Accountancy firms 'should heed IT expertise'

News Article - Tuesday, July 22, 2008

filed under: Business

Accounting and finance firms that want to improve efficiency and costs must understand the role of IT, it has been claimed.

New research from Gartner has revealed that as finance and accounting functions become more popular chief financial officers must integrate the role of IT effectively.

This follows a recent study from document management firm Invu conducted by YouGov, which revealed that installing accounting software and other electronic tools can improve business efficiency as firms in the UK lose approximately £42 million a day locating misfiled paper documents.

The survey found that an hour a day is spent trying to locate missing files in every UK business.

Research vice president at Gartner Cathy Tornbohm told IT Week that finance and IT departments must collaborate to "deliver a successful outsourcing project together".

"IT should approach the business and lay out the mistakes it will see if previous expertise is ignored," she said.

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