What is a Controller, and Does My Business Need One?

Your finances are the lifeblood of your business, and someone must manage them. As a leader of your business, you need to focus on aspects of your company beyond the day-to-day management of finances, which becomes increasingly complex as your business grows.

That’s where the Controller comes in.

What is a Financial Controller?

A Financial Controller (or Comptroller) is a senior-level executive. They act as the head of accounting, working closely with your CFO to prepare financial reports, streamline operations, audit internal controls and navigate major business milestones.

What exactly does a Controller do?

  • They help you navigate major purchases, investments and business milestones, as well as the day-to-day management of your company’s finances.
  • They streamline your business operations to reduce costs and maximize profitability.
  • They regularly perform Compliance Audits, reviewing your business’ adherence to shifting regulatory guidelines.
  • They work with your CFO to coordinate your business’ finances and operations, preparing your company for the future. This is known as the BPF process – Budgeting, Planning and Forecasting.
  • They analyze your financial data and keep your business up-to-date with the latest financial-management technology.
  • They look for tax credits and other opportunities to reduce your tax burden.

What value do they bring?

  • Maximum profitability through streamlined operations and cost-saving opportunities.
  • Stronger internal controls for a more secure financial house.
  • More freedom. When you are not focused on day-to-day finance, you are free to concentrate on other aspects of your business.
  • Fewer roadblocks. They help you avoid the fines and penalties that come from missed deadlines, miscalculated payroll and neglected bills.
  • A plan for the future. They strategize with your CFO to align your operations and your finances with your plan for tomorrow.

At what point does my business need a Controller?

If your business is growing, if you are planning for the future, if you are preparing for a major investment or looking to maximize your profitability, it is time to work with a Controller. However, hiring an in-house Controller is expensive, and most small to mid-sized businesses just can’t afford the cost.

At Klein Hall, we created a solution for your business.

Klein Hall Controllership Services offer a comprehensive Controller solution without the cost and uncertainty of an in-house employee. Our expert Controllers work with your business to perform a full range of Controllership services, backed by a trusted organization of financial leaders.

Click here to learn more about Klein Hall Controllership Services.