Survey: Finance department blames IT for ineffectiveness

IT managers know their department is there to help the business run smoothly. Unfortunately, folks in other parts of the company may not think that goal is being met.

A recent KPMG survey of finance pros found that more than half (52%) of respondents from the United States blamed aging and inflexible IT systems for their inability to improve the effectiveness of the finance team.

However, while finance staffers are struggling with the technology that’s currently in place, they do acknowledge that strategic tech investments are a key to a company’s success — and will be even more important in the future. Among the finance pros surveyed, 65% said IT will be more important to the business over the next five years.

The key, for now and the future, is figuring out how to allocate limited tech resources. And the results of this survey suggest many companies may have a need for better communication between IT and finances so needs and budgets can be sorted out.

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