The path to business transformation lies in the digital space. An ongoing and neverending evolution of processes, practices, and technologies, transformation combines a cultural shift with a technological one to streamline and facilitate decisions. “But,” you may be wondering, “what does this have to do with the controller?” A lot more than you think.
Forward-Looking and Tech Savvy: The Contemporary Controller
Compare your role to the role of the controller five years ago and you’ll see a lot of new words used to define the former. Strategic, tech-savvy, operationally minded, and connected were words you didn’t see a lot when defining a controller. Five years ago, compliance focused, backward-looking, and analytical were much more common.
Technology has revolutionized the corporate finance department. No longer do you have to be buried in spreadsheets to come up with numbers. Put this in context—a few short years ago, 78% of CFOs considered proficiency in Excel as the most important skill for their teams, but only 5% feel the same today: A mere 7% of CFOs list Excel as important for new hires.
Why Should You Run a Transformation Initiative?
Technology is empowering controllers to get more out of their days and their data. But should you be the one leading the charge? Why not?
As a controller, you are the person who connects the end users with the executives. You oversee the numbers while contributing to the strategy, and according to Deloitte, apps, automation, and digital disruption have “everything” to do with the future of finance.
“The needs of the business are growing. The pace of innovation is accelerating. [Finance pros] can either plan for change, or plan to retire,” according to its Predictions report.
January 21 Webinar: Controllers Guide to Being a Digital Transformation Champion
COVID-19 has accelerated the pace of digital transformation globally. The trend is being seen in the finance and A/R world as well, with almost 80% executives across industries looking to fast track their digital strategy in the aftermath of this crisis.
For finance controllers, this is the perfect opportunity to evolve from being the historian of the company, to being the bridge between compliance and strategic leadership. Our experts will deep dive into strategies to manage workforce and leadership expectations, promote a culture of continuous improvement and deploy the right technology for the finance department, as we move into 2021. Click here to register now.
Additional Resources
Five Steps to Leading a Real Finance Transformation
Ten Tech Trends Set to Change the World of Corporate Finance (Part 1)
