Finance not exploiting technology: report

CHIEF financial officers (CFOs) and finance functions across companies around the world are not fully exploiting emerging technologies to better support their businesses, says a new report from ACCA (Association of Chartered Certified Accountants).

The report, "Is finance function technology delivering on its promise?", sought in-depth views from finance executives across a spectrum of businesses, including Shell, IBM, Aviva, Accenture and BBC.

Leong Soo Yee, head of ACCA Singapore, said: "The problem is not necessarily that technology isn't available, but there are many reasons why finance has not yet reached tech nirvana. The reality is for most finance functions the technology landscape is still complex and fragmented with multiple ERP (enterprise resource planning) solutions, continuing work-arounds and bolt on applications.