How Controllers Are Revolutionizing the Finance World

Controllers play a vital role in finance, but their responsibilities are evolving. According to a recent survey by EY, 86% of financial controllers expect their roles to change dramatically in the next five years. Gone are the days when controllers were solely focused on getting numbers right and driving efficiency. Today, they are expected to be strategic partners, supporting business growth and value creation. Traditionally, controllers were seen as the right-hand person to the CFO, overseeing day-to-day accounting operations, implementing financial plans, and supervising accountants. However, as the finance organization becomes more strategic, controllers are being asked to be forward-looking, providing insights and influencing the future of the company. They are also leveraging technologies like AI and data analytics to drive decision-making. Edwine Alphonse, senior controller at Ramp, a fintech, emphasizes that controllers are in a unique position to see all financial transactions happening inside the company. They are responsible for more than just "keeping the lights on," but also finding the best suppliers, vendors, and technology systems to help the company scale and create a team that provides efficient insights. Not all controllers aspire to become CFOs, and some are content with their current role. A third of confident controllers, who are typically more tenured and experienced, say they want to stay in their position. They are focused on delivering high-quality performance and innovation, rather than seeking a promotion to CFO.