Modern vs. old-school controller

I recently had a fun and insightful conversation with Rohit Lalwani, Financial Controller at Bluecore, about the difference between a modern and old-school controller, how his audit background has helped him in his current role, and what the remote working environment currently looks like for Bluecore.?

Let’s get into it.

Listen to the full episode here ?

Key takeaways

We need to empower our teams

Rohit stressed the importance of empowering our teams . As leaders, identifying time-consuming processes and encouraging our teams to brainstorm improvements can be a game-changer. This approach not only streamlines operations, but also gives team members more control over their roles. Empowerment is a strategy for fostering innovation and efficiency. By recognizing and tackling pain points collectively, teams can become more agile and adaptive to change.

“One of the best pieces of advice that I ever got from somebody was you have no idea what someone can do until you actually give them the opportunity. And whether they're first, second year, or 10 years, and not only that, you have to give them the time to do it too, if they don't have the proper time to do it… The whole process of what was done in the past just needs to be completely torn up and I think you need automation and tools to help you out with that.”

The modern vs. old-school controller

The role of the controller has undergone a significant transformation in recent years. Rohit highlights the need for open conversations about what this evolution means within organizations and how we can “update” the roles in our organizations. The modern controller is not just a number cruncher, but a strategic partner in guiding financial decisions.

Understanding and embracing this shift is crucial for both aspiring and seasoned financial professionals. It's not just about adhering to traditional responsibilities but actively contributing to the strategic vision of an organization.

“I'll be honest, I think the opinion of controllers is, well, control the books, don't ask me for advice on what's going on, I will just give you the data, you interpret the data and take it however you want to. I will tell you this: I think every year there's more things added to a controller's role that you'll see out there. And the expectations, for example, purchasing. Purchasing now has become a big critical piece of can you control this function as well? Treasury has been added. So I think it's an ongoing role.”?

Know when to automate

Change is inevitable, and automation can be a powerful ally. However, Rohit reminds us of the delicate balance: Waiting too long might result in being overwhelmed by complexity, but jumping in too early might be a bit premature. Knowing when to automate involves a deep understanding of the organization's complexity and the readiness of its processes for automation. It's a strategic decision that should align with the pace of change and the unique needs of the business.

“I think if you can find a way to connect this to I'm trying to help the business and I'm trying to help you operationally, and if you're sensitive to that, I think they're more willing to listen, especially if you can find some type of solution that consolidates everything they're doing, that they didn't have to do. Again, we use a procurement tool where everybody was pushing back on it initially because we were using something like Google Sheets and different things to do this, and we've fully onboarded this now and it's just become a way of life at the company.”

Learn how to talk to your CAO/CFO

In the dynamic financial landscape, effective communication with top executives is essential. Rohit emphasizes the importance of being confident in our knowledge of business needs as well as how to provide insights to leadership so they can make thoughtful decisions. This confidence provides an "in" for conversations with our CAOs and CFOs.

Being transparent about investment opportunities and offering suggestions positions financial leaders as trusted advisors. It's not just about reporting numbers; it's about actively contributing to the decision-making process at the highest levels of the business.

“I think a lot of CFOs are instantly programmed to say, ‘Hey, not right now.’ Or maybe not this, but I think if you're so close to your CFO, which you probably should be, if you're working in the function under it, sell them on that and say, ‘look, this is what I know we have in our budget. I'm going to use this tool for that.’ Instead of, ‘Hey, I like this tool. What do you think?’ ‘Well, not interested right now. We'll look at it later.’ But when you approach them, approach it proactively, like you're another business function leader in marketing, you're another business function leader in sales. We need this tool and this is the reason why.”?

Be sure to listen to the full episode of my conversation with Rohit

About the author:?

Em Daigle is the VP and General Manager of Zuora Revenue. As a former revenue accountant turned tech executive, Em has always been fascinated by the intersection of accounting and technology. Her mission is to empower every corporate accounting team with the latest technology that enables completeness, accuracy, and real-time revenue visibility, while getting accountants out of “Ex-Hell” and allowing them to focus on analytics and business partnering.

Follow Em on LinkedIn for insights that help accounting leaders evolve their career, modernize their teams and become more influential partners to the business.