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Designing a Budgetary Control Framework: The Case of a Multinational Mining Engineering Company

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Designing Cost Management Systems to Support Business Decision-Making

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Abstract

There has been an increase in the financial collapse of companies due to weak control systems. Budgeting is an activity that, if properly governed and controlled, could significantly enhance project cost management and enhance decision-making. Industry 4.0 (used interchangeably with the fourth industrial revolution) technologies can aid in solving this control and internal governance problem. This case study considers the design of a budgetary control framework for a multinational company using Industry 4.0 technologies that can aid in controlling and enforcing of budgeting systems across countries. The study found that the technologies of systems integration, cyber physical systems, cloud computing, and big data and big data analytics can be effectively combined to design a budgeting control framework to strengthen internal governance.

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Authors and Affiliations

  1. Management Cybernetics Research Entity, North-West University, Potchefstroom, South Africa

    Arnu van Wyk & Susanna L Middelberg

Authors
  1. Arnu van Wyk
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  2. Susanna L Middelberg
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Correspondence to Susanna L Middelberg .

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Editors and Affiliations

  1. Professor in the Accounting Sciences, North-West University, Potchefstroom, South Africa

    Pieter Buys

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van Wyk, A., Middelberg, S.L. (2021). Designing a Budgetary Control Framework: The Case of a Multinational Mining Engineering Company. In: Buys, P. (eds) Designing Cost Management Systems to Support Business Decision-Making . Palgrave Macmillan, Singapore. https://doi.org/10.1007/978-981-16-1751-5_3

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