Race to Report Slams Brakes on
Almost two-thirds of companies (63 per cent) feel that increasing reporting requirements are putting a strain on their finance teams and stalling future growth. This is according to research from Cognos, an IBM company. Indeed, 83 per cent of those questioned are finding themselves too focused on reporting, rather than business growth. Furthermore, over half of companies (56 per cent) have had to restate their financial forecast in the last two years.
Almost a fifth of people (17 per cent) questioned felt that reporting deadlines and statutory requirements were a problem of greater significance than finance teams being under-resourced (13 per cent).
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