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The Biggest Area to Fail in Finance Transformation Is the Foundation: Data and Records and Information Management

Publisher IDC
Published May 31, 2023
Length 7 Pages
SKU # IDC17976811

Description

The Biggest Area to Fail in Finance Transformation Is the Foundation: Data and Records and Information Management


This IDC Perspective discusses the importance of records and information management (RIM) and data management, and it includes governance of those areas. Many offices of CFOs start their journey of finance transformation to focus on process improvement and system implementation to solve the cycle time and responsiveness of their teams. But often they do not understand that the foundation to enabling it is the data and records that finance owns and uses. We explore steps on an effective data governance and management plan, including RIM for the office of the CFO."The office of the CFO needs to start with the foundation of the data and the records as a first step in the implementation of a new system. It can save time and frustration with the implementation of new systems." — Heather Herbst, research director, Worldwide Office of the CFO at IDC

Please Note: Extended description available upon request.

Table of Contents

7 Pages
Executive Snapshot
Situation Overview
Records and Information Management in Finance
Data Management Is Essential
Evaluate the Financial Data Structures
Data Governance Is Crucial
Advice for the Technology Buyer
Learn More
Related Research
Synopsis

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