Finance and Control Systems

PLACON Perspective

The financial crisis of 2007–2008 caused the near-total collapse of many large financial institutions. World is still not completely out of its impact. This has resulted in financial market uncertainty. PLACON has observed that organizations are finding it difficult to create a way out of global economic recession, where governments have a role of protecting families, jobs and industry.

  • PLACON strongly feels that for global organizations, Finance becomes important in the context of huge investments, need for cost control, foreign exchange risk management, multi-country accounting & taxation laws and statutory compliances.
  • For service-oriented organizations and NGOs, Finance function has assumed greater significance, due to the issue of self-sustainability.
  • Emerging scenario calls for cost reduction campaigns, higher cost efficiency; and greater discipline in conduct of business operations. This will require existence of efficient financial planning & control systems; and supportive organization culture
  • With the increased integration of Finance function with strategic management of organizations; the challenge remains in taking quick financial decisions in rapidly changing global business/ investment environment.

PLACON Competency

PLACON has provided its expertise to governments, corporates, NGOs and international bodies. PLACON can effectively handle any consultancy, training, research and professional event designing & organizing in the area of Finance. PLACON has experience of handling various assignments in the organizational context viz., budgetary control system, accounting systems & manual, finance organization consultancy, costing and financial decision making. The nature of assignments executed by PLACON Team that involved Finance function is as follows. 

  • Feasibility studies including Financial Need Estimation
  • Manual of Accounting Systems, Procedures and Formats.
  • Providing Financial Management Strategy
  • Working Capital Management
  • Financial System Assessment and Review
  • Financial Research and Financial Status Surveys
  • Project Costing and Cost Estimation
  • Management Control Systems e.g. Performance Management System
  • Budget Preparation and Budgetary Control System

Download a detailed description of the Emerging Scenario, Challenges & Opportunities, PLACON Experience and an Illustrative Case Experience (pdf, 181kb)