CHICAGO, April 17, 2014 /PRNewswire/ -- As the CFO assumes more of a strategic role in many companies, the controller's responsibilities are also evolving and becoming even more critical. McGladrey's The controller's new challenge: Maintaining control in modern companies explains that, in addition to basic accounting, today's controllers must provide more data, insights and value to their organizations. Technology can be leveraged to solve problems within the organization and equip controllers with the necessary data and visibility to successfully fulfill emerging requirements.
Controllers must have a complete understanding of their accounting and financial systems to have confidence in the numbers and deliver accurate data. Modern enterprise resource planning (ERP) systems can help manage the controller's growing demands and provide the flexibility to adapt to evolving data requirements. A comprehensive, integrated ERP solution yields more accurate, actionable data and can scale to meet needs without significant additional investment.
Controllers' new challenges come from many directions, including an increasingly distributed workforce, changing business models, heightened reporting requirements and new responsibilities for the CFO. These and other factors are prompting many organizations to re-evaluate the traditional controller role. A centralized ERP system can help address the related difficulties controllers encounter while also reducing risk and encouraging growth. Learn more in McGladrey's The controller's new challenge: Maintaining control in modern companies.