InsightSoftware.com Recommends CFOs Engage in 2013 IT Investment Planning
Mining Usable Business Intelligence is Critical Function for CFOs
DENVER, November 5, 2012 – While the official start of the calendar year may still be months away, many CFOs are already concerned about satisfying their organization’s IT needs in 2013. This is one reason why InsightSoftware.com, the developers of innovative tools that enable more efficient financial reporting, budgeting, reconciliation and administration from Oracle E-Business Suite and JD Edwards ERP solutions, is recommending CFOs get involved in 2013 IT investment planning today.
According to InsightSoftware.com, one of the top concerns for CFOs in 2013 is ensuring their c-level management team is making important business decisions based on accurate, real-time data. To achieve this, CFOs are increasingly interested in technologies that make available, in usable form, the vast quantities of data locked in complex ERP or financial systems.
Unfortunately, this desire for superior business intelligence can lead some organizations to make rash decisions. Said Phil Walton (TITLE) of InsightSoftware.com, “We often hear from CFOs who have been lured by IT fads such as KPIs and ‘dial and gauge’ dashboards, but end up being burned by the fact that the underlying data is inaccurate. However, CFOs have begun to recognize these shortfalls and in turn, are looking for software that can efficiently deliver accurate, real-time data transparency in 2013.”
These concerns about data accuracy are why InsightSoftware.com encourages CFOs to get involved in IT planning as early as possible. According to a recent joint study by Gartner, Inc., and Financial Executives Research Foundation (FERF), the research affiliate of Financial Executives International (FEI):
“CFO’s role in technology decision making has increased in the last year with 44 percent of CFOs stating that their influence over IT investment has increased since 2010, while 47 percent say that it has remained the same and just 9 percent of those surveyed believe that their influence has decreased.”
The same study also noted that:
“CFOs would most like to invest in business intelligence, analytics and performance management. CFOs clearly recognize the need for improved technology support for these key business processes and identified the top business process area that needs technology investment as the ability to facilitate analysis and decision making (57 percent) closely followed by collaboration and knowledge management (52 percent).”
“Many organizations have long been dependent on the data warehouse, which introduces risk and inaccuracy by storing the same data in more than one place,” said Phil Walton, Vice President, Sales, for InsightSoftware.com. “This can have disastrous consequences for an organization when the data being stored is decision critical and financial information that can significantly impact a company-wide decision.”
InsightSoftware.com provides hassle-free reporting solutions to Oracle EBS and JDE users. Their solutions help companies address changing business challenges and are installed in hours, providing an immediate ROI. With over 650 customers and 45,000 users, InsightSoftware.com solutions are enabling end users to deliver answers to business-critical questions in minutes. www.insightsoftware.com.
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