The Biggest Obstacles to Trustworthy Financial Data and How CFOs Overcome Them
Amid ongoing advances in technology and ever-increasing expectations that CFOs will take the lead in planning for the future of their organisations, C-level executives should believe they can rely on the accuracy of financial data to inform their organisations’ decisions.
But recent research reveals a lack of confidence among executives and finance teams in the numbers they are reporting. During this Webcast, we will consider the implications of BlackLine’s survey of more than 1,100 C-level executives and finance professionals in midsize and large organisations worldwide.
Among the survey’s most significant revelations is the discrepancy between C-level executives and finance professionals who have complete confidence they can identify errors to ensure their financial reporting is accurate. Seventy-one percent of respondents who are C-level executives conveyed their complete trust in their organisations’ financial data; for finance professionals, that percentage was 38%. Overall, nearly 70% of respondents believe their organisations have made important decisions based on inaccurate data.
But, as this Webcast will demonstrate, it is the responsibility of finance leaders to ensure their organisations can trust the numbers they report. This is one Webcast you will not want to miss if you aim to learn how CFOs can:
- Identify underlying causes of inaccurate data, such as human error, insufficient automation, and reliance on spreadsheets
- Establish a compelling business case to introduce automation, as well as streamline financial processes, to mitigate risks of misreporting and having to restate financials
- Create and sustain a culture of transparency and reliability in financial reporting