Are you familiar with Oracle CFO Central? This is a site designed by Oracle with a focus on the CFO. The website contains white papers, podcasts, testimonials, case studies, solutions, articles, executive interviews. It’s new, and an excellent resource.
If you are a CFO, VP of finance, or controller, CFO Central has a great amount of information for you.
I want to draw your attention to two specific items:
- Video of an interview with the Hackett Group that outlines the characteristics around EPM and top performing companies.
- An independent market research report funded by Oracle that outlines some key issues with many organizations and their EPM business intelligence capabilities.
Taken from the market research report, I want to take a quick second to draw some interesting statistics to your attention:
- “Spreadsheet Spaghetti: Managers typically spend over a third (36%) of their week number crunching in spreadsheets. This figure rises with seniority, with C-level executives spending 40% of their time managing the company through simple spreadsheets.”
- “Vintage Data: Handling data this way means it becomes outdated quickly: on average, data used to make decisions is more than four months old; worse still is that 28% of managers do not even know the age of the data they use.”
- “Silo Mentality: 87% of businesses criticise inter-departmental data sharing and communication with 71% describing the links between strategic goals, operational plans and budgets as “fragmented.”
These statistics certainly support some of our previous blogs around:
- Why Excel is not a BI solution
- Aligning metrics across the various organizations within a business
- Strong data quality
In any event, take a look at the Oracle CFO site, sign up, and enjoy the reading. There is some valuable content here. As always, I’m happy to answer any questions or provide any direction.
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