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Tuesday, January 17, 2006

Finance Combines Opportunity with Necessity

While spending on compliance will shift toward new technology investments, companies are equally focused on using this technology to improve core finance processes and to sharpen their view of business performance.

After marching through the first phases of compliance with the Sarbanes-Oxley Act, senior finance executives are turning their attention to making their regulatory compliance both more sustainable and also a driver of better business performance, according to a May 2005 survey of readers of CFO magazine. While spending on compliance will shift toward new technology investments, companies are equally focused on using this technology to improve core finance processes and to sharpen their view of business performance.

Senior finance executives believe their current processes and systems are insufficient to deliver sustained, cost-effective compliance with regulation — and they are concerned about the future cost of regulatory compliance. More than two-thirds of finance executives responding to the study say they are troubled by the future cost of regulatory compliance. Clearly, many CFOs underestimated the expenditure in the planning phase.

posted by Brian Moran @ 9:24 AM   0 comments

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