Although recent, the controller's importance in companies grows every day
With an increasingly competitive market, companies have relied on highly specialized professionals to form their teams. And that is valid for all areas. In accounting, for example, a sector that is responsible for a wide range of complex tasks, ranging from payroll, balance sheets and financial statements to tax matters, having trained and experienced personnel is very important.
And in this scenario arises the controller. As the name implies, this professional acts as a kind of controller of the accounting sector, overseeing the company’s accounting operations and planning and developing strategies to obtain better results. In their daily life, they deal with a large volume of data, and have to analyze it to make the best decisions. Therefore, they play a key role in the corporation.
Not only collecting and analyzing data, but the accounting controller also needs to make the reports easily understood by their superiors, the heads of other sectors and colleagues. After all, the results obtained through their analysis are important for the company’s future, especially regarding financial and budgetary issues. It is possible to make profit and loss projections, billing forecast, among other things.
The specifics of a controller’s duties may vary from company to company, but overall, they should have a solid understanding of a company’s accounting operations and job functions. Controllers are considered the experts in the accounting world; therefore, they must be equally capable of evaluating the effectiveness of accounting software and systems.
A controller’s role goes beyond accounting. In addition to overseeing entire accounting operations and offering their holistic view to colleagues in other sectors, they need to have knowledge of the tax and financial areas and may also be summoned to lend their experience in matters of corporate governance, investments or other areas, due to their strategic vision. Furthermore, they have to manage people and organize departments.
As a supervisor, the controller has a team of accountants working under him/her. On a daily basis, these professionals perform different but complementary functions. The accountant produces balance sheets and accounting reports, for example, while the controller interprets this data and applies it to the company’s daily activities.
Although recent, the controller’s importance in companies grows every day.
Here at Pryor Global, our back-office outsourcing sector has a team that is specialized and experienced in tax, accounting and labor matters and in the execution of financial services. Contact us and find out how we can help your company comply with complex Brazilian regulations.