We all know objectively, every entrepreneur and every decision maker, that an active corporate management is essential for economic success. It is clear – which key role is played by information and its proper processing.
The legal obligations, which are to be met apart from that, are to be met as secondary condition.The quality of the processed daily data is crucial to ensure that the information is available in a very short time for many issues and different interested parties resulting from the basics such as charts of accounts, policies and governance structures.
But how is the daily practice?
Do the mentioned issues above get the necessary space?
Do we base our decisions on clear, reliable information from our systems?
Problems often found are:
Numerous different or differently used charts of accounts and only partially existing booking and accounting guidelines, lack of uniformity in the reporting structures as well as various IT systems. Conditions that have developed over time by the growth of the company.
The consequences are poor data quality and thus lack of transparency. Monthly/quarterly reports come late and to some extent incomplete. The result is an above-average capacity commitment for agreements.
“Gut decisions” are made without a database and they are increasing. Or in other words: It is not transparent how and where the data is generated!
Solution and Objective
The goal is clear: Optimized master data structure and clear processes which are respected and serve as a basis to show very quickly where the company, the department, the product and/or the customer stand.This should be entirely simple, understandable and clearly presented.We will jointly develop and define how this has to look like in your company.
Only then, the realization takes place! Every market and every company has specific requirements that have to be met.
Side effects in the efficiency and effectiveness will additionally streamline your company! Let us talk about it.