In my opinion it’s a rather good product for IAS consolidation. It includes all the required steps (transforming to common currency, intercompany operations exclusion, calculating equity shares). All this is controlled by nice GUI with parameters for changing and a tree representing current consolidation status.
Yet it does no more!
Wikipedia points out that Russian financial institutes have to provide IAS reports as well as companies looking for IPO (a popular trend these days). So Controller was first regarded as a magic tool for transforming Russian Accounting Reports to IAS. And this mistake was made not only by consultants, but also by potential customers. That created a small hype around it but it all quieted without any real projects. The task of RAS -> IAS transformation should be based on methodology consulting and realized in accounting systems (by enlarging current GL with IAS specific accounts, or by creating a parallel IAS GL) or even in Excel (as most companies do).
Controller is a niche product, and it’s time for Russian market will come soon after our accounting will completely merge with IAS.