THE SIGNIFICANCE OF CONTROLLING IN ENTERPRISES IN EMERGING ECONOMIES

Globalisation and increasing competition affect all existing enterprises, as well as those in emerging economies. For this reason, enterprises continuously improve their own management systems and try to gain a competitive advantage in the market in addition to eliminating shortcomings. In emerging economies in Central Europe, including Slovakia, there are still not well-established tools to support management decisions that could reveal reserves, identify deviations from the required state and reflect all these attributes in the system of motivation, evaluation, and remuneration of employees. Controlling is such a tool, the implementation of which is a prerequisite for growth in performance and market value of the enterprise. The aim of the paper is to identify and present the optimal software support for controlling for the given segment of enterprises based on the mapping of the current state of using Business Intelligence to support controlling in micro and small enterprises (MSEs) in the conditions of the specific emerging economy, namely Slovakia. This information system will allow MSEs to respond flexibly to market changes, offer alternative options to support managerial decisions and can simulate the impact of any change in the plan on business management. Within empirical research, a questionnaire was used as a method to survey the given problem in the business practice of micro and small enterprises in Slovakia. The questionnaire was sent to 2,415 MSEs, with the research sample consisting of 421 respondents, i.e. of 17.43%. The survey meets the condition of a minimum sample size. We focused on groups of micro and small enterprises, as these represent 99% of the country's market potential. While the introduction of the controlling module into the basic information systems of the company or Business Intelligence are investment-intensive for MSEs, as a real option, affordable software support for controlling based on the MS Excel programme was identified in practice. In view of the above, a prototype of a controlling information system called 'SOFIN-KA' was designed and successfully tested in the practice of the Slovak Republic in an MS Excel programme, which is customisable to each MSEs. Implications for Central European audience: For the success of micro and small enterprises (MSEs) in today's turbulent business environment, it is important to make better and faster decisions. However, MSEs in Central Europe, including Slovakia, currently do not often have sufficiently established tools to support management decisions. One of the ways to solve this problem is controlling. The proposed software support for controlling is applicable not only in Slovak MSEs but also in V4 countries. The software has been designed this way that it can always be adapted to the specific conditions of each company.