CFOs and CIOs face barriers to collecting, aggregating, and analyzing management information. The quality of management information drives a company's ability to respond to opportunities and threats.
Top-line findings in a recent research study by CFO Magazine and Deloitte concluded that most problems stemmed from disparate, non-integrated systems and processes.
Top 5 Symptoms ... Can you relate to these problems:
- Are you wrestling with poor information quality when making decisions?
- Do your finance and business users spend a lot of time developing special reports?
- Are you plagued with "multiple versions of the truth"?
- Are your decision makers buried in too much information, unable to derive useful insights?
- Is your Planning and budgeting information not realistic or is it outdated and has lost relevance relevance?
Achievers (those without the above symptoms) agreed ... Finance needs to take a leadership role and collaborate with IT to remedy information barriers
What they achieved:
- Better operating decisions faster.
- Improved annual planning decisions.
- Confidence in business process controls and reporting.
- Improved decisions on strategic direction
- Savings by reducing time users spend reworking information.
- Reduce cost of complying with regulation and mitigate enterprise risk.
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