Monday, October 13, 2008

Technology in Finance

Posted by Mark Brousseau

Accounting is the top treasury function that is supported well by technology, according to Treasury & Risk’s annual financial leadership survey. Sixty-percent of the roughly 500 treasurers, controllers, CFOs and other senior financial executives who responded to the survey identified accounting as the area where technology is delivering positive results, followed by account reconciliation (50 percent), cash flow forecasting (34 percent), and business performance management (33 percent).

Conversely, 52 percent of those responding to the survey said cash flow forecasting was a function that needed better support by technology. Business performance management (47 percent), accounting (45 percent), account reconciliation (41 percent), and risk management (40 percent) were among the other functions where respondents thought technology could provide better support.

Overall, 53 percent of the financial leaders responding to the survey thought their company could do better when it came to encouraging innovation and independent thinking.

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