Time is Money, they say. And when you waste time on onerous menial tasks instead of improvements, you aren’t spending your time, or money, wisely. When it comes to planning and analysis, the role of financial professionals is to provide insights that helps shape the direction of the entire organization. However, many financial professionals feel that they spend too much time trying to find and connect data, rather than focusing on strategic insights.
Ask any craftsman the secret to excellence, and you will likely hear that, in addition to skill, the craftsman needs the right tools for the project. The same can be said for finance teams as they work on operational reporting. The most skilled finance professionals still need the right tools to get the job done well.
Our valued partner, Deltek is a leading provider of software and information solutions for project-based businesses. Headquartered in Herndon, Virginia, the company leverages its expertise to maximize efficiency and revenue for clients through project intelligence, management, and collaboration.
In recent years, investors have been placing an increased emphasis on a range of environmental, social, and governance (ESG) issues resulting in ESG reporting becoming more important. These issues are garnering more attention from legislators and regulators from around the world. As a result, there are more demands on companies to report on their activities and practices and how they impact environmental and social sustainability.
Startups and limited liability companies are known for their limited funds, and they prefer to cut down on employee payments to preserve money and recycle whatever they generate into their growth. As a result, they often offer equity compensation to their employees; more specifically, profits interests.
Financial professionals in real estate contend with a wide array of responsibilities—managing financial statements, office space floors, signage, storage space, land, and more. Regulations and interest rates are in a state of constant flux, and they must be assessed as changes arise to build accurate reports.
Eighty-nine percent of financial professionals across multiple geographies and industries are dissatisfied with their operational reporting tools. Why is that number so high? What are the challenges they’re facing? More importantly, what would it take to turn that dissatisfaction into satisfaction?
