Controllership services are mid-level accounting functions and finance-related tasks performed by a controller. Depending on the size of your business or the complexity of your accounting, a controller can be the head of your accounting department or report to a CFO, which plays a more strategic role when it comes to finance and management.
In many instances, a business has a full-time bookkeeper on staff and relies on them for month-end reporting and more complex accounting activities. By having a bookkeeper handle the higher-level functions it can result in a lack of expertise and inaccurate financial information. As a company starts to grow, it is important to have a clear financial picture and up-to-date information to make better business decisions based on accurate numbers.
At Plumb, we work with businesses to provide an outsourced accounting option based on their specific needs. We can enhance an existing accounting department by offering an outsourced or part-time solution. For example, businesses will continue to keep their full-time bookkeeper on staff and a Plumb controller can come in on a weekly or semi-weekly basis to handle the month-end and industry-specific reports and analysis. In contrast, some businesses have a CFO on staff who is performing controllership services. This results in underutilizing their CFO’s expertise and overpaying for their work. This is when a Plumb controller can step in on an outsourced basis to provide the financial reporting to the in-house CFO in order to maximize their role in the company.
If you’re not sure if your business is ready for a controller, take a look at how Plumb utilizes controllership services within their outsourced accounting model.
Since 1996, Plumb has been providing outsourced accounting solutions to businesses looking for the best way to optimize their finance department. Based on the experience of working with hundreds of companies in various industries and revenue sizes, Plumb developed a customized 7-Step Process to deliver measurable results. With each step there are phase objectives and key deliverables, mostly handled by the controller-level role. The process sets a great foundation for establishing the success of the company with their accounting goals.