So businesses everywhere are more and more focused on harnessing the power of data in order to put at the disposal of their executive teams actionable insights about their performance, clients and operations. Adding to this, there is an ever expanding body of government regulations that impose disclosures and reporting requirements.
To achieve this, employees in various departments need to put in hundreds of hours of manual work on a monthly basis to provide the necessary reporting. This is cumbersome and ineffective.
Technology can help address these challenges and provide you the information you need in a convenient and easy to read format within seconds. Through data process automation you can save hundreds of hours of work needed to source, manage, transform, process and understand data.
But digital transformation is neither easy, nor quick. Not all businesses are in the position to build technology-savvy teams and necessary infrastructure in-house in order to benefit from modern data transformation tools that help decrease manual data processing tasks to a minimum.
Source: PwC 2021 Finance Effectiveness Benchmarking Study
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