The Challenges of Corporate Financial Reporting
- by Di Seghposs
Many
finance professionals face serious challenges in managing and reporting their
company’s financial data, despite recent investments in financial reporting
systems. Oracle and Accenture launched this research report to help finance professionals
better understand the state of corporate financial reporting today, and why
recent investments may have fallen short.
The study reveals a key central
issue: Organizations have been taking a piecemeal—rather than holistic—approach
to investing. Without a vision and
strategy that addresses process improvement, data integrity, and user adoption
software, investments alone will not meet the needs or expectations of most
organizations.
The research found that
the majority of finance teams in 12 countries—including the U.K., USA, France,
Germany, Russia, and Spain—have made substantial investments in corporate financial
management processes and systems over the last three years. However, many of these solutions, which were
expected to improve close, reporting, and filing processes, are ineffective,
resulting in a lack of visibility, quality, and confidence in financial data.
Download the full report.
