Financial Controller Leadership in the Digital Era

Strengthen finance internal controls, increase efficiencies and support automation.

Leadership Vision for Controllers

The Gartner Corporate Controller Leadership Vision 2022 eBook outlines three key issues that will affect controllers and their teams in 2022, as well as actions they should take to hyperautomate finance processes, redistribute middle- and back-office work, and increase the digital proficiency of talent in the controllership.

Download our eBook to explore the key actions for controllers heading into 2022: 

  • Invest in process mining software to discover, monitor and improve processes.
  • Optimize RPA governance by redesigning the workforce.
  • Upskill talent for digital by identifying and creating opportunities to learn on the job.

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    Critical Responsibilities of the Corporate Controller

    How can financial controllers adapt to new ways of working?

    Traditional financial statements and models are no longer sufficient for modern organizations; in a post-COVID-19 world, teams are fragmented and require full flexibility. To contribute to business success, financial controllers must harness digital technology and support automation in a way that maximizes efficiencies across accounting and operations and effectively prepares their organizations for the future.

    How can Financial Controllers adapt to new ways of working?

    Traditional financial statements and models are no longer sufficient for modern organizations; in a post-COVID world, teams are fragmented and require full flexibility. To contribute to business success, Financial Controllers must harness digital technology and support automation in a way that maximizes efficiencies across accounting and operations and effectively prepares their organizations for the future.

    How can you be a more effective financial controller?

    Finance leaders need to ensure their teams are equipped with modern-day skills and knowledge, as well as updated tools and methodologies. By building stronger and more effective teams and engaging in finance transformation, financial controllers are able to deliver faster, better results in the future workplace.
    Finance Digital Skills Gap

    Insights you can use

    A financial controller is vital to an organization — especially in times of crisis or economic downturn — as they help to maintain business goals, strategic direction and commercial viability. Gartner is at the forefront of modern workforce challenges. Our methodologies, tools and expert knowledge drive innovation and improve fiscal performance.

    Management Reporting Playbook

    Reporting can range from basic calendar-based financial reporting through to integrated on-demand reporting. This growing range of financial reporting can dramatically influence the ability to make critical decisions in a timely manner. But while accounting leaders feel that financial reporting is highly accurate, it often fails to provide stakeholders with the insights required to make better business decisions. That’s why ensuring your enterprise is “decision ready” is critical.

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    Design a lean, high-performing finance team

    Organizational restructures are aimed at reducing costs and improving productivity. But when it comes to accounting, what are the best financial models? Every enterprise is unique; our research shows what structures and roles drive positive outcomes.

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    Prepare Finance for Digitalization

    Finance digitalization entails the integration of multiple technologies and strategies that enable the finance function to deliver value in the digital age. Identify proven practices to prepare for a digital world and implement digital technologies across accounting processes, including financial data integration, digital-ready ERP and advanced analytic forecasting.

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    How Gartner helps Financial Controllers

    Research

    Hallmarks of Winning Finance Transformations

    Why do financial transformations fail? Often the answer lies in conflicting advice and an expectation that strategic direction can come from the outside. The reality is that successful financial transformations start from within. Gartner research details the pitfalls.

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    Research

    How to Do More — With Less

    Finance leaders are constantly under pressure to deliver improved outcomes with fewer resources. The right shared services approach can help financial controllers better meet business demands and amplify commercial results.

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    Research

    Prepare Your Automated Workplace of Tomorrow

    Robotic process automation is a trend that will have an exponential impact on accounting. Financial controllers who wish to thrive in the future must develop expert knowledge in this field — including how to embed the technology within an organization.

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    Financial Controller Case Studies

    We had a $15 million contract with a software vendor, with the terms and conditions that changed every six months. The contract covered everybody in the company, and an audit could cost $3 million to $10 million. The Gartner analyst’s guidance helped us avoid $3 million annually, and $9 million over the next three years.
    Energy Provider
    Case Study

    Modernizing the Finance Processes and Function

    Discover how Gartner for Finance helped the CFO of Jaycar Electronics, Australia’s leading electronics retail company, modernize the company’s finance processes and team as a part of their three-year finance strategy.
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    Gartner CFO & Finance Executive Conference

    Join the most important gathering for CFOs to explore potential finance tech providers and get actionable insights for how you can prioritize technology investments.

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    Finance controller: Frequently asked questions

    The financial controller is responsible for managing all finance and accounting operations of an organization. As an executive role, they’re responsible for developing or having oversight on the development of:

    • Financial strategy, including risk minimization and opportunity forecasting
    • Managing financial reporting, analysis and accounting operations
    • Cost reductions and efficiencies across the organization
    • Tax statements and payments across the organization
    • Compliance with statutory law and financial regulations
    • Investment advice

    Financial controllers oversee all finance-related decision making, financial processes development, investment opportunities and management, stakeholder liaisons and various other accounting and finance-based responsibilities. They play a critical role in identifying opportunities to improve efficiencies across the finance operations of the business. This includes cost-efficiencies and talent management, as well as important technological upgrades and implementations to automate financial functions.

    In addition, effective financial controllers need to be able to clearly communicate their findings and analytical data back to executives in a visualized way, to secure their support or sponsorship on major initiatives that have the potential to increase organizational revenue or output.

    There are several ways a great financial controller can add value to their organization. Like any executive role, one of your key strengths should be stakeholder management, along with the ability to manage down as well as manage up to the executives in the boardroom. Value-adds can also include:

    • Talent management: Finding the right people to fill the skills gaps or knowledge shortages on your team
    • Data analysis and insights: Understanding and communicating data trends and discovery to key stakeholders clearly and effectively
    • Digitalization and automation of data: Understanding and embracing technology in data analytics and implementing higher quality data technology

    To be an effective financial controller, you must first and foremost be an established accountant or financial professional. Key skills to help you succeed in this type of role include:

    • Strategic planning abilities
    • Data analysis and communication
    • Process improvement and optimization
    • People management
    • Technology advancements and implementation

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