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Finance Executives on the Value of Technology Investment for Midsize Companies

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The recession caused midsize companies to intensify their focus on cash, profitability, processes, and risk. As economies start to recover, finance executives at many of these companies are now shifting attention from strict cost control to active performance management. Finance executives widely recognize the value of technology investment to support management in guiding their companies and business units forward, as it provides "the most reliable and best return on our investment dollars," according to one finance executive interviewed. However, midsize companies in particular must deal with a "technology gap" as they reexamine their information needs and capabilities, relying more than larger companies on manual processes and spreadsheets. Executives interviewed say that finance needs to work closely with management, end users, and IT alike to provide companywide education on the capabilities and use of new technology.