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Few senior financial executives are satisfied with their performance management capabilities—their ability to plan, budget, and forecast. A survey of senior financial executives at 245 organizations (most of them large, public U.S. companies), supplemented by 14 personal interviews, indicates that many firms continue to struggle with creating a finance function that can act as a true partner to the business units. Some have made meaningful progress toward this goal, however, by embracing state-of-the-art technology solutions and adopting best-practice processes and procedures. Our surveys and interviews indicate that many more companies are preparing to follow their lead.