A Controller Is More Than A Bean Counter

You’ve heard it. Bean counter. Number cruncher. Double entry deviants. Penny processors. You’ve probably even said them under your breath as you leave a budget meeting where the controller said your department was required to cut 5%.

Each label says a controller is only interested on the numbers end of the business – and ignoring the rest.

That may have been true twenty years ago, but not any longer.  Yes, a solid portion of our job is to ensure the numbers are accurate, follow audit guidelines and provide quality reporting tools.   We point out statistics that look out of sync from what were predicted and follow up with those departments not meeting expectations. We are in the game of reporting the here and now.

But…In today’s environment, a controller is constantly facing new demands and challenges, including market volatility, rising costs, social media influences, constant changing production technology – just to name a few. We are instrumental in planning the company’s future direction and supporting those tactical initiatives.

Another aspect controllers now focus on is the “what if” scenario not just “what is or what was”. Instead of concentrating on the past and history, we now look to changing the view to the future and how we can affect it. Instead of just optimizing current results, especially from an expense side, we now view controlling the future through strategic planning and innovation.

A savvy controller has to understand business risks – both financial and non-financial – and how to reduce those risks. We have to know strategy, not just to implement it but to create and direct it. A controller needs to be able to see the big picture. We must be able to make decisions. And finally, we must understand people and be an effective communicator.

Today’s controller is a partner to other senior management and their staff. We must work with and advice company leaders by providing the financial information needed to develop successful strategies, meaning we need to be able to communicate accounting and finance principals to non-accounting executives.   Being responsible for everyone’s transactions and bills requires the controller to not only be well read in other departments, but also be able to build relationships in order to effectively communicate with them.

Communication is key to success, but one other aspect is critical as a controller. We need to be able to sell. Yes, I said sell. If you think about it, we do it all the time. We just call it guiding or persuading or directing others to our viewpoint.   We sell ideas to the executive team. We help sell the vision and strategy of the company to the employees. We sell out bankers and investors on the wisdom of the using their capital. We sell vendors on giving us the best price.

We may be by nature reactive, but today’s controller has learned to be proactive and as a result, the companies we work for will continue to grow.