Posted by: pen2bit | March 30, 2009

Is The CFO Ready for DSS?

A personal thought on an article from CFO.

Financial analysis and forecasts are always in demand by CEOs. They ask CFOs to have those papers ready for a very real timed basis, but do CEOs know how their CFOs spend their time during a day? How about CFOs, are they ready to use DSSs?

A survey done by the non-profit research firm APQC sponsored by “CFO Asia” and “IBM Global Business Services” provides some numbers about the the CFOs issues. It is good to know that the biggest time chunk of both CFOs in Asia and US is eaten up by transaction processing.

For me it was not reasonable! What I have been assuming for a CFO’s day was to spend most of his time for analysis and forecast at least in the United States. I wonder how technology is not ready for this task yet!

Excerpt from the article;

“On average, the 54 CFOs surveyed in Asia said their departments spend 50 percent of their time on transaction processing. The rest of the work day is spent on decision support (16 percent), control (19 percent), and management activities (15 percent).If it’s any comfort, CFOs in the United States are in the same boat. The 89 respondents polled there said their company’s finance function devotes 46 percent of its time to transaction processing, and 18 percent each on decision support, control, and management activities.”

And what I thought is already a normal process in the firms is still a dream for CFOs. The survey shows that both CFOs in Asia and US are expecting to spend less time on transaction processing by 2010 using shared services center and technology!!

An excerpt from article;

“By 2010, CFOs in Asia aim to reduce time spent on transaction processing to 38 percent (U.S. respondents: 35 percent), while increasing the time devoted to decision support and other activities to 62 percent (U.S. respondents: 65 percent).”

Finally I remind this quote from Jean de La FontaineA hungry stomach cannot hear”!!!

Let’s face it, by all the technology and tools provided for firms and companies especially here in the states when a chief officer is short in his vital tasks it is not wise to bother him thinking about decision support systems.

Hopefully after helping him with his vital task maybe!

APQC survey result

APQC survey result

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