{"id":4362,"date":"2017-07-07T07:34:21","date_gmt":"2017-07-07T05:34:21","guid":{"rendered":"https:\/\/hub.hslu.ch\/financialmanagement\/?p=4362"},"modified":"2024-08-05T16:47:15","modified_gmt":"2024-08-05T14:47:15","slug":"from-lord-of-he-numbers-to-lord-of-he-data","status":"publish","type":"post","link":"https:\/\/hub.hslu.ch\/financialmanagement\/2017\/07\/07\/from-lord-of-he-numbers-to-lord-of-he-data\/","title":{"rendered":"From \u201eLord of the Numbers\u201c to \u201eLord of the Data\u201c"},"content":{"rendered":"

\"Gysler<\/a>
\nby Prof. Dr. Thomas Gysler<\/a>, Lecturer at\u00a0the Institute of Financial Services Zug IFZ<\/a><\/em><\/p>\n

A short reflection about the impact of digitalization on the sphere of a controller\u2019s activity.<\/em><\/strong><\/p>\n

The current wave of digitalization will impact the purview of the controller significantly. Those controllers who have been focussed on financials and management accounting will find themselves challenged by their superiors, as the demand for integrated information across the whole business is rapidly increasing. To be able to supply this kind of information, the necessary data needs to be available in good quality. So the controller has to ensure, that all the relevant IT systems of an organization deliver compatible and consistent data. Failure to do so will increase the cost of information and limit the effectiveness of the controllers\u2019 work. \u00a0The main challenges will be the \u201eAmount of data<\/strong>\u201c, \u201eCompatibility<\/strong>\u201c, and \u201eConsistency<\/strong>\u201c.<\/p>\n

Amount of data
\n<\/strong>Modern industrial equipment is able to generate and supply loads of data about its activities. The responsibility to integrate such an amount of data into the company\u2019s data architecture cannot be left exclusively to the IT specialists any more. IT is able to collect, store and safeguard the data. But only the controller can integrate the data into an overall picture, can convert data into information. This means to link \u201etechnical\u201c data to \u201efinancial\u201c and \u201eoperational\u201c data, to support important tasks like pricing, supply chain management, dynamic warehousing or simply depreciation. Data mining and other techniques that can be applied to the task are already available.<\/p>\n

Compatibility
\n<\/strong>The focus of this article is not on technical compatibility, but on the logical one. The exact same things have to be measured consistently at every site of the enterprise. Else the data cannot be consolidated, is flawed and loses its value. Here the tasks range from defining a common accounting policy to making different charts of accounts match, from clearly defining the products to assigning the necessary cost and revenue.<\/p>\n

Consistency
\n<\/strong>A business\u2019 system and equipment need to be constantly updated. But a new procurement or cash management system will directly impact the data architecture which needs to be updated. This needs to be done in a way, that analysis using past and future data is possible, that there is no consistencies break.<\/p>\n

To draw a conclusion, the modern controller needs to broaden its knowledge and activities into the fields of data architecture and data management. He will have to take the responsibility of monitoring the enterprises actions on a data level and converting that data into beneficial information.<\/p>\n","protected":false},"excerpt":{"rendered":"

by Prof. Dr. Thomas Gysler, Lecturer at\u00a0the Institute of Financial Services Zug IFZ A short reflection about the impact of digitalization on the sphere of a controller\u2019s activity. The current wave of digitalization will impact the purview of the controller significantly. Those controllers who have been focussed on financials and management accounting will find themselves<\/p>\n","protected":false},"author":236,"featured_media":4364,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","ngg_post_thumbnail":0,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[94545,403,493967],"tags":[129455,346585],"class_list":["post-4362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-intelligence-informatik","category-controlling","category-digitalisierung-social-media","tag-controller","tag-digitalization"],"acf":[],"yoast_head":"\nFrom \u201eLord of the Numbers\u201c to \u201eLord of the Data\u201c - 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