Modern financial controls are standard in global enterprises, but still a difficult topic for many midsize businesses. The gains are obvious, including higher financial transparency, more accountability, and better decision making. Yet many companies lack the resources to respond quickly to changing markets through effective Enterprise Performance Management.
A professional system for enterprise planning, analysis and reporting requires an investment that could be used on profit-raising operational activities. IT departments are often small. If the solution is too technical, finance needs expensive external consulting to implement, maintain, and adapt the solution. The result: 85% of midsize businesses still do not have dedicated Enterprise Performance Management solutions. Instead, they use inefficient, error-prone spreadsheets which hinder transparency and a single version of the truth.