The Biggest Area to Fail in Finance Transformation Is the Foundation: Data and Records and Information Management

The Biggest Area to Fail in Finance Transformation Is the Foundation: Data and Records and Information Management

This IDC Perspective discusses the importance of records and information management (RIM) and data management, and it includes governance of those areas. Many offices of CFOs start their journey of finance transformation to focus on process improvement and system implementation to solve the cycle time and responsiveness of their teams. But often they do not understand that the foundation to enabling it is the data and records that finance owns and uses. We explore steps on an effective data governance and management plan, including RIM for the office of the CFO."The office of the CFO needs to start with the foundation of the data and the records as a first step in the implementation of a new system. It can save time and frustration with the implementation of new systems." — Heather Herbst, research director, Worldwide Office of the CFO at IDC

Please Note: Extended description available upon request.