AXA's controlling and reporting mechanism

Extract

[...] In determining the number of support functions required for this activity and the economic cost of the activity, the management audit has shown that outsourcing allowed a reduction of only 15% of costs associated with that activity, and not to divide by three as it was said initially. The Controller also works with the business. Moreover, he accompanies them on their action plans and achieving their goals by making it operational, does re-forecasting, identification of improvement levers and engages in forward vision. [...]

[...] Reform Project Management System to improve efficiency and develop new products. The management of life insurance is 30 years old; this does not facilitate the development of new products. For a product manufactured by three months of competition, that product is developed in one year with AXA which represents a loss of market for the group. Hence, the idea of reforming the management system. In conclusion, we can say that AXA strategy, structure, management control and reporting are well articulated. The [...]

[...] The choice of quarterly reporting of overhead is due to the stability of overhead. In fact, they undergo very little change during the year. However, the management controller makes a weekly report of sales to be able to react quickly on a possible drop in sales. AXA France is characterized by the existence of a strong culture of financial goal. A premium on personal goal has been established and each employee is evaluated on budget. The management controller also uses a dashboard whose frequency and format vary depending on the nature of costs and recipients. [...]