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57% of finance leaders missed opportunities due to delayed data
['Adam Zaki']
CFO.com - Latest News
The single source of truth debateMany of the finance leaders surveyed by Intuit said the biggest challenge starts with the quality and accessibility of business information.
The tech giant’s recent survey found midmarket companies are more challenged by these efforts, as 70% of finance leaders said they still lack a single source of truth for critical business data.
According to the survey, 80% of companies that reported strong revenue growth year-over-year have a single source of truth for critical business data.
Intuit's report also argues that a single source of truth allows finance leaders to respond more quickly to business questions because teams are no longer rebuilding analyses each time executives need updated information.
Manual work remains a growth constraintThe survey also found that finance organizations continue to devote much of their week to routine work instead of higher-value strategic activities.