Episode 05
OpenAI’s controller on how AI can transform accounting
Episode summary
On this episode of Controllers Classified, Brex’s CAO Erik Zhou is joined by Sowmya Ranganathan, OpenAI’s Controller. The conversation begins with a discussion on Sowmya’s career and her diverse experiences as an auditor and as a finance leader at both public and private tech companies, including Square and Rippling prior to OpenAI. Specifically, she highlights some of her insights for accounting during periods of business hypergrowth (i.e. when OpenAI launched ChatGPT) and the increasing need for technical savviness even as a finance professional (ex: Sowmya learned SQL as a way to manage the processing and analysis of a large data set of transactions at Square). She concludes her career overview with this advice: accounting leaders need to consider where their processes would break down if they were to grow quickly and focus their time and effort on making sure those processes are as scalable and automated as possible (hint: it requires building relationships with engineering).
Sowmya and Erik then deep dive into the need for a tech-first approach to accounting that embraces AI to find efficiencies in the financial close process. Sowmya outlines how she thinks AI may evolve the job of accountants and the future skill sets that will be required as a result. She also spends some time considering audit implications and considerations as teams embed emerging technology into their workflows and systems. This episode is a must-listen for finance and tech enthusiasts.
Finally, the episode closes with Sowmya’s bookkeeping fiasco at a previous company!
Show notes
Joining OpenAI at the perfect moment [01:30]
Navigating different accounting worlds [03:46]
Navigating hypergrowth [14:40]
Using AI to create accounting efficiency [22:35]
Incorporating AI into financial tools & systems [33:20]
Sowmya's bookkeeping fiasco [42:03]
Guest bio
Sowmya Ranganathan, Controller, Open AI
As the Controller at OpenAI, Sowmya leads the accounting function of a world-class research organization that aims to ensure that artificial intelligence is aligned with humanity's values and can benefit all of society. She has over 14 years of experience in financial analysis, accounting, and auditing, with a proven track record of building scalable processes, ensuring compliance, and delivering accurate and timely financial reporting. She has a Bachelor of Mathematics with a Finance option and a Master of Accounting degree from the University of Waterloo, and she is a Certified Public Accountant (California) and a Chartered Professional Accountant (Ontario).
“I'm excited because I hope that [AI] will be the thing that makes all the manual and routine work of accounting go away and really free up [our] time to engage with the rest of the business. Maybe close as we know it goes away.”
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