9 in 10 CFOs making decisions on inaccurate data - research
New research from Pigment has revealed that 89% of CFOs are making decisions based on inaccurate or incomplete data.
The report, titled “Office of the CFO 2024: Expectations vs. Reality,” surveyed over 500 finance leaders, revealing a concerning trend in the finance industry.
Despite the increasing reliance on data for decision-making, the quality of this data is often questionable. This has led to a situation where a significant majority of CFOs are knowingly making decisions based on flawed data. A 2019 Gartner report estimated that poor data quality costs businesses an average of $15 million per year.
“Finance leaders are over-extended as they try to meet the expectations placed on them,” says Eléonore Crespo, co-CEO and co-founder, Pigment.
“They often don’t have access to the right data or technology, they’re spending far too much time on low-value tasks, and they aren’t able to upskill or evolve their roles. Without changes, they’re being placed in an impossible-to-win scenario.”
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