Four challenges of subsidiary management and how to deal with them
The business rise brings together the daily challenges of subsidiary management. Today we will talk about these challenges and how you can make the management of different subsidiaries of your company more effective.
Check below some tips to optimize the manager’s duty, reduce costs and ensures an effective control of your company, directly from the headquarters:
Follow the periodic
The first step to empower and optimize the subsidiary management is performance periodic monitoring of each subsidiary’s action. It does not need to be done in person, but the important is, through a remote system, managers know what is happening.
Keep in hands updated data used on expenses, billings and performance of the professionals. Seek for periodic meetings with the leadership teams, in loco or remotes. It is also important, however, from the business control to the team strengthen, this proximity between headquarter and subsidiary.
If different subsidiaries from the same business act uncoordinated, the control is much more complex. So, it is important to adopt a standard format of action, ranging from client attendance to small building maintenance. Charge the leadership that these attitudes become accomplished according to the company’s DNA. Aware your team about the importance of a same business, though in different places, act the same, to consolidate the company with one only action.
On Subsidiary management, it is necessary to have the team ready
Even when opening a new subsidiary or managing the ones already consolidated, it is fundamental the team is ready. In big companies, a good tactic is to do immersion events with the new employees, in company headquarter. In this meeting, it is important they meet the company mission, vision and values and be well-informed about everything relevant about the business, the market positioning to HR actions.
Constant trainings and information Exchange among different subsidiaries also help the standard maintenance of all the subsidiaries.
Unified system to control the activities
Control the activities, action and attending manners of different subsidiaries are the biggest challenges of directors and managers. As they are, generally, located in the headquarters, they need to count on an integrated system that allows the access in real time to what is happening in other places. A Shared Services Center (SSC) facilitates the change and management. It must, however, also be associated to an online platform to control and delegate tasks. This way is possible to measure also the investments, costs, and other fundamental details for an effective management of your company.
The Shared Services is the most appropriate to the subsidiary management. Through this platform, the director would align processes that will need electronic approval from the headquarter managers to be executed. Just so you will have full control and security, headquarter mature processes will be transferred and implanted in the subsidiaries without pain or investment.
Do you already have a SSC or wishes to implant one in your company? The Ellevo has the right platform to your business, get in touch for further information.