Research Study Report Now Available: The Digital Controller/CFO
Chicago, IL—October 10, 2022—The second annual benchmark research study was recently completed, and the results are now published in a report titled “The Digital Controller/CFO Study – 2022,” available from the Controllers Council. The study identifies how the responsibilities of Controllers, CFOs and related finance executives continue to evolve and include management of both corporate finance and accounting (F&A) technology, along with taking leadership in many aspects of corporate technology.
The 2022 Digital Controller/CFO Study is based on a recent national survey of nearly 300 respondents across North America, representing a wide range of organization types and sizes. Here are just a few of the key takeaways from the study:
- 69% of Controllers/CFOs say their responsibilities for Corporate Technology are increasing with 92% managing F&A technology, 61% managing all technology budgeting/spending approval; while 46% participate in IT and 28% supervise IT.
- Regarding the use of automation, the study identified a dichotomy of almost half of Controllers and CFOs as “Automation Early Adopters,” with 19% using automation for finance and accounting and 27% planning to use; and 50% “Automation Laggards” not using automation currently, with no plans to do so in the future.
- Controllers/CFOs continue to drive Digital Transformation with almost 70% participating in Finance & Accounting (F&A) Digital Transformation, and 58% supervising it; while 35% are also participating in Corporate-wide Digital Transformation and 14% are supervising it.
“The second edition of the Digital Controller/CFO Study reinforces that rapid technology adoption continues with corporate finance executives managing sustained hybrid work environments, staff shortages, challenging economics and geo-political risk,” states Neil Brown, Controllers Council Executive Director. “The insights from this important research study will assist all C-Suite executives in navigating and succeeding in these turbulent times.”
“The study reinforces how critical it is for CFOs, Controllers and their teams to quickly access and rely on complete and accurate financial information,” commented Omar Choucair, CFO of Trintech. “The higher expectations – and opportunities – for leaders of finance and accounting teams have never been greater. We believe digital automation adoption results in significant gains as teams continue to streamline and automate the finance back-office to reduce repetitive and manual tasks while participating in, managing, and often leading digital transformation initiatives within their organizations.”
To view or download the 2022 Digital Controller/CFO Study Report, click here.
To view the 2022 Digital Controller/CFO Study – Webcast Panel discussion video archive, click here.
The Digital Controller/CFO Study was sponsored by Trintech (see more information below).
ABOUT Controllers Council
Controllers Council™ is a national member association, community and platform for Controllers, CFOs, and corporate accounting and finance professionals focused on career development and training, peer interaction, recognition and more. Programs include CPE training, a national Career Center, professional certification, webcasts with expert panelists on trending topics, research studies, articles and whitepapers, the Controllers Council Seal of Approval, and the annual Controller of the Year Awards. For more information, visit www.ControllersCouncil.org, or call Executive Director Neil Brown at 312-869-2180.
Trintech provides cloud-based software solutions that standardize and automate key processes in the financial close including, high volume transaction matching, balance sheet reconciliations, intercompany accounting, journal entries, close management tasks, disclosure reporting and governance, risk and compliance.
Over 3,500 clients worldwide – including the majority of the Fortune 100 – rely on Trintech’s solutions to continuously improve the efficiency, reliability, and strategic insights of their financial operations. For more information, visit www.Trintech.com.