RSM survey spotlights controller’s time management challenges
Ad hoc demands, disparate data, many masters
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If you feel you’re being pulled in too many directions, you might just be a private equity fund controller. Time management challenges for private equity controllers offers insights into the competing pressures these professionals face, and strategies they should consider to address them.
In a recent survey, 40 private equity fund controllers shared their insights into how they spend their time – and the various pressures competing for their attention. Respondents reported the following as the most significant drivers of their time-management challenges:
- Responding to ad hoc reporting requests from managing partners and limited partners.
- Performing and documenting portfolio valuations
- Data required to complete tasks stored in too many different systems or databases, or is stored offline
- Lack of effective software to address private equity accounting and tax reporting
- Deal structures, including blocker entities, are becoming more complex
- Key data is not passed from the deal team to the finance team on a timely basis
- Managing auditor and tax preparer requests at year-end
- Turnover in the accounting and finance function and lack of procedures to compensate for understaffing
Time management challenges for private equity controllers also explores how corporate performance management (CPM) can help private equity controllers prioritize and balance their most important concerns.