How Financial Controller Can Keep You Out of Difficulty
Financial controller have always been in a difficult situation at agencies: if an agency is doing well, it allegedly does not require financial controlling services, if business remains static, agencies put all of their eggs in the basket of acquisition and when times are bad, agencies simply do not have the money to pay for financial controlling activities.
Financial controllers often rapidly gain the reputation of being penny pinchers and creativity killers. A good financial controller, however, can help to secure employees' jobs. Small and medium-sized companies in particular often tend to underestimate how important the field of financial analysis is.
Why is financial analysis so important?
The advantages of financial analysis are clear to see: professional financial controlling services for agencies provide a transparent analysis of an agency's working processes and its customer and supplier relationships. They also provide agencies with operating figures concerning their profitability and performance, as well as utilisation and load data, all of which come together to give management teams a well-founded and constantly up-to-date basis for their corporate decision-making processes.
The classic problem when it comes to agencies' poor operating figures is the fact that too much time is spent on individual activities . These excessive working hours are not always due to a lack of staff commitment, but sometimes also occur as the result of false calculations. A somewhat haphazard approach to dealing with passing on external costs is another profitability killer.
Financial controller often reveal a truth that not everyone wants to see
In the present day, the majority of agencies rely on projects that are extremely susceptible to fluctuations and are therefore particularly susceptible themselves. Agencies cannot survive on a long-term basis without professional analysis tools because without these instruments, they are unable to respond to constantly changing framework requirements or can only slowly respond to such changes. Agency software can help agencies to identify future scenarios.
I therefore recommend that every agency, regardless of its current level of business success, invest in professional and self-confident financial analysis services for agencies. This is the only way for agencies to ensure that they are able to continue to exist on a long-term basis whilst meeting the increasingly difficult framework requirements involved in the market.