Flipping the TMT financial controller switch from transactional to strategic

As roles evolve across the technology, media and telecommunications (TMT) industry, finance controllers are getting their moment in the spotlight.

In brief

• The role of financial controllers is shifting from transactional to strategic, with innovation and value creation at its core.
• To thrive in this new era, controllers must develop diverse skills and leverage digital tools to achieve value creation.
• With a proactive approach to innovation and a commitment to continuous learning, financial controllers are positioned to become strategic visionaries, integral to shaping the future of business.

Aseismic shift is shaking up the role of financial controllers across industries, and the technology, media and entertainment and telecommunications (TMT) sectors are leading the charge in innovation. 

Controllers in the TMT industry face unique challenges, including rapid technological advancements, stringent regulatory pressures, and a surge in mergers, acquisitions and divestitures. These transformations demand a reevaluation of the controllership function, pushing it toward innovation and strategic engagement.

According to a recent Ernst & Young LLP (EY) survey of financial controllers, the future of finance lies in innovative thinking, value creation and data visualization.

We’ve gathered the following key insights shaping the future for TMT controllers.

Investing in a data-driven future

Emerging technologies are revolutionizing financial management. Process automation, cutting-edge software, and advanced data visualization tools are enabling controllers to deliver insights with unprecedented speed and precision.

To keep pace, 67% of U.S. TMT organizations are prioritizing investment in data analytics and reporting skills for their financial controllers.

Preparing for innovation

As controllers evolve into strategic leaders, they are tasked with optimizing value and driving growth. Strategic innovation demands broader skills including strategic thinking, personal branding, and coaching.  Nearly half (47%) of respondents believe activities like mentoring and team building will become routine parts of their role.

Embracing emerging technologies

Generative AI (GenAI) technology holds transformative potential for the finance function in the TMT market, but leveraging it effectively requires targeted talent strategies, including recruitment, reskilling and upskilling.

Notably, 43% of U.S. TMT financial controllers are calling for more training in AI and data-driven insights, signaling both recognition of AI’s power and awareness of workforce readiness challenges.

The rapid rise of AI-focused startups highlights the urgency for financial professionals, particularly controllers, to adapt quickly to new technologies and regulatory changes.  While optimistic about AI’s potential to revolutionize their work, controllers acknowledge the need for continuous learning to fully harness its capabilities.

Process automation, advanced software, and data visualization tools are already driving efficiencies and enabling better decision-making. To stay competitive, organizations are prioritizing skill development in areas like data governance, analytics, and reporting — upskilling current talent and hiring experts to ensure finance teams are prepared to support business objectives in an increasingly data-driven world.

Shaping the future

As the role of the CFO is expands, financial controllers are increasingly called upon to identify revenue opportunities and champion business growth. The modern controller must go beyond technical expertise, spending more time focused on:

• Business acumen
• Strategic thinking
• Coaching and mentoring
• Personal branding

This evolution opens the door for controllers to collaborate with leaders across the organization, crafting and executing strategies that drive innovation and position companies for sustained success.

Stats roundup