Most finance professionals spend a great deal of time fielding requests from the business. When the finance function isn’t responsive to the business needs of the enterprise, it can damage their perceived value across the enterprise.
But their stalled response is not for lack of effort. Outdated systems make it very difficult for finance to work in an agile way – often causing them to have to resort to working late hours, and even over the weekend, to answer ad hoc inquiries and report requests from the business.
This issue isn’t just about inefficiency and wasted time. When a system isn’t giving you the right answer at the right time, finance is losing the time it needs to be strategic, and the business pays for it in lost opportunities. Stu Lucko, CFO here on the Hubble team at insightsoftware.com, calls this the “Responsiveness Tax”, and he says it’s much more costly to the business than one may think.
Click here to see how much the “Responsiveness Tax” could be costing you in this CFO.com article featuring an interview by Stu Lucko.