Imagine that you are a CFO in a company with several locations and subsidiaries. It is Friday afternoon. You are getting ready to leave the office and take your family on a long-awaited weekend trip.
Then your phone rings. It is the chairman of your board of directors. The board would like a briefing on the current cost base and an updated forecast. Also, they want an overview of potential short term cost savings associated with potentially closing one of your locations. You need to help them understand how quickly overhead savings can be materialized and how this will affect the current cash flow projections. When? Monday morning.
What about the weekend trip? Do you cancel it and disappoint your family? At House of Control, we take pride in claiming we are the CFO’s best friend. Often, we mean it in the most practical way. Since 2006 we have provided a fast-growing number of CFOs with the means to control the business. Our software is the key to provide the board of directors – and all other stakeholders – with the kind of data mentioned above. The numbers are instantly available, so you can cater to your board’s wants – and your family’s expectations.
We put ourselves in the CFO’s shoes when we develop software. In the case of our industry-leading contract management software Complete Control, we provide very user-friendly solutions that connects the company’s contracts to future cash flows. These data along with the built-in reporting tools are the core reasons why the CFO can join the family’s weekend trip and still have the insights ready on Monday morning.
However, we can do more for the CFO than helping her or him impress on the board of directors. The same software alerts the CFO before important contracts expire. This functionality can have truly strategic importance, as it leaves time to renegotiate agreements critical to the company. Once all your company’s contracts are centrally stored, you also have the means to improve contract management and reduce costs by cancelling deliveries you don’t need any more. And when control improves your company’s risk is reduced. Your colleagues in the finance department will appreciate that the speed of budgeting increases as well as the ease with which they can match invoices to existing contracts. A substantial proportion of our customers also use our software for IFRS 16 lease accounting – the market-leading solution in the Nordics.