Controllers, get in control!
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The document discusses how a newly appointed controller can get control of their new role. It addresses controlling the team, understanding the business and strategy, analyzing financial data and reports, and ensuring clean and quality data. The controller is advised to understand their team roles and dynamics, analyze the company's market, strategy, processes and key metrics. They should also evaluate reporting structures and data quality to ensure accurate and useful reporting. Maintaining control requires monitoring for changes, continuous improvement, and self-care.
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Controllers, get in control!
- 1. Get in Control Nick Van Maele BIMAC event 14 Nov 2013
- 2. Context • A newly appointed Controller… • How to get to grips with… – (new) team – understanding the business – reporting, data and systems • Framework : people processes 14 November 2013 BIMAC - Get in Control systems page 2
- 3. Get in control PART I - THE (NEW) TEAM
- 4. Different people, different roles Planter Resource Investigator Belbin © team roles Co-ordinator Shaper Monitor Evaluator Implementer Teamworker Based on general psychology (Jung) Completer Finisher Specialist 14 November 2013 BIMAC - Get in Control page 4
- 5. First 90 days in a new job (*) Mentally switch to your new role Secure early wins Build your team Create coalitions Accelerate your learning Negotiate success Expedite everyone Match strategy to situation Achieve alignment Keep your balance (*) “The first 90 days”, Michael D. Watkins, Harvard Business Review Press, 2013 14 November 2013 BIMAC - Get in Control page 5
- 6. organisation lifecycle – STaRS model Recove ry cycle Succeed Fail Realignment Sustaining success • • • Fail Turnaround Fail Crisis cycle Shutdown / divestiture Succeed Growth cycle Fail Start-up Succeed Lifecycle of companies or business units or teams Every stage has predictable psychology Identifying situation enables selecting an effective change strategy 14 November 2013 BIMAC - Get in Control page 6
- 7. Get in Control PART II - THE (NEW) BUSINESS
- 8. Understanding the business • Understand the market – suppliers / customers / products / competitors / substitutes • Understand the strategy – strategy map / what are the real drivers? • From strategy to implementation – business processes – where is the value added? – correct KPI’s? KPI’s translated to operational reporting? – monitoring processes? improvement? changing behaviour?
- 9. Understand “the numbers” • Analyse profitability – P&L / Cash flow / Balance Sheet – Working capital / ‘real’ profitability per customer or product • Business applications and data – – – – – which business application creates which data? how are they interlinked? (interfaces) data design & data quality? how does it flow to reporting? (filters, manipulations, …) what needs to be developed / automated? • Case: “difficult to load customer invoices” • Case: “DIO – days of inventory on hand” 14 November 2013 BIMAC - Get in Control “what is a customer”? “when in inventory”? page 9
- 10. Get in Control PART III - THE (NEW) REPORTING
- 11. Basics of reporting • Good reporting clean analytical dimensions – cost center, cost element, project, ... • Dimension Attributes – one attribute = one characteristic – e.g. address, type, class, group, net weight, … • “Clean” hierarchies – built with one and only one attribute
- 12. “Dirty” hierarchies mix attributes ID First name City Hair colour Loyalty Sales 001 Peter Brussels brown silver 100 002 Anne Brussels black gold 150 003 Marie Paris blonde gold 170 004 Dana Zagreb black bronze 65 characteristic1 = "city" Total Brussels brown black Paris blonde Zagreb black characteristic 2 = "hair colour" 001 14 November 2013 002 003 BIMAC - Get in Control 004 page 12
- 13. “Clean” hierarchies on one attribute ID First name City Hair colour Loyalty Sales 2010 001 Peter Brussels brown silver 100 002 Anne Brussels black gold 150 003 Marie Paris blonde gold 170 004 Dana Zagreb black bronze 65 characteristic 1 = "city" characteristic 2 = "hair colour" 485 Total 250 Brussels 100 001 Peter 150 002 Anne 14 November 2013 485 Total 170 Paris 65 Zagreb 170 003 65 004 Marie Dana BIMAC - Get in Control 215 Black 150 003 Anne 100 Brown 65 002 170 Blonde 100 003 Dana page 13 170 004 Peter Marie
- 14. (Master) data quality investigation • Investigate the quality of your data • Get involvement from management and end-users • Solve problems at the source – transactional systems – operational business process • Improve data processes and controls – creating / updating / archiving 14 November 2013 BIMAC - Get in Control page 14
- 16. Conclusions • Getting in control: multiple facets – people – business processes – ‘the numbers” • Staying in control – monitor for early warning signals of change – keep challenging and improving – take care of yourself 14 November 2013 BIMAC - Get in Control page 16
- 17. End Thank you nick.vanmaele@trifinance.be serge.vigoureux@trifinance.be 14 November 2013 BIMAC - Get in Control page 17