<< Back to Press Releases Index
Ventana Research Publishes Benchmark Research on the Office of Finance
Research explores best practices and challenges for organizations
Ventana Research today released its latest market research on the Office of Finance. We have conducted quantitative research on the performance of the finance organization for 15 years against the backdrop of the idea that finance organizations must play a more strategic role in the management of the modern corporation. This idea of transforming the finance department has been around for decades but this latest Office of Finance research offers some evidence that we are on the cusp of such a transformation.
For the first time, we see a significant shortening of the monthly and quarterly financial close process. We also see progress in automation and communication across the organization. Technology that’s already available has the potential to have a greater impact on how the department operates over the next 10 years as it has over the past 50. Despite this backdrop of change in many aspects of business, we consistently see evidence that the Office of Finance is a laggard. Today, for example, a growing array of tools and techniques are available to enhance the effectiveness of the analytics used by finance organizations, but we find that most corporations stick to the systems and approaches they have always used.
“These results are encouraging, but it also means that what once constituted average performance is now substandard,” said Robert Kugel, SVP & Research Director of CFO and business research. “Moreover, efficiency gains by themselves aren’t digital transformation. Digital transformation occurs when the department evolves from simply keeping the books and summarizing past performance to serving as a strategic partner to the rest of the company.”
Those interested in learning more about this benchmark research can do so at www.ventanaresearch.com/benchmark/office_of_finance/office_of_finance. Ventana Research is a leading business technology research and advisory services firm. For more information on how to use this research in your organization, or purchasing research reports, please visit www.ventanaresearch.com/services.
About Ventana Research
Ventana Research is the most authoritative and respected benchmark business technology research and advisory services firm. We provide insight and expert guidance on mainstream and disruptive technologies through a unique set of research-based offerings including benchmark research and technology evaluation assessments, education workshops and our research and advisory services, Ventana On-Demand. Our unparalleled understanding of the role of technology in optimizing business processes and performance and our best practices guidance are rooted in our rigorous research-based benchmarking of people, processes, information and technology across business and IT functions in every industry. This benchmark research plus our market coverage and in-depth knowledge of hundreds of technology providers means we can deliver education and expertise to our clients to increase the value they derive from technology investments while reducing time, cost and risk.
Ventana Research provides the most comprehensive analyst and research coverage in the industry; business and IT professionals worldwide are members of our community and benefit from Ventana Research's insights, as do highly regarded media and association partners around the globe. Our views and analyses are distributed daily through blogs and social media channels including Twitter, Facebook and LinkedIn. To learn how Ventana Research advances the maturity of organizations’ use of information and technology through benchmark research, education and advisory services, visit www.ventanaresearch.com.
Media: Interviews are available upon request.
Media Contact:
Marketing
marketing@ventanaresearch.com
About ISG Software Research
ISG Software Research provides authoritative market research and coverage on the business and IT aspects of the software industry. We distribute research and insights daily through our community, and we provide a portfolio of consulting, advisory, research and education services for enterprises, software and service providers, and investment firms. Our premier service, ISG Software Research On-Demand, provides structured education and advisory support with subject-matter expertise and experience in the software industry. ISG Research Buyers Guides support the RFI/RFP process and help enterprises assess, evaluate and select software providers through tailored Assessment Services and our Value Index methodology. Visit www.isg-research.net/join-our-community to sign up for free community membership with access to our research and insights.
About ISG Research
ISG Research™ provides subscription research, advisory consulting and executive event services focused on market trends and disruptive technologies driving change in business computing. ISG Research™ delivers guidance that helps businesses accelerate growth and create more value. For more information about ISG Research™ subscriptions, please email contact@isg-one.com.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 900 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including AI and automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs 1,600 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data.
For more information, visit isg-one.com.