From the June 2012 issue of Treasury & Risk magazine

Financial Reporting Blues

Despite companies' efforts to improve financial reporting processes, 67% still use spreadsheets, a recent survey shows.

Companies have invested a lot of time and money in efforts to improve financial reporting and related processes, but a recent survey suggests they’ve still got a long way to go.

Of the more than 1,100 finance executives worldwide surveyed by Oracle and Accenture, 82% say they’ve made significant changes to their financial close, reporting and filing processes in the last three years, and 47% say they’ve made substantial investments within the last year. Despite those investments, 67% continue to use spreadsheets.

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