how is your time spent
TRANSCRIPT
86% say they want to spend more time on planning, analysis, and decision support
19%Only 19% of finance teams manage to spend the majority of their time on analysis
1/5 of their dayis spent just searching for and gathering information needed to complete tasks
Professionals say nearly
Nearly 41% of professionals say management can't access the data they need when they need it
How is your time spent?
20% to 40% of all spreadsheets contain errors—and nearly 90% of all spreadsheets with more than 150 rowscontain errors
57% of professionals believe that cloud-based financial management systems will replace on-premise systems
57%
75%
81% say they have to combine data from multiple spreadsheets
Globally, 93% of financemanagers say they are burdenedby too many spreadsheets
CFOs say they want their businesses to haveconstant access to:
75% of professionals say it would be useful to make real-time connections to company data from within a spreadsheet
Sales and pipeline data
Month-endfinancial results
Status reports
Planning/forecastingbudget results 58%
58%
60%
62%
58% of senior managers have accidentally sent the wrong person sensitive information
! ?
20%
72%72% of finance professionals said their most important spreadsheets are shared with others
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“Mobility as Finance’s New Imperative.” (2013). KPMG. Retrieved from http://www.kpmg.com/US/en/cfo-research/Documents/mobility-finances-new-imperative.pdf
“Intelligent Finance Organizations: Insight into Empowering Finance and the Enterprise.” (2013). KPMG. Retrieved from http://www.kpmg.com/US/en/IssuesAndInsights/ArticlesPublications/Documents/intelligent-finance-organizations-summary.pdf
"Spreadsheets in Today's Enterprise." (2013). Ventana Research. Retrieved from http://ww2.ventanaresearch.com/SS212012_SS21BRESRegistration.html
“Shaping the Finance Function of Tomorrow.” (2013). CFO Research. Retrieved from http://www.cfo.com/research/index.cfm/register?action=researchreg&whitepaper_id=14703644
"CFOs on Managing Finance Technology." (2012). CFO Research. Retrieved from http://www.cfo.com/whitepapers/index.cfm/displaywhitepaper/14664307
Panko, R. “What we know about spreadsheet errors.” (2008) Journal of End User Computing. Retrieved from http://panko.shidler.hawaii.edu/SSR/Mypapers/whatknow.htm
"Spreadsheets in Today's Enterprise." (2013). Ventana Research. Retrieved from http://ww2.ventanaresearch.com/SS212012_SS21BRESRegistration.html
"Spreadsheets in Today's Enterprise." (2013). Ventana Research. Retrieved from http://ww2.ventanaresearch.com/SS212012_SS21BRESRegistration.html
"Spreadsheets in Today's Enterprise." (2013). Ventana Research. Retrieved from http://ww2.ventanaresearch.com/SS212012_SS21BRESRegistration.html
"Accelerating EPM Deployment With Planning in the Cloud." (2013). Oracle. Retrieved from http://www.oracle-downloads.com/oraclepbcs.pdf
"Global Risk Management Survey: Eighth Edition." (2013). Deloitte LLP. Retrieved from http://www.deloitte.com/assets/Dcom-UnitedStates/Local%20Assets/Documents/us_fsi_aers_global_risk_management_survey_8thed_072913.pdf
Chui, M., Manyika, J., Bughin, J., Dobbs, R., Roxburgh, C., Sarrazin, H., Sands, G., Westergren, M. (2012). “The Social Economy: Unlocking Value and Productivity Through Social Technologies.” McKinsey & Company. Retrieved from http://www.mckinsey.com/insights/high_tech_telecoms_internet/the_social_economy
On average, users spend Twelve hours per month, adding up to
18 full workdaysper year synthesizing spreadsheets they collaborate on with others
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