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Management control in Hungary Management control in Hungary

Management control in Hungary: Always stay aligned with your goals

One of the fundamental steps that an entrepreneur should go through if they have decided to invest in Hungary is management control.

Planning a goal is in fact the first step towards achieving it, while control and monitoring follow afterwards – fundamental elements that should remain aligned with the progress of the project.

We support companies in Hungary with a management control service aimed at achieving the best business results.

Whether it’s for SMEs or more structured companies, we help optimize business processes to allow you to always be one step ahead and not lose sight of your business objectives.

How management control works in Hungary

For 25 years, we have been helping companies monitor and verify the results of their business, putting a team of professionals and experts in the sector at stake to aim for 360​​° management control.

Checking the progress of a company is a bit like managing a constantly moving gear, where time, resources and costs intervene. In our case the gear is the company and our objective when we intervene is to find the right balance between the different elements, and to manage possible internal or external interference.

Specifically, our management control service in Hungary includes:

  • Accounting control
  • Check of the validity of the numbers
  • Budget analysis
  • Analysis and preparation of the final budget (internal link to the “financial statement drafting and analysis” page)

To get even more specific, the work of our team is based on these phases:

  • Planning
  • Implementation
  • Control
  • Reporting

In this phase, all the guidelines for the achievement of your projects are traced. You start by defining the path to achieve your goals, regardless of whether it is a winding path or a flat road.

Our team of experts (internal link to the team) will then go on to monitor costs, resources and estimated times in defining the company trajectory, helping to define the best distribution in the company areas.

The goal is to emerge from this phase with a real operational plan that allows your company and your team to always stay aligned with the objectives.

Implementation is the phase where everything that has been planned is set into motion.

Here, our team moves onto the actual optimization and the overall performance of the company management.

In the event that there are deviations from the objective, we will intervene by effectively distributing resources and optimizing time and budgets.

Optimizing resources means minimizing the risk of differences between costs and business sector revenues, and improving the profitability of individual businesses. For this activity we rely on numbers and the collection of data from various areas of your company.

In this phase, which often overlaps with the implementation phase, it is essential to monitor the progress of activities and analyze data.

Here, too, the ITL Accounting team will deal with any internal or external deviations from the project, evaluate progress based on the forecasts and identify some changes for aligning your whole company towards achieving the objectives.

The final phase of management control in Hungary corresponds to shaping the results achieved and assessing the actual performance of the company.

It is the phase of numbers, data and reports drawn up to provide an authentic representation of where the business sits and assess whether the goal has been achieved, and, if not, what can be done to improve it.

In this phase we process the data to produce reports based upon real information that serve to align the company towards optimization of the areas to be improved.

Don’t put it off! Request a free appointment now with our accounting experts and find out how to effectively manage the progress of your company.

Together with the ITL Accounting team, we provide accounting assistance to companies in Hungary, putting all our experience and professionalism into play in order to achieve the best business results.

For us, accounting assistance means managing the company accounts from a 360° perspective, as well as supporting entrepreneurs in the processing of annual tax returns and for any other requirements related to carrying out the necessities of a business.

We’ll draft a safe and transparent company roadmap based on your needs. International excellency represented by ITL Accounting meets outstanding Hungarian numeracy skills and professional expertise.

Meet our Head of Division

Anikó Molnár

ITL Accounting Division Head of Department

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