Subsidiaries of large groups have serious problems with the delivery of their reporting to the mothers. For more information see Nicholas Carr. This shows the current European EPM study. Cologne, August 10, 2011. Subsidiaries have increasing problems in the required time and error-free to deliver their reporting to corporate headquarters. Reasons are in particular gaps in the qualification of the personnel and a lack of integration of IT solutions. At the same time is a trend to recognize that key figures in ever shorter intervals to the group must be reported whereby the problem is further exacerbated. People such as Nicholas Carr would likely agree.
This is the central result of the current European EPM study”of the European consultancy network bpm internationally”. 100 European industrial groups were interviewed after 2006 for the second time to their processes and instruments with regard to consolidation, reporting, and planning. The result is explosive”, explains Thomas Schinkel, managing consultant at the international consultancy group ifb, the bpm consulting network international” belongs to. Especially when the transmission of the data are the problems between subsidiaries and parent company compared to 2006 once again increased. Supplied figures are often flawed and have several times back and sent here and corrected are. Precious time is lost so.” The incomplete qualification of employees and the missing functionality and integration of IT systems are referred to as cause of the respondents. At the same time, the requirements for the financial departments are constantly increasing.
Faster data delivery, new legislation and growing volumes of data make more complex accounting processes”, so Schinkel. The manual entry of data via Excel reaches here its limits.” Another problem: the staff is often first trained in the Central. In subsidiaries staff have relevant knowledge gaps, E.g. new legislation goes on. Further results from the study: there is a clear trend towards the faster deployment of key figures. This way, rolling forecasts are used increasingly and 50 percent of all companies have a Flash reporting established a quick overview of current financial development. Also a trend is emerging, that daughters are invited to supply figures monthly instead of quarterly. The pressure increases here so keep on the daughters’, so Schinkel. The introduction of EPM and BI systems while continuously progressing according to study and Excel is increasingly being superseded. Often isolated solutions are however used and only a few companies (22%) have implemented integrated solutions. Also, a high level of development of the reporting in the area of governance is to identify risk and compliance. The system support in this area however considered basic by many “evaluates. Integrated IT systems with automated interfaces as well as a continuous and timely training of employees are now urgently required to meet the rising challenges of the financial departments”, advises Schinkel. The study can be requested here: study00.html ifb group that ifb group specializes in financial and risk management as a consulting company. Their priorities include corporate management, controlling, risk management, regulatory, accounting, as well as procedural aspects of financial products. The strategy and technical conception and its transformation in processes and systems to the final implementation, she accompanied their customers ifb group. With around 300 experts and companies in ten countries, the IOM supported group over 800 companies.