Five key findings about the work of F&A teams in their quest to become data driven
HFS Research in partnership with EXL surveyed 200 finance and accounting leaders worldwide and across industries to address how these organizations are changing to use data as a strategic asset.
In addition to the overall findings, the research revealed results specific to the BFS sector. We offer five key findings about the objectives and challenges in adapting data automation within the BFS sector.
Key insights:
The top ranking for F&A teams in this sector was enhancing the stakeholder experience
Real-time data availability for decision making was the top driver for data management and analytics
BFS companies are using automation for data integrity but also to allow their F&A professionals to focus on higher value tasks
A lack of in-house F&A talent was the biggest challenge to executing better data management and analytics
Governance concerns and risk management in executing automation were also among the top challenges
Download our infographic to know more about these trends
Did you know that 1 in 4 finance leaders prioritize becoming a strategic advisor to the business rather than being seen as just a cost center, being data-driven is the only way to get there
Read the full report with more insights - Behind every successful enterprise is data-driven finance - HFS & EXL joint data-led study (exlservice.com)