Reducing critical skill gaps through training and recruiting professionals to increase skills in strategic thinking and execution, communication, financial planning and analysis, technology, and data governance.īy following these critical steps, controllers can feel empowered to navigate the changing environment, find a seat at the table, and take their career to the next level.Understanding the importance of new accounting standards and planning for their impact on the controllership role.Making “strategist” and/or “catalyst” part of one’s job description (official or not) by learning the organization’s business and knowing what drives value.Improving and leveraging skills in emerging technologies that are driving results, including robotics process automation, in-memory computing, mobile platforms, and visual analytics.Communicating clearly with top management why the controller is in the best position to assume more strategic responsibilities like financial planning and analysis (FP&A).Those in controllership and accounting roles can benefit themselves by being more of a strategic business partner in many different ways, including: But the challenge is maintaining a balance, especially when circumstances tip the scales to favor traditional tasks. Maintaining a balance between strategy and traditional responsibilitiesĮvery controllership role has a mix of strategy and traditional responsibilities. But they lack the support needed to complete tasks in a timely and effective way in order to take on more strategic roles. Their responsibilities continue to increase and evolve. They may have to navigate between suboptimal information systems, talent gaps or turnover issues, a lack of cross-functional support, a C-suite focused on other key areas or a combination of these and other hindrances. Today’s controllers are, generally, being asked to do too much with limited resources. Instead, they spend too much time focused on traditional roles-and not enough on evolving into a more strategic business partner. These types of requests often bombard the controllership function on a daily basis and prevent controllers from breaking out of the vicious cycle. For example, controllers may be asked to quantify quarterly spend on headcount, but they may be left out of executive meetings on organizational restructuring initiatives. As a result, decisions involving organizational strategy often exclude their input. Controllers in the United States spend nearly 70 percent of their time performing traditional tasks, such as closing the books or ensuring compliance with accounting standards.
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