Start the Year Strong:  5 Things to Ask Your Controller

Start the Year Strong: 5 Things to Ask Your Controller


Start the Year Strong: 5 Things to Ask Your Controller

By Paul Johnson

The start of the year is the perfect time to pull out the magnifying glass and take a look at your financials to support the goals your teams set into motion to boost productivity and scale company growth.

To be sure you’re lined up to make 2018 your most productive year yet, here’s five questions to ask your controller to make sure your financials are on track:


1. How many journal entries do you create during closings?

Too many journal entries can extend closing times and often means there are financial process problems under the surface which can lead to bigger audit problems later. They often are indicators of complexities in your processes and automation that could use some revising.

2. Is our company meeting the compliance of local jurisdictions?

You and your controller can look at your risk potential with current processes, and create a schedule for ongoing and regularly scheduled risk reviews. Focus on your policies, contracts sizes, and client subscriptions to be sure you’re meeting standards and adhering to compliance changes.

3. How long does it take us to close the books each period?

Closing times are a great measure for how efficiently your controller works. It pays to have a reviewing system in place to spot any potential errors, early and often. Try these tips:

  • Track manual entries, and measure accruals to help to identify potential productivity bottlenecks.
  • Automate as much as you can. You naturally execute your policies by automating them. Automation increases efficiency and reduces errors by eliminating manual entries and workarounds.
  • Use forecasts to your advantage. Get a sense of next quarter’s numbers, to more easily pick out errors, and give your controller a head’s up to take care of them before closing the books.


4. Is Excel still our go-to for closing? If so, why?

Excel is great for some ancillary reporting, sub-ledgers and unique expenses and revenues, but it comes with a price. Manual entries make it prone to errors that can have a cascading effect on your other data, it’s limited in its shareability, and it can present security issues.

If your controller is still heavily relying on Excel to close at period-end, it’s time to start looking into more efficient and innovative options.

5. Can our company integrate our operations metrics and financials?

By integrating processes, you streamline productivity, protect data integrity, unify teams to collaborate between finance and operations, and give your controller a clear view into company performance.

Meet with your controller to discuss strong integration software options like Sage Intacct to bring innovation, compliance and streamlining to your closings.

If you could use some more pointers on how to collaborate with your controller to streamline your closings and boost financials, reach out and give us a ring! We want to help make this your best year yet!

5 Strategies to Cure the Pains of Rapid Growth

5 Strategies to Cure the Pains of Rapid Growth


5 Strategies to Cure the Pains of Rapid Growth

By Paul Johnson

Rapid growth is a both a blessing and a curse for services companies. Company growth is exciting, but as a result, your teams are knee-deep in new tasks, a fair amount of chaos, and one too many headaches.

Here’s 5 powerful strategies your company can take to ease the pains of growth, and scale success.


#1: Automation Strategy – For Increasing Workloads

During rapid growth, teams often experience lots more work, and to quickly get from point A to point B, finance teams often turn to spreadsheets, data entry, and manual re-keying data into disconnected in-house systems.

Companies with heavy manual entry situations benefit the most from automation, to ensure accuracy and keep team workload capacities within reasonable volumes.

#2: Real-Time Visibility Strategy – For Project Profitability Insights

Companies that face growing complexities in their offerings, often face complexities in their metrics too.

Change happens fast, and finance teams that bring real-time visibility into their dashboards and metrics reporting can rest easy that they’re not missing a beat when it comes to fast-changing revenues and profits.

#3: Streamlining and Integration Strategy – For Disconnected or Isolated Internal Systems

Sometimes as companies scramble during fast growth, finance has a hard time syncing up with the company’s other isolated in-house software solutions.

As a result, teams re-key data manually in multiple systems, and departments remain disconnected. As companies grow their client base, it’s just as important to find solutions that streamline and integrate systems to keep data flowing seamlessly and accurately between teams.


#4: Automated Global Consolidation Strategy – For Globally Growing Companies

With multiple entities, currencies or locations, global consolidations add a significant burden of time, effort and resources to financial teams.

Companies going global, can initiate an automated global consolidation strategy with software that can run global consolidations with one click, to boost accuracy and save time.

#5: Open and Integrated Software Strategy – For Companies Seeking Scalability

None of us has a crystal ball, so how do you know which software will be the best for your company down the road?

Think open and integrative. Consider software that plays well with other software solutions, and has flexibility in an open, cloud-based design.

A best-in-class cloud financial management solution like Sage Intacct offers a high degree of customization and automation, real-time visibility with customizable dashboards, one-click global consolidations.

If your finance team is looking to boost their success strategies as the company moves through rapid growth, we can help!

Give us a call to find out how we can help you choose a better fitting system that will grow with your company for the long haul.