CFOs see greater need for accurate, timely data, but may do it on the cheap

They want to boost finance's analytic, modeling, and forecasting capabilities while maximizing tech's ROI, says Hackett

By , CFOworld |  Big Data, Analytics, finance

The Hackett Group's research also recommends that companies be prepared to adapt their business models and priorities in response to economic changes in regional global markets. This will require companies to understand the benefits from adopting global standards and organizational models that let companies leverage "skill and scale." In addition, the increased volatility in demand across global regions makes it critical for companies to truly understand regional operations, while still gaining advantages from a global platforms.

The research shows globalization continuing to accelerate in 2012 and beyond, both for finance and for other business service areas. "If their current plans are successful, companies will more than triple the level of globalization in business functions within the next two to three years," Hackett says. "The finance areas with the most aggressive plans for globalization are those which are the least globalized today...." One exampled cited is process design, in which globalization is expected to increase by more than 70%.

The full study can be downloaded from Hackett here, but only with registration.


Originally published on CFOworld |  Click here to read the original story.
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