Standard KPI Template for the Controller Position in a Business
What does a KPI template for a Controller look like? Why is a Controller essential for a business? Let’s explore the KPI template for this position with 1Office in the article below.
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1. Defining the KPI template through the Controller’s job description
The KPI template for the Controller position needs to have comprehensive content, a clear job description, and specific job requirements.
The Controller position is indispensable in a business
1.1 Who is a Controller?
In English, a “Kiểm soát viên” is a Controller. This position is responsible for all activities related to the accounting profession, including:
- Management accounting;
- Senior accounting;
- A company’s financial operations.
Typically, the financial Controller reports directly to the Chief Financial Officer (CFO). However, in smaller businesses, one employee may hold both positions simultaneously. The main duties of a Controller include: supervising financial reports, assisting in the preparation of operating budgets, and performing tasks related to payroll.
Read more: The most accurate KPI template for an IT System staff position
1.2 Common job description for a Controller
The job description for a Controller needs to be clear and specific in each area of operation:
- Verify the integrity and legality of the Board of Directors, Director, Chairman, or General Director in managing business operations and exercising the company’s ownership rights;
- Directly appraise business situation reports, financial statements, and management evaluation reports before submitting them to relevant state agencies and the company owner.
- Attend meetings and discussions of the Board of Directors and other important company meetings;
- Propose additional solutions, amendments, and restructuring of the management and operational organization for the company’s business;
- The Controller has the right to review the company’s documents and records at branches, representative offices, or the head office. Accordingly, members of the Board of Directors, Directors, etc., are obligated to promptly provide information on management, ownership rights, and operations as requested by the Controller;
- The Controller must perform other rights and obligations in accordance with the company’s charter.
What are the duties of a Controller?
Read more: KPI template for an accountant position in a business
1.3 Job requirements
The job requirements for a controller include:
- The job requirements document helps the business recruit a Controller suitable for its business model.
- At least 10 years of experience in finance or accounting;
- Bachelor’s degree in finance, accounting, or business administration; Master’s degree preferred;
- Candidates with professional certifications or a Certified Public Accountant (CPA) license are preferred
- The Controller must not be related to the family members of the Board of Directors…
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2. KPI template for the Controller position
After defining the job description, the manager should build a KPI template for the Controller to monitor daily work. This helps motivate employees.
2.1 What content should a KPI template for a Controller include?
When building KPIs for a Controller, the manager should not deviate from the organization’s plans and goals
2.1.1 KPIs must be closely linked to the company’s plans and goals
Managers need to closely align with the company’s plans and goals when building KPIs:
- What are the objectives that the Controller needs to achieve?
- What are the key performance indicators (KPIs) for the Controller?
- What are the tasks that the Controller needs to implement?
KPIs must be closely aligned with the company’s plans and goals
2.1.2 Aspects of KPIs
The aspects of a controller’s KPIs include:
- Responsibilities: What does the Controller need to do? What are the expected results for the Controller?
- Authority: What company resources can the Controller use to perform their duties?
- Benefits: What does the Controller receive upon completing their tasks?
Read more: KPI Template for the Head of HR and Administration
2.1.3 KPIs for Controllers
KPIs for Controllers include:
- Quantifying achievable goals at different levels: Company, individual, department;
- Monitoring and reviewing documents and records.
2.2 Sample KPI Template for Controllers
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3. Secrets to Building Effective KPIs for Your Business
Building KPIs is a crucial task for businesses that want to improve employee performance. However, many companies face difficulties in the process of creating and applying KPIs for their organization.
Understanding the challenges businesses face during the digital transformation era, 1Office offers a comprehensive business management solution with a suite of digital tools to help companies standardize recruitment and HR management processes, improve work efficiency, and save time, costs, and other resources.
HRM – A feature set that supports human resource management tasks in the enterprise: Recruitment; digitized record storage – can solve all HR management problems by rapidly digitizing all data.
1Office – The comprehensive business management solution
Separated by 1Office into its own module due to its importance, the KPI Management & Evaluation software allows businesses to manage a library of criteria, targets, and monthly KPI results for employees. This KPI table can be linked to the payroll table to calculate salaries.
With 1Office, you can set up KPI evaluation criteria according to managers’ preferences. Additionally, you can easily digitize all evaluation criteria, and manage storage clearly and in detail on the software.
KPI evaluation is separated by 1Office into its own module due to its importance. The system allows for customizable formula setups to evaluate KPIs according to managers’ preferences.
This feature allows businesses to manage a library of criteria, targets, and monthly KPI results for employees. Users can easily digitize all evaluation criteria, and manage storage clearly and in detail on the software.
This KPI table can be linked to the payroll table to calculate salaries.
KPI evaluation is separated by 1Office into its own module due to its importance
Within a business, there can be various KPIs each month, and an employee might even be included in multiple different KPI evaluation tables.
1Office will automatically compile a general consolidated KPI table. For personnel included in multiple KPI tables, the system will default to using the highest KPI score for the consolidated table.
1Office’s KPI evaluation makes assigning and managing employees’ daily tasks easy and convenient, saving time for managers and improving employee performance.
This helps projects run on schedule, or even ahead of schedule. Managers can identify outstanding or underperforming employees for rewards or disciplinary action.
Building a KPI template for controllers is a new step for businesses in managing and promoting their development.
1Office hopes this article will be helpful in building and applying KPIs at your business. Additionally, 1Office continuously updates articles with useful knowledge in business administration, so don’t forget to follow us!
In addition, if you are interested in and learning about building KPIs for your employees, please register for a trial of the 1Office software at 1office.vn to better understand the KPI evaluation solution in work management!
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