information technology, CFO, IT executives,

CFO Research Services (a unit of CFO Publishing Corp.) and Deloitte launched a research program to explore the quality of management information and its proficiency in meeting information needs at large companies around the world. Through a survey and interview program among senior finance executives in Canada, the U.S., Europe and China, we sought to understand how companies rate their information quality (IQ). Information quality was rated in terms of its accuracy, timeliness, reliability and transparency — and its capability to achieve governance and performance objectives.
The survey found that:

61 percent of global respondents are dissatisfied with the quality of their most basic financial information
82 percent cite the utility of operating and financial information for forward-looking planning and strategy as their largest problem area
More than 80 percent feel that improved information would allow them to make better operating decisions and reduce costs at their companies

We also sought to document how the chief financial officer (CFO) and the chief information officer (CIO) are working together in new ways in an effort to boost information quality. More than half of the respondents reported that their CFOs and CIOs are collaborating more closely today than they were in the past.

We gathered 385 responses to the survey, two-thirds of which were from executives at companies with more than $1 billion in annual revenue. Seventy percent of respondents are from North American companies, 22 percent are from European companies, and 8 percent are from Chinese companies. We sought to include both finance and information technology (IT) executives in this study. Executives with top finance titles such as CFO, controller and vice president of finance make up 64 percent of respondents, while IT executives — including CIOs, vice presidents of IT and directors of IT — comprise 18 percent of respondents.

To learn more, read the report "IQ Matters: Senior finance and IT executives seek to boost information quality."



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