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Digitization boosts the controlling market in Romania, estimated at 80 million Euro

Management consulting company Horváth & Partners estimates that believes that in the near future, the digitization of financial departments will become a necessity and it will be a decisive factor in streamlining the services for controlling economic performance (controlling).

2019-05-14 22:08:51

According to estimates by Horváth & Partners, the value of this market segment in Romania rose in 2018 to around 80 million euro, or 40 per cent of the total local consulting market. Currently, the market for controlling consulting services continues to grow, amid digitization, becoming a mega-trend, including financial departments.

According to Horváth & Partners, if two years ago, the digitization of financial departments was a minor one, it has now become a priority concern. In the Central and Eastern European countries, two-thirds of companies have launched initiatives to increase digitization within their financial departments. Digital tools can provide significant savings in increasing efficiency, especially in data management and transaction processing, components of controlling.

"When the financial department uses the new tools and digital methods intelligently, the whole company can win. By using advanced analytical methods, the finance department gets a more efficient and proactive controlling system," emphasizes Kurt Weber, General Manager of Horváth & Partners Romania.

Horváth & Partners analyzes that about 90% of Romanian financial executives, up 7 per cent from 2017, support digitization trends in the current business environment and see the utility of changing corporate performance management from a reactive and analytical model to a proactive and predictive one.



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