FinanceTháng Giêng 17, 2023

Future of data in the finance function: FSN’s survey

This FSN research report explores the importance of finance data, sharing common roadblocks and best practices to improve data health.

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.

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