cfo indicator q4 2016 survey on corporate reporting efficiency
TRANSCRIPT
Piece by Piece:The Challenges in AssemblingCorporate Reports
Adaptive Insights surveyed more than 400 global CFOs to understand trends in finance for its CFO Indicator Q4 2016 report.
This survey explored the topic of reporting, specifically highlighting reporting process efficiencies, current and expected report volumes,
and existing shortcomings in reporting systems.
Results indicate an opportunity to automate non-value-added tasks so that finance has the time needed to deliver
actionable insights.
Adaptive Insights surveyed more than 400 global CFOs to understand trends in finance for its CFO Indicator Q4 2016 report.
This survey explored the topic of reporting, specifically highlighting reporting process efficiencies, current and expected report volumes, and existing shortcomings in reporting systems.
Results indicate an opportunity to automate non-value-added tasks so that finance has the time needed to deliver
actionable insights.
CFOs Identified Many Reporting Challenges
Source: CFO Indicator Q4 2016 report
No Improvement in Time Spent on Strategic TasksWhat percentage of your FP&A team’s time is spent on strategic tasks,
such as advanced modeling, business scenarios, etc.?
Source: CFO Indicators, Q2 & Q4 2016 reports
Rise in Report Volumes Expected
68% of CFOs expect a rise in report volumes.
Average 16% rise in report volumes expected by 2020
Source: CFO Indicator Q4 2016 report
Data Gathering Presents Greatest Opportunity for Process Improvement
What part of your reporting process could be most improved?
Verifying accuracy of data across groups
21%Ensuring consistency among various reports
19%20%Formatting for different audiences
Data gathering32%
9%Other
Source: CFO Indicator Q4 2016 report
Organizations Not Using Centralized Reporting Systems
Which process most closely describes how you/your team generate financial reports?
Export actuals and data from the ERP system into Excel/Word/PowerPoint
Export actuals and data from the ERP system
into a planning/reporting tool
Generate reports out of ERP Other
Source: CFO Indicator Q4 2016 report
Technology is the Biggest Opportunity to Improve Efficiency 60
% of CFOs identify data integration as the technology hurdle that most stands in the way of gaining actionable reporting information
Source: CFO Indicator Q4 2016 report
In centralizing data and automating non-value-added tasks, the office of finance can elevate the reporting function, providing top management
with the analysis needed to enable better decision-making.
In this way, reporting can move beyond what has long been the bane of the office of the CFO and fulfill its role as a
critical piece in the finance transformation puzzle.
For more insights, view the CFO Indicator Q4 2016 report
www.adaptiveinsights.com/piece-by-piece