In this episode of Controllers Classified, Brex’s CAO Erik Zhou dives deep into the evolution of accounting and finance with guest Ron Cook, the VP/Controller at Lightcast. Ron shares invaluable insights from his illustrious 30-year career on the past, present, and future states of accounting, on-the-job anecdotes (ever migrated ERPs in the middle of a pandemic?), and lessons learned along the way (“Leadership is an art. It’s not a science.”).

Erik and Ron also explore the transformative impact of remote work culture on the accounting profession, delving into its challenges, benefits, and opportunities. The conversation pivots to AI and automation as Ron sheds light on where he thinks AI can have the most accounting impact — and what he thinks AI cannot do. He also shares his top skill for managing people and the one line on a job candidate’s resume that still stands out today.

Key Quotes:

“A long time ago someone told me that you're born with two ears and one mouth, [so] you should listen twice as much as you should talk. So I always listen to people, try to get to what they're seeing, read their body language, understand what they're doing, and just be compassionate. And I think that goes a long way in leadership.”

“I think what people don't like is if you tell them this is what you have to do. When you're working on a big-scale ERP or a big project and you have months or years to go, giving people the option to be involved or how to be involved, I think people respect that. You've taken the time to talk to them, to say, ‘Hey, what is your opinion here?’”

“Does [AI] do 80 or 90% of the work for you and help you be efficient? Yes. But does it require you to sit down and look and make sure that [the outputs are] all 100% accurate? I also say yes. So I think [AI success happens] in combination with a person with a brain that can look at it and say, this makes sense or not.”

“I think integrity is something that will follow you the rest of your life. I think that not only in the accounting profession, but in life in general. Integrity and being honest and being open upfront will open a lot of doors and will make you successful.”

“In any company, people [are] your best resource, and you need to learn to take care of people as the world adapts.”

Time stamps: 

[01:35] Intro/Journey to Success

[4:39] How Ron went from analog accounting to the digital world of accounting today

[17:10] When to use AI and understanding its limitations for accounting

[23:45 ] Advice and tips during large scale ERP implementations 

[31:03] Ron's craziest accounting debacle

Links:

• Visit Lightcast
• Connect with Ron
• Connect with Erik
• Check out Brex