As accounting technology advances, the composition of accounting teams also needs to change. From robotic process automation to hyperautomation to a continuous close process, technology within the controllership is becoming more advanced and will require skills and knowledge beyond traditional accounting expertise.
As more technology becomes embedded in the controllership, corporate controllers must rethink the talent composition of their teams. To that end, corporate controllers expect the percentage of legacy accountants on their teams to drop dramatically in the next five years, while accountants with technology skills will be in higher demand.
The controllership is central to aspirations to digitalize finance, and many controllers have
Expected changes to controllership team composition
By 2025, more than 40% of finance roles will be either new or significantly reshaped. By 2026, AI and automation will mean 50% of all new hires in top-performing corporate finance functions will have backgrounds outside finance or accounting. At the same time, the percentage of legacy accountants will diminish. On average, controllers expect to cut the number of legacy accountants on their team by 2028, from an average of 68% to 42% of the team.
Many controllers expect accountants with tech expertise to make up a greater portion of their future teams. Currently, about 12% of controllership employees have technology and accounting skills. Gartner research indicates that controllers hope to increase this percentage to 35% in the future, close to a threefold increase from current levels.
We can glimpse the future talent pool of controllership departments by reviewing actions taken now by the large accounting firms. Today, more than 30% of new hires of large accounting firms come from nonaccounting backgrounds (largely technologists). This proportion will continue to increase, and corporate finance and accounting functions will gradually follow suit.
Controllers are aiming to heighten digital and business-facing acumen within their functions to better meet emerging value generation objectives. Changing the composition of the controllership is a considerable investment, and controllers have set ambitious targets for themselves. However, without a concrete plan to achieve those goals and immediate action toward that plan, many will fall short of their objectives.
Digital competencies in the controllership are nonnegotiable
Controllers recognize that upgrading their existing accounting processes and technologies will be critical to driving transformative improvements and aligning with CFOs' robust digital investment plans. However, only one-quarter of controllers consider their employees very effective at the digital competencies that enable the use of those digital technologies.
Some 72% of controllers are not clear on the specific digital competencies their team needs — this is the main barrier to increasing their teams' digital proficiency. To improve the accounting function's efficiency as well as the speed and quality of insights it provides the rest of the organization, controllers are investing in digital technologies such as robotic process automation, artificial intelligence, machine learning and natural language processing. Yet, low digital proficiency with these technologies is a barrier to controllers' aspirations of achieving more efficient accounting processes.
Proficiency in these competencies does not just require the capability to know and understand digital technologies, as many controllers believe. It instead requires a combination of these digital technology capabilities along with core finance, data analysis and socio-creative capabilities (e.g., translating technological information for a nontechnical audience and brainstorming solutions to controller problems using technology).
Driving digital competency in the controllership requires a proactive approach
Forward-thinking controllers who have seen early successes in developing and retaining digital talent within their departments have communicated a few consistent themes to Gartner, which include:
- Understand and acquire new digital skill sets: Establish a baseline for ideal proficiency levels for each competency category and compare these against current proficiency levels. Identify the combined knowledge, skills and ability components within the team that are the greatest priority to develop to better use digital technologies. As budgets allow, opportunistically hire candidates who possess the competencies that are the hardest to develop and in short supply in the department.
- Hold managers accountable for coaching employees: Set the expectation that people managers in the controllership will continuously reinforce the top digital competencies and their underlying components with their direct reports. This advanced support includes updating employees' development plans and providing coaching on the top competencies.
- Be deliberate about developing digital competencies on the job: Help controllership staff identify opportunities to practice competencies, which means managers must present good opportunities to develop controllership talent's digital skills. Then, provide accounting managers with training and resources to help them support and coach their teams before, during and after on-the-job learning.
Controllers who succeed at bringing more technology talent into the function, as well as developing existing talent on the job, will be well-positioned to realize significant gains in speed, quality of decision-making, and efficiency.
