A guest article by Dr Bianca Drerup

Since the turn of the millennium the role of controllers has changed rapidly: Mainly seen as ‘number crunchers’ and ‘control freaks’ then, they are now highly estimated as management consultants and critical counterparts. The latest trends in digitalization and shared service organizations are also affecting this view: The range of responsibilities and technologies employed has changed so much up until now that companies need to totally restructure the role of controllers. The University of Duisburg-Essen recently carried out a study about such transformational processes, including the implementation of the Strategic Intelligence Software SOLYP3 at a consumer product manufacturer.

Business controlling is currently facing a dynamic stakeholder environment as well as new requirements with regards to technological change and the convergence of corporate functions. In order to meet these challenges, companies are launching various processes to adapt controlling functions, such as the reorganization or further development of controlling services or improved IT support for reporting.

By rule of thumb, how many key performance indicators do you think are there? 300? 500? Far from it! There are a whopping 17,000! At least if one is to believe the author of the book KPI Mega Library. Given this large number of KPIs, the question arises as to which to choose best in order to monitor and measure strategic progress. Unfortunately, there is no straight answer to this question. Too big are the differences between industries and companies. But here are some basic things to keep in mind when selecting KPIs...