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How Much Financial Data is Too Much Financial Data?

 
  Mark S. Becker, Partner, CFO Edge, LLC  
   
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  Article Summary  
Charged with delivering financial information to management, a finance team can sometimes provide too much data with negative impacts in many areas.

When management receives too much financial data, it's challenging to identify that data which is most important and actionable.

There are also added time requirements for gathering and reporting high volumes of data, activities that can increase costs and call for excessive staffing.

The right financial data balance prioritizes delivery by relative importance, actionable nature and alignment with strategic goals.

Los Angeles and Southern California executives can feel they are receiving large volumes of financial data that isn’t helping them make better decisions.

A conversation with a provider of outsourced CFO services can be of significant benefit as a former enterprise CFO reviews management data needs, current reporting and current systems, as well as recommends improved reporting formats and processes.

The outcome: management receives the right financial information needed to act in areas that are critical to boosting results, increasing efficiencies and reducing costs.

  Open as PDF Open the entire article as a downloadable PDF (No form completion is requested.)  
     
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