Beyond the Close: How Modern Finance Leaders Drive Business Impact
by The Ottimate Editorial Team
Controllers and finance leaders have always played an important role in a business’s success. They’re responsible for translating financial data into business insights that inform strategic decision-making.
But in today’s world, the role is more than crunching numbers. Modern finance leaders must build relationships, communicate clearly across functions, and adapt as technology and the role continue to evolve.
Emily Phillips, SVP of Finance and Controller at Peak Dental Services, knows this reality well. In a recent Controllers Council Interview Series webinar, she shared her perspective on the tools, mindset, and experiences that have shaped her career, as well as why now is the time for organizations to rethink how they view accounting and corporate finance.
In this post, we’ll share some of the top takeaways from this conversation.
Relationship-building is key to success
The phrase “corporate finance” might conjure up images of numbers and spreadsheets. Technical expertise is certainly an important part of the job; that will never change. But Phillips credits another major driver of her success: her ability to build relationships across the organization.
Throughout her career, Phillips has prioritized cross-functional collaboration and communication. She’s built a reputation for connecting with colleagues across different teams, adapting her approach to a range of personalities and perspectives. That ability has been critical to building trust and alignment across the business.
Another key to Phillips’ success is her strong ability to recruit, maintain, mentor, and lead teams. “It’s allowed me to progress from one opportunity to another,” she explained.
Relationship-building isn’t merely a soft skill. It’s a core capability for any successful finance professional.
The right tools can increase effectiveness
Technology can make all the difference for finance teams. For Phillips, cloud-based platforms have been a game-changer. From enabling remote work to improving team productivity, these platforms have helped her team operate more efficiently and effectively.
Phillips pointed to several examples, including corporate credit card and spend management platforms, as well as close management tools that help streamline month-end processes.
AP automation has been particularly impactful. By reducing manual work, platforms like Ottimate allow finance teams to focus less on processing and more time on higher-value activities.
While AI is changing finance, humans are still essential
AI is rapidly evolving, and its impact on finance and accounting is undeniable. Some may fear that AI will replace humans. But in reality, it’s empowering them.
AI is reshaping the manual side of accounting. Tasks like data entry and repetitive processing can be automated, which frees up teams to focus on more strategic work. However, Phillips emphasized that the core of financial leadership can’t be automated.
Analysis, interpretation, and communication still require human judgment. Controllers are responsible for translating financial data into insights that leaders across the business can understand and act on. That’s something AI alone can’t fully replicate.
The real impact of AI is on how finance teams spend their time. By reducing manual work, finance leaders can focus more on people, strategy, and the future of the business rather than simply reporting on the past.
It’s time to rethink finance
All too often, accounting is seen as overhead. But Phillips encourages businesses to rethink their perception.
“Accounting isn’t overhead,” she explained. “We’re the foundation of a business.”
A strong understanding of accounting and finance is important for any organization. The more leaders understand the financial side of the business, the better equipped they are to make informed decisions that drive the business forward.
The future of accounting is more human than ever
Phillips is well aware that fewer people are entering the accounting field. Yet, she emphasized that now is a great time to pursue a career in finance.
Phillips encourages both current and aspiring professionals to focus on the relationship side of the business. That means going beyond the technical aspects of the business to translate insights, build relationships, and support the people who rely on financial data to run the business.
When financial professionals focus only on the numbers, they risk being seen as overhead. When they focus on the people using those numbers, they become essential to moving the business forward.