What slow-moving F&A organizations can do today to become data-driven

HFS Research in partnership with EXL surveyed more than 200 finance and accounting leaders worldwide and across industries in 2022. This work looked at how these organizations are changing to become data-driven, so they can use data as a strategic asset to quickly generate timely insights.

The journey to data-driven finance is a long-term process with various steps to develop maturity. A key research finding was that F&A organizations at slow-moving companies differ greatly in strategy and action in making this necessary transition as compared to their counterparts at fast-moving companies.

About slow-moving companies

Slow-moving firms, often large, legacy corporations with established processes and organizations, are stable companies but with minimal growth. F&A organizations at these companies usually are focused on cost reduction. In contrast, fast-growing companies often are industry disrupters. They are smaller, nimbler, and forward thinking. At these companies, financial leadership sees the purpose of their work is to utilize data analysis to provide counsel throughout the enterprise and help drive business growth.

To access to the full report, Behind Every Successful Enterprise, There is Data-Driven Finance, visit here https://www.exlservice.com/insights/analyst-report/behind-every- successful-enterprise-is-data-driven-finance

To find more about the report or to learn how EXL can help your organization with its data-driven transformation, please contact us at lookdeeper@exlservice.com.