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Global Finance Teams Falling Behind in Digital Transformation, According to Report from insightsoftware and Hanover Research

Jet Global

Finance teams’ top three responsibilities remain consistent with 2021 findings – financial planning and analysis was the number one area noted by respondents (64%), followed by financial modeling (57%), and budget and forecasting (47%). Several other tasks, however, are becoming more common, reflecting a gradual shift in priorities.

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SOX Compliance Guide

Jet Global

The majority of your SOX compliance audit will be spent reviewing internal controls for the purposes of risk management assessment. Improved Risk Management : The focus on internal controls and risk assessment in SOX helps companies identify and manage potential risks more effectively.

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2023’s Top Trends for Finance Teams in Europe, the Middle East, and Africa

Jet Global

The top responsibilities for finance teams throughout EMEA are: 65% Financial Planning and Analysis 54% Budget and Forecasting 48% Financial Modeling 48% Tax Management Nearly three-quarters (69%) of this year’s EMEA-based survey respondents feel pressure from inflation, economic disruption, and recession. Request a demo today.

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Board Report Best Practices

Jet Global

These reports also provide readers with guidance as to where the company sits at present, and where the executive sees it heading in the future and via which strategies. A board report can contain many types of information including financial data, data related to key performance indicators (KPIs), and future forecasting.

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insightsoftware Ranks in the Gartner Magic Quadrant for Financial Close and Consolidation Solutions

Jet Global

To be considered, product capabilities must include close management, financial consolidation, financial statement reconciliation and journal entry processing. Optional capabilities include financial reporting risk management and disclosure management.

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Agility for Strategic Decision-Making: A Finance Team Imperative

Jet Global

Tangibly, this means more planning, more accurate and deeper forecasting, and more strategic decision-making based on real-time reporting. Respondents also reported that their processes are significantly more efficient in 2022 than they were in 2021. Financial reporting (89 percent). Operational reporting (84 percent).

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What is Account Reconciliation?

Jet Global

Enhanced financial decision-making – Account reconciliations help ensure that financial data used for decision-making purposes, such as budgeting, forecasting, and strategic planning, is trustworthy and reflects the true financial position and performance of the organization.