Where are finance execs on the road to technology-led transformation? A recent survey of 157 senior finance executives, conducted by CFO Research, shows they know they need it, but are far from achieving success.
- While 82% of survey respondents believe leading-edge technology is essential to finance function transformation, a full 63% describe their finance function’s technology as “inefficient,” “silo-constrained,” or “not linked to decision-making.”
- Only 14% say their finance functions are “optimized” technologically – capable of supporting data-driven decisions and high performance.
- Only 12% of respondents “strongly agree” their current technology is flexible and agile enough to support business-strategy and business-model changes over the next 2 years.
According to CFO, while the road to finance transformation can be long and winding, genuine data-driven decision-making that drives enterprise-wide innovation is worth the difficulty of the journey.
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