated a picture where Controlling is currently located in the CAMELOT Maturity Model of Controlling Transformation, and discussed the target picture of what the role of a Controller will look like in the future.
The common view was that digitalization will help to speed up all quantitative activities, like data creation and the modelling and running of, e.g., reporting and planning tools. This will help Controllers focus on their actual job to analyze data, tell the story, create and track measures and support management decisions – and to create more real value for a company, being a real partner for the business. Furthermore, we discussed the important question of existing budgets for this transformation process. The result was that 50% of the participants are satisfied with the budgets. The biggest limitation is not money, it is the limited resources and the lack of know-how in the companies.
Another important conclusion was that we are not only talking about a next step in the evolution of the Controller, we also have to fulfill a paradigm shift, which affects the culture, the organization, the role of Controlling, the processes, the information provided and for sure the system landscape. If you are interested in the most important success factors for a sustainable controlling transformation – based on the participants’ experiences – follow the link to the detailed documentation of the session:
Another highlight for us: A graphic recorder captured our session live in picture – with a most impressive result!