Integrating the Finance organization for global business: Important implications for CIOs
In the rapidly changing global marketplace, where companies have the freedom to choose how and where business gets done, CFOs are under increasing pressure to help achieve profitable growth. To succeed, the Finance organization has to be extremely agile, adapting to ever-changing corporate priorities - and aggressively capturing and transforming data into unique insights - while delivering earnings reliability and precision forecasting. The Global CFO Study 2008, conducted by IBM in cooperation with The Wharton School at the University of Pennsylvania and the Economist Intelligence Unit, examined CFOs' current priorities and the obstacles they face in helping the business succeed as a global enterprise. The study found a majority of CFOs looking to help their companies take advantage of the enormous opportunities made possible by the global economy but feeling unable to do so. Their Finance organizations simply lack the flexibility and enterprise wide integration necessary to mobilize information and resources quickly enough.