CIMA unearths finance problems
Half of companies quizzed in recent research by CIMA, have revealed 'major' deficiencies in the finance function, particularly with integrating information from different IT systems.
Conflicting major challenges are being experienced by the 52 organisations who took part in the study, and as a result the institute has launched a Strategic Enterprise Management (SEM) roundtable to make recommendations on the resulting issues.
CIMA chief executive, Charles Tilley, said: ‘Inefficiencies in the finance function are creating work. Finance professionals are having to learn to think like outsiders to exploit the capability of the technology. Its potential lies in its ability to free finance professionals from the drudgery of monthly corporate reporting.’
Leading businesses and CIMA will continue to compare and contrast issues of the next year before delivering their conclusions.