The role of the Chief Financial Officer (CFO) is evolving before our eyes. A key tool in the hands of a modern finance leader is digital controlling. It enables a shift from reactive reporting to proactive strategy‑shaping and building lasting competitive advantage. But what exactly is digital controlling, and how can a CFO lead the organisation through this change?

Table of contents:

What is digital controlling and why is it important for CFOs?
Benefits of implementing digital controlling
How to implement digital controlling effectively
Tools of the modern CFO
Challenges on the road to digitalisation – how to prepare?

What is digital controlling and why is it important for CFOs?

Digital controlling is much more than rolling out new software. It is a new philosophy of financial management based on real‑time data, process automation and advanced analytics. For the CFO, this means a fundamental shift – instead of spending weeks manually collecting and reconciling data from various departments, they gain an instant, consistent view of the financial health of the entire organisation. This allows them to focus on what matters most: trend analysis, forecasting, and strategic advisory to the management board. Investment in ERP systems is often considered the foundation of digital transformation, because only then can you obtain valuable information that enables precise steering of the business in real time.

Benefits of implementing digital controlling

Moving to a digital financial management model brings tangible benefits that directly impact company performance. Properly selected digital tools help finance teams and leaders make better‑informed decisions and forecast losses and profits with greater confidence. The main advantages include:

• Better decision‑making: Access to up‑to‑date, reliable data makes it possible to move away from gut‑feel assessments towards decisions based on hard facts. The CFO can continuously analyse project profitability, team efficiency, or the margin of individual services.
• Increased revenues and lower costs: Automation of processes such as electronic document workflow significantly reduces operating costs. At the same time, real‑time data visibility allows the organisation to quickly identify the most profitable activities and optimise resource allocation, leading to revenue growth.
• Greater financial transparency: An integrated system eliminates information silos. The CFO has full control over cash flows, receivables, and payables, which minimises risk and improves liquidity.

How to implement digital controlling effectively?

Implementing digital controlling is a complex project in which the CFO acts as both leader and architect of change. They not only need to choose the right technology, but also convince the entire organisation to embrace it. A strategic approach is the key to success.

Step 1: Launch digital transformation and choose the right technology
Digital transformation is a necessity. The company must leverage technology to streamline processes and improve collaboration. ERP software designed for project‑based businesses integrates all core business functions, enabling real‑time progress tracking as well as better financial and resource management. The choice of the right system – such as ERP, CRM, or a Business Intelligence platform – must be preceded by an in‑depth analysis of the company’s needs. The CFO should ask: What data do we need to make better decisions? Which processes do we want to automate? Which reports are crucial for the board and managers?

Step 2: Managing the human factor
Even the best technology will not deliver results without people’s engagement. Experts consistently point out that the biggest challenge of digital transformation is managing the human factor effectively, with clear responsibilities and smooth communication. The CFO’s role is to explain the benefits of the change to the team, ensure appropriate training, and address concerns related to automation. A transparent implementation plan and a clear demonstration of how the new tools will make day‑to‑day work easier are essential to overcoming the natural resistance to change.

Tools of the modern CFO
Digital controlling is built on an ecosystem of integrated tools that create a single, consistent source of truth about the company. At the centre of this ecosystem is usually the ERP system, which integrates data from different areas of the business.

• ERP systems: They form the informational backbone of the company. Modern systems such as Deltek Maconomy use AI mechanisms to analyse data and generate ready‑made reports on company and project finances. All it takes is a proven, coherent, and comprehensive system that supports work at every stage of project delivery. Among modern solutions, Epicor iScala and Epicor Kinetic are also worth mentioning.
• CRM systems: Implementing CRM enables full integration of sales processes with finance and project delivery, providing a complete view of customer relationships.
• Business Intelligence (BI) platforms: These enable advanced data visualisation, interactive dashboards, and deeper analytics that help uncover hidden trends and patterns.

Challenges on the road to digitalisation – how to prepare?

The path to fully digital finance comes with its own challenges. One of the main issues is lack of control over project finances. Without consistent, up‑to‑date data on budgets, expenditures, and invoicing, management cannot make well‑informed strategic decisions. Other potential barriers include implementation costs, the complexity of integration with existing systems, and the aforementioned employee resistance. The key to overcoming these obstacles is to treat digitalisation not as a cost, but as a strategic investment. Equipped with a solid business case and a clear vision of the future, the CFO can convince the board to support the project and steer the company toward a more agile, efficient, and data‑driven operating model.

Magdalena Szyba
Business Development, Todis Consulting

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