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Shorter Cycles, Increased Demands Influence How CFOs Meet New Objectives
Beginning of article
According to a recent survey of financial executives conducted by CFO Research Services and Comshare, Inc., 89% of finance executives surveyed said their CEO wants the finance function to provide analysis of business unit performance on demand, yet only 57% have the capability to do so. In addition to the CEO, regulators and shareholders are placing increased pressure on CFOs to deliver more information in less time. To comply, CFOs are modifying their approach to traditional management processes, and budgeting is often the first process transformed.
Historically, the typical budget cycle takes 12 months to complete, yet is often obsolete within six months. Together with shortened …
