What Is an Outsourced Controller?

An outsourced controller is typically an accountant’s expert or external finance staff member who handles the company’s accounting and financial control activities. Still, the controller is not a full-time, permanent staff member of the company. If a company wants experienced financial supervision but is not going to hire a senior accounting professional immediately, the company may resort to an outsourced controller.

A controller who is contracted externally can help set up the company’s accounting system, prepare the company’s financial statements, take care of closing books after the end of the month, and keep the company’s internal checks, as well as give top management accurate financial data.

What Do Outsourced Controller Services Include?

Outsourced controller services can be tailored to a company’s size, complexity, and accounting requirements. Common responsibilities include:

• Month-end close: Overseeing reconciliations, journal entries, and closing procedures.
• Financial reporting: Preparing accurate income statements, balance sheets, and cash-flow reports.
• Accounting oversight: Reviewing bookkeeping and accounting processes for accuracy and consistency.
• Internal controls: Establishing procedures that help safeguard financial information and reduce errors.
• Budgeting and forecasting: Supporting financial planning with reliable accounting data.
• Audit support: Organizing financial records and assisting with audit preparation.

When Should a Business Outsource a Controller?

Businesses may choose to outsource a controller when accounting operations become too complex for existing staff, financial reporting needs increase, or management requires stronger financial oversight. It can also be useful during periods of rapid growth, fundraising, acquisitions, or preparation for an audit.

Outsourced Controller vs. CFO

An outsourced financial controller usually concentrates on accounting correctness, financial statement preparation, internal control, and daily financial management. However, a CFO is more concerned with overall financial planning, budgeting, raising capital through various funding sources, and making strategic decisions for the business. Some companies may opt for both positions, as the need is.

Why Consider Controller Outsourcing?

Controller outsourcing gives businesses access to experienced financial professionals without necessarily taking on the cost and commitment of a full-time hire. Accounting controller services can also provide scalable support as accounting requirements evolve.

Working with outsourced financial controllers can help businesses strengthen financial processes, improve reporting accuracy, and gain better visibility into their financial performance.

Want Help With Your Finance and Accounting Operations?

Atidiv provides accounting, financial reporting, finance operations, and controller outsourcing support for growing businesses. Our experienced finance professionals can help strengthen accounting processes, improve reporting, and provide the financial oversight businesses need to make informed decisions.

Talk to an Atidiv expert to explore outsourced controller services tailored to your business.