Almost two-thirds of mid- to large-sized US corporations do not have a business analytics solution in place, according to a survey conducted by financial intelligence and accounting software company Coda Group.
The survey found that, while three-quarters of the companies surveyed consider a real-time picture of company performance ‘crucial’, a staggering 95% still rely on manual spreadsheets for reporting and analyses. This is despite the fact that a large number of financial officers are dissatisfied with the quality and timeliness of the information that manual spreadsheets provide.
The results of the October 2002 survey follow Coda’s earlier research into non-US organisations, where 60% of financial officers said they are not able to get current information to measure performance effectively. Again, 95% of non-US respondents rely on manual spreadsheets, according to Coda.