This is the fourth report in the IMA? (Institute of Management Accountants) Rising to the Challenge research series, which was created to help accounting and finance leaders better understand business obstacles and the ways that companies are overcoming them to elevate the role of finance.

  • In 2012, IMA?s research study, ?Productivity in Accounting and Finance Organizations,? identified and explored the most critical challenges facing accounting and finance teams: streamlining processes and improving productivity.
  • In 2013, ?Achieving Real-Time Visibility across the Organization? focused on another problem area facing finance executives: improving the management reporting cycle and achieving real-time visibility across the organization.
  • The 2014 report, ?Evolving Role of the Controller.? focused on the changing roles and expectations of today?s financial professionals, specifically those of the financial controller.

Key Insights:
  • A 2013 study found that 68% of companies used spreadsheets to achieve integration among their various information systems. In this year?s study, that number is down to 32%.
  • Almost 40% of the CFOs said they were implementing, planning to implement, or considering moving their current financial systems to the cloud.?
  • CFOs with cloud-based ERP systems consistently indicated greater benefits than those with other ERP systems.
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