FinanceJanuary 17, 2023
Future of data in the finance function: FSN’s survey
We are at the height of the technology age. Artificial intelligence has elevated every genre of tech. Machine learning is mainstream. Predictive analytics is the rule, not the exception.
But, as we all know, you have nothing if you don’t have data health. FSN’s “Future of Data in the Finance Function” survey shows that many finance teams have material symptoms attributable to ailing data practices.
- 44% of finance professionals lose a day or more to data downtime every month.
- 75% of finance functions contend with material accounting errors every single month.
- The cost of idle time amounts to £600,000 minimum for a mid-sized global accounting team.
Before finance can turn an eye to AI or machine learning wellness, they must establish a baseline of data health.
In this report, FSN dives into what’s plaguing the data vitality of modern finance teams — and we chime in with how CCH Tagetik can be the antidote to finance’s data ills.
Related Insights
-
ArticleFinanceOctober 20, 2023SAP BPC roadmap: Modernizing your CPM technology for the digital ageBuilding a clear roadmap for SAP BPC replacement is essential. But what capabilities should you look for in your next CPM solution?
-
ArticleFinanceTax & AccountingOctober 20, 2023How BEPS Pillar Two will impact your financial consolidation processIn this article, we’ll explain how close and consolidation must change to accommodate Pillar Two’s new requirements.
-
ArticleFinanceOctober 18, 2023Checklist: Top capabilities to look for in your next CPM solutionUse this checklist to learn the key CPM capabilities you need to drive growth and agility for years to come.
-
ArticleFinanceOctober 16, 2023Boost Finance productivity with unified Performance Management: BARC studyUnify your performance management to make it fit for current and future requirements. Read the full study and learn more about BARC's five key findings and recommendations.
