Two thirds of FDs surveyed said data quality and consistency was the biggest business challenge they face when it comes to budgeting, forecasting and reporting.
The Talentia Software research comes at a time when the role of finance departments is evolving to that of a wider business partner with an active involvement in the fulfilment of larger corporate objectives.
The new survey also revealed some major changes in budgeting habits, with a shift towards either monthly budgets or a zero-based approach to forecasting. However annual budgeting remains a core component of corporate performance management (CPM) for many.
Julie Windsor, managing director at Talentia Software, said...