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"If you ever become a marketer, then your friend in the company should be the
accountant"
These were the words of advise given to me by my Marketing professor at Red McCombs
School of Business in University of Texas, Austin. I recall this statement every time I think
of costs involved in new product development or in every marketing endeavor I undertake.
The above words also applies to all persons leading an Innovation projects: Be it new
product development, process improvement or research.
In the world of innovation, accountants & their contribution are one of the least
appreciated. A success/failure of an innovation project is credited to the project manager or
product manager or the development manager, but rarely the name of finance
controller/accountant are even mentioned - sad but true.
The reason for this apathy is really simple: Engineers or product managers or development
managers are far disconnected from the world of finance & accounting departments, that
they really have no clue about the actual numbers. The problem is more acute in large
companies, where functions and roles are so widely distributed that the
development/product manager has no clue as where the accountant works! Added to the
organizational complexity, there is a natural tendency among engineers to focus on the
product - rather than monitor the expense accounts. Many engineers also find it extremely
challenging to read an account books.
Accounting is a very important function
The role of the accountant is to maintain records of all expenses, keep financial checks and
balances within the organization. All the great innovation ideas and projects can vanish in
