Management Control software: purchase guide
What is Management Control software?
Definition
Management control software concerns all IT solutions that facilitate the work of individuals in charge of management control within a company. They make it possible to eliminate certain routine tasks but also to develop a more in-depth analysis of the company's performance.
Firstly, ERPs (Enterprise Resource Planning) facilitate the preparation of budgets, performance monitoring, harmonisation and transmission of information within a company.
Then, more specific tools help the management controller in certain aspects of his work. Among them we can mention :
Expense management software
Pay slip verification software
Planning tools
Financial management control software that allows scenario modelling
Compliance tools: tax regulations, safety rules, etc.
How does it work?
Management control tools enable companies to exploit all of their financial data. In interaction with accounting and payroll tools, etc., the software aggregates the data into dashboards with customised indicators.
In the case of budgeting, the user enters key information into the software: forecasts of purchases, sales, salaries, miscellaneous expenses, etc. The software automatically draws up the various budgets (supplies, sales, investments, etc.). All the user has to do is to develop scenarios, analyse them and choose the most relevant one. Predictive analysis tools applied to financial management are interesting to measure the credibility of each scenario. Reports can then be produced and exported in a format chosen by the user (Word, Excel, PDF).
