Szabó Anna (2023) Implementation of additional KPIs in the Business Case Reporting of Research & Development projects using the advantages of digitalization. Pénzügyi és Számviteli Kar.
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Absztrakt (kivonat)
The study is attempted to present the effect of digitalization in controlling reporting system at a company. Nowadays digitalization is an important topic because of the huge amount of data with a short time to process. It could be an advantage if the data is processed in time and with meaningful results. Investment and project controlling is essential in companies, which are working with a rapidly and continuously changing environment, and they need to quickly adapt to these changes, and they have to provide innovative solutions. It involves monitoring the profit of the entire lifecycle of R&D projects, financial reviews of the BC, deadline supervision, and plan-actual cost comparisons. It is obvious, that digitalization has brought significant changes to controlling, requiring controllers to embrace roles beyond traditional functions. The rise of data science, Big Data, and cloud-based services is reshaping the skills and roles of controllers. Companies are recognizing the importance of developing digital competencies and automating controlling processes. The impact of Industry 4.0 is evident, emphasizing the need for IT skills, data management, and familiarity with Business Intelligence systems. Several articles highlight the evolving role of controllers, the emergence of data scientists, and the shift toward automation in controlling processes. The adaptation to digitalization is seen as crucial for controllers to remain relevant, with the expectation that the profession will go through transformation rather than elimination. The Business Case (BC) plays a crucial role in project controlling at Knorr-Bremse, providing a comprehensive financial perspective to aid decision-making processes. Project managers are primarily responsible for BC creation, with support from controllers with financial questions. BCs are updated quarterly and used in global asset register reports. This report is also used to give a risk assessment. The BC structure includes three templates for different project sizes: Standard, Delta, and Smart Business Case templates. Key Performance Indicators (KPIs) are critical for report generation and decision-making. The most meaningful KPIs are the following: Sales, Free Cash Flows (FCF), FCF Discounted Accumulated, Invest and Tooling Indicators, Capital Expenditure (CAPEX), Net Present Value (NPV), R&D Headcount (HC), R&D Reimbursement, R&D Effort. These KPIs provide a comprehensive view of project performance, helping project managers and stakeholders make informed decisions and take corrective actions when necessary. Furthermore, the created tool for project controlling reporting system facilitates the automation of new Key Performance Indicators (KPIs) insertion into Business Cases (BCs) and enhances the adaptability of report generation to small changes in BCs. The tool features a user-friendly main window with buttons for file import, report generation, and KPI addition. The benefits of the tool include the efficient insertion of new KPIs into numerous BCs with a single click, offering a long-term solution for future BCs based on the same template. Additionally, the tool provides a robust report generator that handles variations in BCs and seamlessly incorporates new KPI values into the generated reports. The tool's automation capabilities contribute to simplifying controllers' daily work, aligning with the broader goals of digitalization and process optimization. Overall, the conclusion is that digitalization helps to improve BC processes, offering real-time data accessibility, automation of routine tasks, and advanced analytics. The impact of digitalization extends to changes in controller roles, emphasizing the need for adaptability and skills in data analysis and new technologies. Furthermore, digitalization provides opportunities for efficiency, accuracy, and flexibility in controlling processes. The automation of routine tasks reduces manual workload, saving time and resources, and minimizes the risk of human error associated with manual calculations. Saving time on repetitive tasks allows controllers to focus on more value-added activities, for example project controllers can dedicate time to strategic planning, analysis, and proactive risk management instead of monotonic tasks. Digital tools enable controllers to identify and assess risks more effectively. Digitalization supports long-term strategic planning by providing comprehensive insights into performance metrics. Controllers can easily adjust plans and strategies in response to evolving market conditions. Additionally, automation ensures that reports follow a consistent format and structure every time they are generated. Standardized reports improve clarity and make it easier for stakeholders to understand and compare information across different projects. Due to digitalization, stakeholders can access information remotely, enabling quick and informed decision-making. In summary, digitalization in controlling offers a comprehensive set of benefits, ranging from improved data management and decision-making to increased efficiency and adaptability in a rapidly changing business landscape. While report automatization in project controlling streamlines processes, reduces errors, and empowers project controllers with timely and accurate information. These benefits collectively contribute to more effective project management and stakeholder engagement.
Intézmény
Budapesti Gazdasági Egyetem
Kar
Tanszék
Számvitel Tanszék
Tudományterület/tudományág
NEM RÉSZLETEZETT
Szak
| Mű típusa: | diplomadolgozat (NEM RÉSZLETEZETT) |
|---|---|
| Kulcsszavak: | automation, automatizáció - automatizálás, Business Cases, digitalization, digitalizáció, financial reporting, jelentéskészítés, KPIs |
| SWORD Depositor: | Archive User |
| Felhasználói azonosító szám (ID): | Archive User |
| Rekord készítés dátuma: | 2024. Jún. 28. 10:30 |
| Utolsó módosítás: | 2024. Jún. 28. 10:30 |
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