Over the past few years, one theme has come up time and again in conversations with Financial Controllers working in SMEs – the role has changed significantly.
It’s no longer just about producing accurate numbers.
Today’s Financial Controllers are not just reporting on performance, but helping the business understand it and decide what comes next.
And yet, despite how pivotal the role has become, many people in these positions have relatively few opportunities to discuss the realities of the role with others who truly understand it.
The Financial Controller role goes beyond reporting
At its foundation, the Financial Controller role has always been about control, accuracy and compliance. That still matters, and it always will.
But, increasingly, the expectation goes beyond reporting what has happened… Financial Controllers are now expected to interpret performance, explain what it means – and help shape what happens next.
In many SMEs, this means being drawn into conversations that sit well outside traditional finance boundaries – contributing to strategic decisions, improving systems and processes and supporting leadership teams with commercial insight.
The role has moved from producing information to actively influencing outcomes.
A pivotal role in growing SMEs
In a larger organisation, there are often layers within a finance function – responsibility is shared, and there are clear lines between roles.
In SMEs, it tends to look very different.
The Financial Controller often becomes the central point of accountability for finance. And as there isn’t always a wider structure to lean on, the role naturally expands to fill the gaps.
You’re the person people turn to when they want a clear picture, when something doesn’t quite add up. When a decision needs grounding in numbers.
That position carries influence, but it also carries weight. You’re expected to have a clear view of the financial landscape, to spot risks early, and to provide reassurance when it matters most.
The hidden challenge: Working without trusted peers
One of the less visible aspects of this role is how isolating it can feel.
In most SMEs, there isn’t usually another Financial Controller sitting alongside you. There’s no immediate peer within the business who truly understands the nuances of your role, or the decisions you’re making.
So, naturally, a lot of thinking happens internally.
You weigh up options on your own.
You sense-check decisions in your head.
You carry challenges without always having somewhere to share them openly.
Over time, that can create a quiet pressure – not because the role is unmanageable, but because it lacks the space for shared perspective.
When expectations continue to grow
As the role has evolved, opportunities for professional discussion, shared learning and external perspective haven’t always kept pace
Many Financial Controllers have built their careers through experience. They’ve developed strong technical skills, a deep understanding of their business, and a reputation for reliability and consistency.
But the modern FC role now demands more than just a high level of technical expertise.
It requires leadership.
It requires communication.
It requires confidence in situations where there isn’t always going to be a clear answer.
These are skills that continue to develop throughout a finance career, often through experience and exposure to different perspectives.
Without access to others facing similar challenges, development can become reactive – shaped by immediate needs, rather than intentional growth.
Why perspective matters
There’s something valuable about hearing how someone else has approached a situation you’re currently facing.
Not in a theoretical sense, but often in a practical, real-life way.
How did they handle it?
What worked?
What didn’t?
What would they do differently now?
That kind of discussion and knowledge brings context. It adds depth to decision-making. And often, it provides reassurance that the challenges you’re facing are not unusual.
Without that perspective, even experienced professionals can find themselves second-guessing decisions or carrying uncertainty for longer than they need to.
No one should lead finance in isolation
The Financial Controller role is more visible, more influential and more demanding than ever.
But capability doesn’t remove the need for support.
And responsibility doesn’t mean you should have to navigate everything alone.
Creating space for reflection, conversation and shared learning isn’t a luxury in this role – it’s increasingly becoming a necessity.
It’s one of the reasons that we’ve been thinking so much about how experienced finance professionals can create more opportunities to share ideas, challenge thinking and learn from one another.
That’s exactly why we’ve created The Finance Forum – a peer-led community for Financial Controllers and senior finance professionals working in local SMEs.
