CFO Research Services: Equipping Finance Leaders for Success
Length: 12 pages
Format: PDF (218 kb)
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Investment in information gathering and technology transforms finance
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ABOUT THIS REPORT
In the past several years, many companies have invested heavily in technology systems for storing, analyzing, and reporting performance data--and the results of this study show that many of these investments have paid off handsomely. Nevertheless, there are significant gaps in companiesí performance management capabilities--gaps in companiesí ability to assess the external economic and market context in which they operate, gaps in their ability to understand their own operating information, gaps in their ability to understand the risks that threaten them, and gaps in their ability to respond meaningfully to changing business conditions. In this research program, we gained significant insight into the ways companies have filled these gaps through a combination of rigorous information gathering, structured risk review, and aggressive investment in IT.