FSN's Innovation in Financial Reporting Global Survey 2018 finds CFOs are struggling to cope with data variety

5th August 2018

 

FSN’s Innovation in Financial Reporting Survey 2018 covers responses from than 616 senior finance professionals worldwide. Getting bogged down in data management is a stark reality for most senior finance executives who need more and more information to both tactically and strategically manage their business. Changing business information requirements are the biggest driving force behind the growth in data volumes, with 79% of survey respondents feeling this pressure.

65% of CFOs said financial data volumes were being driven by the pursuit of new insights which have become essential to win customers in the cut-throat world of business. Organisations that coasted along producing just the most basic requisite financial reporting are finding that the minimum of effort is no longer enough. 

For 59% of CFOs, the regulatory burden is adding to data volume growth as compliance requirements grow, while some 49% have also found data volumes elevated after mergers and acquisitions.

 

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The research was conducted amongst the 51,000 members of the FSN Modern Finance Forum on Linkedin and represents one of the largest and most authoritative global surveys of its kind.

616 senior finance professionals responded to the survey covering 23 countries and 13 industry sectors.  Approximately half of the respondents were from organisations with more than 1,000 employees and a quater with more than 10,000 employees. 

The research was sponsored by BOARD InternationalCertent, FinancialForce 

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