When optimizing finance and controlling departments, structuring and specifying the need for action often pose a major challenge. There are many topics in a wide variety of action areas, which are not equally transparent to all relevant persons. How do finance and controlling leaders nevertheless find the most effective optimization levers?

In practice, finance and controlling departments often lack the necessary structure, from which the need for action can be easily and specifically derived. An example of such a structure is the controlling performance loop developed by CAMELOT Management Consultants, which maps the typical tasks and processes in finance and controlling areas. The CAMELOT Controlling Performance Loop enables a structured discussion in order to identify current strengths, weaknesses and urgent needs for action. In combination with a classification into the action areas: culture, organization, roles, processes, information and system landscape (CORPIS model), existing problem areas can be specified and prioritized, which in turn enables work packages to be derived.

Fig.1: The CAMELOT Controlling Performance Loop

Moderated, interactive workshops with the relevant people are a suitable approach and good starting point.

An open discussion and critical self-reflection along the performance loop represent the first step towards deriving an objective. The translation into specific work packages and their prioritization enable the planning of necessary activities along a timeline, including the definition of milestones. As a key success factor, clear responsibilities must be assigned to the activities, the availability of resources checked and the necessary know-how and manpower made available.

In order to ensure continuous improvement and further development, topics must be approached in an agile and proactive manner. Idleness is not an alternative! The heavy burden of daily business should not be an excuse to take a break and wait. So start now!

Comments

Leave a Reply

Your email address will not be published.

Recommended articles

Future Value Chain

Next-Generation Demand Management

Today’s increasingly volatile business environment forces organizations to rethink their approach to forecasting and demand management. From a technical point …

read more
Future Value Chain

Supply chain risk management – the rise of the forgotten

Supply chain risk management re-enters the spotlight of managers’ attention. Is your supply chain resilient? Do you know your vulnerabilities, also …

read more
Data & Analytics

Data Quality Management – A Main Pillar of Digitalization

Efficient Data Management is nowadays an important requirement for successful organizations. It’s the basis for accurate reporting and therefore sound …

read more