[Fachbeitrag] Investment controlling is responsible for all investment planning, control, and monitoring of the investment planning process and is thus a substantial part of corporate practice. We have listed the 5 biggest challenges for you and show you where there is potential for optimization.
Overview and central control
One of the challenges in investment controlling is to keep track of all budget and investment requests. It often takes a considerable amount of time to find out which employee submitted which application and what the approval status is. The reason for this is often that applications are still submitted via Excel tables and consolidation of the applications is not automated. The result is that the entire process, from the application to the review of the investment, is delayed.
Simplify the application process for departments
Investment applications submitted by departments are often difficult to understand. As a result, avoidable errors occur, which lead to unnecessary rework. The applications could be simplified by making the investment application in stages and with a clear rough estimate.
Follow-up of applications
When applications are submitted and processed by staff in Controlling, they often find that they need to be reworked. The reason is often that the applications have not been properly entered. Such time-consuming rework can be remedied by providing the departments with a contact person from Controlling or by making the forms simple and self-explanatory.
In order for the applications to be processed correctly in Controlling, it is important to have a clean approval process. This ensures that the applications are received by the persons to be approved on time and that they are processed promptly. The approval process must be adapted to the circumstances of the respective company, be highly flexible and allow for revisions.
Currently, in 80 % of the companies, all applications are still entered and sent using Excel. In other companies, software solutions for process automation are already in use. Available standard solutions or individual developments support the application process and enable the central control of investments.
Find out in the White Paper about three suggestions for taking your investment controlling to a new level: to the White Paper page