IQ Matters: Senior Finance and IT Executives Seek To Boost Information Quality
A report prepared by CFO Research Services and Deloitte Consulting LLP
CFO Research Services (a unit of CFO Publishing Corporation) and Deloitte Consulting LLP 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 North America, Europe and China, we sought to understand how companies rate their information quality (IQ) — its accuracy, timeliness, reliability and transparency — and their capabilities in providing information relevant to achieving governance and performance objectives. 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.
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.