CFOs don't trust finance figures
Nearly three-quarters of chief financial officers have little confidence in financial figures presented to them, new research has found.
Link: CFOs play strategists and stewards
Research from performance management software specialist Cartesis found that only 27% of CFOs are very confident in the financial facts and figures presented to them.
Just 17% said they were very confident about the interpretation and analysis of this data. The survey of CFOs in 150 of the world’s largest organisations also found that 5% expressed a total lack of confidence in figures, and 10% in the analysis of the data.
Cartesis said the survey showed several areas needed to be optimised to support business performance management.
Some 67% of respondents cited ‘converting data into meaningful information’ and 59% named ‘speed of data flows’ as priorities to support immediate aims.