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February 13, 2013

Finance professionals want better non-financial data

Finance professionals have called for better non-financial data, according to a report by financial systems expert, Vantage Performance Solutions in conjunction with the Chartered Institute of Management Accountants.

The report found finance professionals believe their ability to provide important analysis and provide input is affected by ‘poor quality non-financial data’ with50% of respondents saying bad data is impacting their performance.

Vantage director David Werrett said such data affects professionals giving "key analysis", including "developing strategies and evaluating the achievement of the business", which he called "fundamental" for evaluating business performance and deciding upon tactical choices.

He also said good quality information, such as KPIs, isn’t included in financial statements but can make a big difference to business decisions and assessments.

"If these professionals have the peace of mind of knowing that both their financial and non-financial data they are working with is accurate, transparent and of high quality, they can focus on adding even more value to the business," Werrett added.

The global survey spoke to 889 finance professionals, including finance managers and management accountants.

Related links

Vantage Performance Solutions

Chartered Institute of Management Accountants

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