Harvard Business Review: Bad Data Is Sapping Your Team’s Productivity

“Fortunately, good-enough-to-get-started estimates can be obtained by the applying the “rule of 10”: it costs 10 times as much to complete a unit of work when the data is flawed in any way as it does when the data is good. In practice, this means that if data is good for 90% of your work, finishing the remaining 10% will cost more because of all the added friction.”

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CFO Journal: 3 Data Management Challenges—and 4 Ways to Respond

“It can be difficult for technology industry leaders to weather the many challenges of rising data volume, shifting regulations, higher costs, and increasing complexity. However, by focusing consistently on collaboration, flexibility, modernization, and automation, they may enhance operations and better anticipate and respond to regulatory requirements.”

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FP&A Trends: Why Should We Care About Data Governance and Data Literacy?

“To understand the importance of data governance, we need to understand the risks of poor data governance:

1. Poor data quality
2. Poor and wrong decision-making
3. Increased forecast risk
4. Increased percentage of unstructured data
5. Fractured data sources”

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CFO Insights: Revolutionizing Reporting in the Digital Age

“Real-time reporting will arrive when all aspects of the reporting process become automated and streamlined. The big barriers today are data quality and latency. Fortunately, the future of reporting holds real promise for companies that want to take advantage of it. Automation helps simplify and streamline data management because data used in reporting is no longer prepared for analysis manually. The software does that work.”

Read More at Deloitte >

CFO Journal: The Big Deal About Data in M&A

“In addition to leveraging intelligent tools, getting an early start and selecting an appropriate data management framework are also essential for increasing M&A transaction value in an environment where data is often an organization’s most valuable asset.”

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CFO Insights: Mastering Data for Better Insights—and Competitive Advantage

“In some industries, digital technologies have already reshaped certain aspects of how the finance function conducts business—lowering operating costs, effort, and risk while increasing the analytic value and transparency of financial data.”

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SF Magazine: An Internal Controls Mindset for Excel

“The same year, CNBC wrote that spreadsheet blunders are costing businesses billions. Consulting firm F1F9 estimated that 88% of all spreadsheets have errors and 50% of spreadsheets used by large corporations have material defects. An executive at the advisory firm The Hackett Group Inc. mentioned that the pandemic exposed the vulnerability of the finance teams’ decisions resulting from a continued dependence on Excel.”

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Harvard Business Review: Build Better Management Systems to Put Your Data to Work

“Most companies continue to struggle in managing their data and putting it to work. They expend a lot of time and energy, but don’t get much for their efforts. Quality is low, people don’t trust the data, technical debt is out-of-control, and they miss opportunities to become data-driven, take advantage of advanced analytics and AI, and compete with data.”

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CFO Magazine: Data Integration Drives Successful Mergers

“It’s far too easy for a deal to fail without a data integration game plan because of disparate data and disconnected systems. However, choosing the right approach to data integration depends on several variables, including available resources, timelines, and complexity, to name just a few.”

Read More at CFO Magazine >