A recent survey of nearly 150 corporate finance leaders has shown what we’ve known for some time: Corporate finance leaders realize the need for, and benefits of, cloud-based CPM software.
According to the survey conducted by Talentia Software, 50 percent of the finance directors and CFOs included in the survey are still using spreadsheets to manage their overall corporate performance.
Fifty-four percent of respondents within the same survey said that they believe collaboration across company departments is definitely critical to improving their corporate performance. Another 81 percent also said that accurate data is equally crucial.
The survey results further solidify many of the surveys and research we’ve seen by a wide range of financial leaders and organizations. Earlier this month while making the case for cloud-based CPM & BI software, Saugatuck Research revealed “lack of flexibility to adapt to business change” as the #1 issue CFOs have with their existing finance systems.
In mid-September, TechVentive Founder and technology industry expert Brian Sommer declared that cloud finance software had “crossed the chasm” and had officially hit mainstream usage among small businesses and enterprises alike because of its scalability, collaborative, and data accuracy benefits compared to on-premise spreadsheets.
Adaptive’s own research has revealed that, while over 60 percent of corporate finance teams are still using spreadsheets to handle financial planning & analysis (FP&A) processes, nearly 75 percent said that business analytics are a top priority.
We’ve seen time and time again that finance execs trust cloud-based cash flow forecasting software to help alleviate some of the biggest issues they have with their on-premise solutions. So why are so many still dealing with tedious, unreliable spreadsheets? There’s not enough support from cloud software providers to guide them through that change.
Adaptive is here to help.
In addition to our upcoming webinar on keeping games and politics out of your budgeting process, we have a wide range of tools to help you develop a financial plan best suited for your business.
Pick up three tips to help you develop better financial planning in today’s data-driven culture. Then download our new Adaptive Discovery and Adaptive Consolidation eBooks for a visually guide to understanding how our cloud-based CPM and BI software suite can help your team achieve greater collaboration and flexibility with accurate data that you can depend on use to drive key business decisions.
Or simply sign up for an Adaptive Planning free trial today and see for yourself why the fastest-growing, most innovative companies today choose Adaptive!