Author: Salvatore Corradi – FM Chairman
Within a business reality, it is of vital importance to adequately monitor the equity and economic-financial performances. The managers of Business Controlling therefore play a fundamental role within a company since they must be able to reduce the overall costs as much as possible, punctually reaching the set goal.
Making use of trained, competent and always up-to-date personnel in the area of Cost Control has innumerable advantages, first of all (and apparently also the most trivial) that of having reduced business expenses. Once it has been established how much money the company will have to allocate for various resources or activities, the managers and financial planners will be able to correctly work out the available budget. Thanks to the scrupulous and contained management of costs, the company will have reserve funds, so that it can afford to make investments that could favor the development of the company in the long term.
Mapping the different internal activities and verifying their productivity are key elements that allow you to guide your company towards successful results. Once again, we ask for the help of the management control experts, who are able to recognize which are the activities that are working adequately and then they intervene on those activities that seem to present some type of problem or slowdown and, if necessary, make cuts. It is therefore clear that to improve decision-making it is very important to develop the necessary financial skills.
It should be taken into account that in recent years the economic and management aspects of a company are of interest not only to Finance experts, but they are also being directed towards Human Resources managers. The latter are increasingly involved in wage cost control strategies, becoming valuable helpers in containing global expenses. Take, for example, the figure of the HR Cost Controller, who must ensure the correct management control of personnel costs, support the team of managers in the formulation of the budget managing the various wages. Therefore, in large companies, as well as in small and medium-sized enterprises, the cooperation and support of line managers who deal with finance are essential.
A choice that could prove successful both for newbies to the subject and for those who already work in this functional area but need to implement their skills, is to make use of specialized Training programs in corporate control. There are valid, concrete courses that, above all, put the participants in front of practical cases and typical business scenarios applicable in everyday working life. Choosing a high-quality training course for yourselves or for your employees can represent an important turning point for the individual and corporate future.