An experienced driver can provide considerable benefits for a company, but often comes with a high salary range. If your company needs the financial guidance and support of a controller, but also needs to save money, a part-time controller is your answer. Hiring a first-time outsourced controller or CFO can be difficult to navigate if you’re not sure what to look for in a controller. Read on for the best tips for hiring a part-time driver.

Understand the role of a controller

It’s important to understand exactly what a controller can offer your business. When employed in a full-time role, a controller often heads a company’s accounting or finance departments. Both accounts payable and accounts receivable fall under its jurisdiction. If your company has a CFO, the controller reports directly to him.

When looking for a driver, freelance or full-time, there are certain credentials you must have. Limit your search to controllers with a degree in areas such as accounting, business administration, or finance. They must also have certification as a Certified Public Accountant or Certified Master Accountant. If your company needs an experienced financial advisor, look for professionals with ten or more years of experience. The level of responsibility the controller will have in your organization can help determine how much experience is needed for the position.

How does a controller contribute to the business?

A controller takes on many responsibilities in an organization within the finance and accounting departments. From financial planning and reporting to administrative tasks and financial management, the responsibilities of a controller will depend on the needs of your business. Common roles and functions include the following.

• management responsibilities: If you haven’t had a controller or CFO in the past, a part-time controller can help you establish policies and procedures for your accounting team. A controller may select accounting software, establish financial benchmarks for the organization, and manage control systems. These management duties can set your team up for success, even when the outsourced controller isn’t working.
• Financial reports– A controller can manage financial statements and reports, including annual updates, reconciliations, budgets, and more. They can provide detailed reports to a board, executives, and investors. The controller can reportedly provide valuable information about the health and future of your organization.
• company transactions: Accounts payable and accounts receivable report to controller, and payroll also falls within their duties. If you haven’t had a controller in the past, your part-time controller can set up and maintain your company’s general ledger and filing system.
• Compliance needs: If your company is publicly traded, you must complete filings with the Securities Exchange Commission (SEC). A controller can submit these reports and ensure compliance on behalf of their organization or CFO. During the audit process, the controller manages the documentation.

Tips for Hiring a Freelance Controller

If you’re looking to save money without sacrificing experience, hire a freelance or part-time driver. You only pay for services when they are needed instead of committing to a full-time salary. Independent controllers also tend to have considerable experience in all industries and business types, from startups to large organizations.

Set clear expectations

The specific role and responsibilities of a part-time controller will depend on the needs of your organization. Small businesses and startups often cannot afford the full-time services of a CFO, so a controller takes on that role. If a CFO is currently on staff, a controller can help manage the direction of the accounting department.

Before looking for a controller, determine the needs of your business. If your team consists of experienced accounting staff members, you need a controller that can fit right in with your existing team. If your team is relatively small or inexperienced, a controller may need to assume a leadership position.

decide on a budget

Outsourced controllers can work on a project or hourly basis. When looking for a part-time driver, consider your budget and scope of work. These factors can help you narrow down your search considerably and provide relevant information to potential candidates. If you’re hiring a driver for a specific project, an experienced driver can help you estimate the hours needed to complete the job.

Seek relevant experience

Limit your search to controllers who have worked with companies within your industry. Industry experience means they are familiar with the policies and procedures required to run your business. They can also offer guidance for your finances based on the current state of the industry.

Your controller should also have experience with companies similar in size and structure to yours. This experience will help them fit perfectly into your organization and better understand your needs. Financial best practices, benchmarks and reporting will also be specific to the size of your company, and previous experience ensures the controller is up to date when he joins your team.

Align the software experience

If your business already has preferred accounting software, you should hire a controller who is an expert in that software. Hiring based on this criteria can save time and money when it comes to training someone on your software and getting them up to speed. Autonomous drivers can also provide valuable guidance on best practices for software and how to maximize your efforts with the resources you already have.

Consider company dynamics

Your independent controller may not spend every day with your team, but it’s important that they work well with your staff. Someone who fits with your team can save time by avoiding unnecessary friction or miscommunication. When interviewing controllers, it can be beneficial to introduce them to your team or ask your team for their opinion on various candidates.

Trust a recruitment service

Professional driver agencies can provide top-notch driver services that meet your business needs. With multiple experienced controllers on staff, agencies are likely to have consultants who already know their industry and work with similar companies. An agency, like K-38 Consulting, can meet your business needs with the right independent controller.