A Controller plays a vital role in the financial health of an organization. Often called the “chief accountant,” the Controller sits between the day-to-day bookkeeping and the high-level strategic work of a CFO. For many growing businesses, especially in industries like E-Commerce, Healthcare Practices, or Staffing & Recruiting, hiring a Controller is the natural next step once bookkeeping alone is not enough.
In this article, we’ll explore what a Controller does, why their role matters, how they differ from bookkeepers and CFOs, and when your business should consider adding Controller support.
What Is a Controller?
A Controller is responsible for managing the accuracy of a company’s financial records and ensuring strong internal controls. They are the bridge between bookkeeping and CFO advisory services, turning raw financial data into reliable reporting that drives smarter decisions.
📖 Further Reading: Investopedia – Controller Definition
Core Responsibilities of a Controller
Controllers are hands-on financial leaders. Their responsibilities include:
Financial Reporting – Producing accurate and timely income statements, balance sheets, and cash flow reports.
Internal Controls – Implementing processes to prevent fraud, errors, and compliance issues.
Budgeting & Forecasting – Building financial models and monitoring actual vs. projected performance.
Audit Preparation – Ensuring records and documentation are ready for external audits.
Team Management – Overseeing bookkeepers and accounting staff.
In many ways, the Controller is the guardian of financial accuracy within the organization.
How a Controller Differs From a Bookkeeper or CFO
It’s common for business owners to confuse these roles. Here’s the breakdown:
Bookkeeper: Records transactions, reconciles accounts, and manages day-to-day entries. See our Bookkeeping Services page for more details.
Controller: Ensures financial accuracy, produces reporting, and oversees accounting processes.
CFO: Provides strategic leadership, manages investor relations, and drives growth strategies. See our part-time CFO services.
Think of it this way:
The bookkeeper inputs the data.
The controller verifies and organizes the data.
The CFO interprets and uses the data for strategy.
When Does a Business Need a Controller?
Not every business needs a full-time Controller. However, certain situations make their expertise invaluable:
Rapid Growth
If your e-commerce company or SAAS startup is scaling quickly, a Controller ensures financial processes keep up.Complex Reporting Requirements
Businesses like healthcare practices or non-profits need precise reporting for compliance, grants, or industry regulations.Cash Flow Concerns
If you are struggling to understand why profits don’t equal cash in the bank, a Controller can diagnose and correct issues.Audit or Investor Readiness
A Controller ensures your books stand up to scrutiny, whether for bank financing or outside investment.
The Value of Outsourced or Fractional Controller Services
Hiring a full-time Controller can be costly, often exceeding six figures annually. For many small to mid-sized companies, outsourcing is the smarter option.
With Fractional Controller Services, you gain:
Cost Savings – Pay for expertise only when you need it.
Scalability – Adjust support as your business grows.
Expertise – Access proven professionals across multiple industries.
This approach works especially well for industries like marketing agencies or real estate firms that may not require a full-time Controller but still need oversight.
How Controllers Work With CFOs
A Controller and CFO form a powerful financial leadership team.
The Controller ensures that the numbers are accurate and reports are reliable.
The CFO uses that data to make strategic decisions on growth, capital, and risk.
For example, a Controller may prepare accurate forecasts while the CFO presents those forecasts to investors or board members.
📖 Further Reading: CFO.com – Controller Role
Industries That Benefit From Controllers
Controllers add significant value across multiple industries:
E-Commerce: Manage high transaction volumes and payment processor reconciliations.
Healthcare Practices: Track insurance reimbursements and compliance reporting.
Legal Services: Oversee trust accounting requirements.
Marketing Agencies: Improve visibility into campaign costs and profitability.
Non-Profits: Ensure proper fund accounting and donor reporting.
Professional Services: Maintain accurate client billing and project costs.
Real Estate: Oversee property income, expenses, and financing compliance.
SAAS: Track deferred revenue and subscription metrics.
Staffing & Recruiting: Handle payroll heavy operations and multi-location accounting.
Best Practices for Working With a Controller
To get the most out of a Controller, businesses should:
Define Clear Roles – Ensure responsibilities are distinct from bookkeepers and CFOs.
Invest in Technology – Use cloud-based accounting and reporting tools.
Encourage Collaboration – Foster communication between your Controller, CFO, and operations team.
Prioritize Internal Controls – Protect against fraud and maintain compliance.
Conclusion
A Controller provides the financial accuracy and structure that growing businesses need. Positioned between bookkeeping and CFO leadership, they ensure your company has reliable data to drive better decisions.
If your organization is ready to strengthen its financial foundation, consider exploring Controller Services with Next Level CFO.
📅 Schedule a free consultation today to learn how a fractional Controller can help your business grow with confidence.
