Controlling plays a fundamental role in the management of finances and resources. As digitalization progresses, automation in controlling is also becoming increasingly 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 various hurdles that need to be overcome in order to achieve the desired benefits.
What are the hurdles?
One of the most common reasons for the failure of automation in the financial sector is the lack of a digitalization strategy. Without a clear strategy, planning and objectives, it will be difficult to implement automation successfully. A comprehensive analysis of the existing processes and a clear idea of the desired objectives are crucial to the success of the automation process.
Another stumbling block can be the lack of resources in the finance department and the lack of integration of in-house IT. Without sufficient human and technological resources, it will be difficult to implement and operate automation effectively.
One factor that is often overlooked is the quality of the data. The automation of financial processes requires high-quality and consistent data. If the data quality is inadequate, the results of the automation may be inaccurate or incorrect. Companies must 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 decisive role. The introduction of automation technologies can bring major changes to the entire organization. Employees must be able to understand and use the automated processes and adapt to the changed workflows. Effective change management, which includes training and awareness-raising, is therefore essential in order to exploit the full potential of automation in controlling.
How can failure be prevented?
To successfully implement automation in controlling, companies should follow 10 steps.
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Automation in controlling offers companies the opportunity to increase their 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.
