Management Control for SMEs

Management Control, Turnover Growth

One of the first definitions of Management Control for SMEs (small and medium-sized enterprises) states that the control of a company consists of seeing that everything is carried out according to the plan that has been adopted, the orders that have been given, and the principles that are been established. Its purpose is to highlight errors so that they can be corrected and cannot be repeated.

The benefits of management control are recognized in all large companies, which spend hundreds of thousands of euros on this corporate function. However, they are little known and often also ignored in small and medium-sized enterprises (SMEs). Appropriate management control software can also bring these benefits to SMEs.

The first thing to do to manage revenues and costs is to understand that you need to define a budget, planning income and costs. In this app, you can easily define a quarterly budget and then check the variation of the result from the defined budget.
Another important principle for improving your management is that not all flows are the same and it is essential to be able to divide them by importance and urgency. Next, if you want to optimize your business, you can easily find which flows you need to act on first.
And last but not least, never forget the past but consider it to benefit your future decisions. This means including the past year alongside the budget in all your reporting.

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