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News < Back Compliance : Sarbanes Oxley : Technology : Data Governance CFOs Look to Leverage Data to Drive Growth KPMG and CFO Research launch eight-week research series to investigate how finance executives should examine technology to get the right information at the right time
According to new market research conducted by KPMG LLP, the U.S. audit, tax and advisory firm, and CFO Research, finance executives are ready to shift gears. They are now ready to focus on business expansion, including growth and new services, and to do so will focus on strengthening their planning, information and analytics capabilities. This after spending much of the past decade ensuring compliance with financial reporting and corporate governance requirements, or cost reduction initiatives. “We are finding that CFOs want to empower their finance organization and their C-level peers to make better business decisions aligned with a broader enterprise strategy,” said Don Mailliard, Financial Management partner at KPMG. “Years of technology spending have yielded a continued struggle for insight, and now CFOs are looking for a different approach that will help them gain that insight and convert it to action. According to the KPMG and CFO Research series, Intelligent Finance Organizations, many CFOs are evaluating new performance tools, cloud technology, and consolidation of systems as part of their expanded enterprise strategy. In addition, almost three-quarters of respondents expect to continue the adoption of mobile devices in their organization over the next two years. However, many CFOs said they are challenged with quickly integrating their operations into these dynamic technology environments amid increasing security concerns. “Mobility is a game changer for many of these organizations as a viable alternative for their most critical information,” added Xena Ugrinsky, Enterprise Performance and Analytics partner at KPMG. “In order to achieve long-term success in this environment, CFOs and CIOs are modernizing existing information systems to allow knowledge to flow to new devices.” CFOs and CIOs Working More Closely to Leverage Data “It is not a surprise that CFOs are now seeing these technology enhancements as imperative,” said Stephen Chase, KPMG’s U.S. Technology Leader for Management Consulting. “Many organizations are realizing that subpar technology could be a considerable inhibitor to growth and business expansion.” As CFOs look to increase insight across the enterprise, their relationship with the CIO organization is now more important than ever. This partnership can help an organization adapt to the challenges of embracing new technology at a fast pace while maintaining shareholder value creation for the business. Findings Highlighted in Article Series and Webcast KPMG LLP, the audit, tax and advisory firm, is the U.S. member firm of KPMG International Cooperative (“KPMG International”). KPMG International’s member firms have 152,000 professionals, including more than 8,600 partners, in 156 countries. |
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