Automation in Controlling: Success Factor or Stumbling Block for Companies?

by | Jun 13, 2023

Dhe Controlling has a elementary role in the management of finances and resources. With the advancing digitalization, automation in controlling is also becoming more and more important. It offers companies the opportunity to work more efficiently, save time and resources, and improve the accuracy of results.

Despite the obvious advantages, many companies fail to successfully implement automation in controlling. There are several hurdles to overcome to achieve the desired benefits.

Where are the hurdles?

One of the most common causes of automation failure in finance is a lack of a digitization strategy. Without a clear strategy, planning and goal setting, it will be difficult to successfully implement automation. A comprehensive analysis of the existing processes as well as a clear vision of the desired goals are crucial to make the automation process successful.

Another stumbling block can be lack of resources in the financial area and the lack of involvement of thehe in-house IT. Without adequate human and technological resources, it will be difficult to effectively implement and operate automation.

An often overlooked factor is the quality of the data. The automation of financial processes requires high-quality and consistent data. If data quality is inadequate, automation results may be inaccurate or erroneous. Companies need to ensure that their data is reliable and take appropriate measures to ensure high data quality.

In addition to these technical aspects, change management plays a crucial role. The introduction of automation technologies can bring about major changes throughout the organization. Employees must be able to understand, use, and adapt to the changes in automated processes. Effective change management, including training and awareness, is therefore essential to exploit the full potential of automation in controlling.

How can failure be prevented?

In order to successfully implement automation in controlling, companies should 10 steps to follow.

Automation in controlling offers companies the opportunity to increase efficiency, improve the accuracy of results and free up valuable resources. TD Trusted Decisions is at your side to find the best possible solution for your individual needs and to support you in the successful implementation of automation in controlling.

Let automation become your success factor and take advantage of the opportunities it offers you!

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