Financial Analysis as a Functional Subsystem of Financial Controlling

Today's economic situation requires enterprises to adapt to rapidly changing conditions and a strategic vision of development. In this regard, financial controlling is increasingly considered not only as a tool for controlling costs or budget execution, but as a systemic concept for strategic management of enterprise finances. The purpose of the article is to determine the role of financial analysis as one of the functional subsystems of financial controlling to improve the enterprise's strategic management effectiveness. The study results indicate the relationship between financial analysis and strategic financial controlling as key tools for managing the financial stability and development of the enterprise. This relationship is revealed through an assessment of the role of financial analysis at each stage of strategic financial controlling. For effective functioning of financial controlling, financial analysis must be systematic and cover all major aspects of activity; be based on reliable and up-to-date information; have a strategic focus, that is, be oriented not only to diagnostics, but also to the future; be integrated into management decision-making processes through regular reporting, strategic meetings, and budgeting. An analysis of the challenges associated with integrating analytics into strategic processes has been conducted, including: the human factor, IT infrastructure, and limitations of forecasting models. Approaches to increasing the efficiency of analytical support for controlling have been proposed, including the implementation of BI systems, automation of reporting, and developing an analytical culture in the company. The directions for the evolution of financial controlling tools in the context of the digitalization of management processes have been outlined. The article emphasizes the importance of adapting financial and analytical approaches to the needs of strategic management in the context of digitalization and the growing uncertainty of the business environment. The practical significance of the results lies in the possibility of their application for building an effective strategic controlling system in the context of constant changes in the external environment.