The importance of financial control and business management

New times, new challenges. A few years ago the response time in financial and analytical  terms was not a relevant problem. The markets operated more or less predictably and without significant  fluctuations.  In current times, the position of the Financial Controller and business management is essential, especially in constantly evolving globalized businesses, located in highly competitive environments with low margins. This puts the position of the Controller very close to the company’s “core business”,  enabling us to anticipate the future based on the analysis of past and present results from all business perspectives.

Carlos Doménech, Group Finance Controller of Dacsa Group, has experience in the field of consulting and financial auditing in multinational companies and is part of the financial and management controlling team. He is one of the people in charge of coordinating all Dacsa Group companies with regard to the creation and fulfillment of their budgets and the measurement and monitoring of the strategic plans, among other tasks.

Dacsa Group currently  operates across five international locations and is in the process of  expanding. Monitoring the accounts  during this process and achieving its objectives is, in large part, the responsibility of the Control department.

They are responsible for the design and supervision of financial systems for management, based on historical information and forecasts, with the main focus on the Income Statement. The direct relationship with all the group’s branches is a priority in order to generate synergies and information flows that allows us to function as a first-class multinational.  Receiving quality information is integral to the core business  helping ” upper management”  with decision making.

The financial and business Controller not only validates and reports each plant´s financial account results to management, but also collaborates in the preparation and measurement of annual budgets, analyzes the competition, assesses customer risks, calculates costs (of product and processes) and analyzes the feasibility of new group investments, among others. This entails, in many cases, traveling to different plants to carry out the work in person. Carlos Domenech emphasizes the importance for him of being able to make quick decisions: “We must quickly anticipate potential problems,  be agile in correcting mistakes and take advantage of opportunities. To achieve this, being well informed is the key ”

He also insists on the importance of working as a cohesive group, which helps to strengthen ties between the different locations. Collaboration must be constant with all people working in Dacsa Group being 100% involved in this mission. The communication between the different departments and offices must be fluid and constant, as making decisions in advance depends on it: “This allows us to obtain  highly reliable financial information with which we work. This information is the key, “says Carlos.

The work carried out by the control department helps consolidate us as the ‘Dacsa Group’, a single entity synchronized across all its locations.  The control, requirements, supervision and team work of all the professionals that make up the Dacsa Group, will undoubtedly help us to continue growing in order to achieve our goal of being highly competitive leaders in a globalized market.