How Data Drives Finance and Accounting Collaboration

While stale data hinders financial decision-making, organizations can accelerate collaboration between finance and accounting teams by democratizing access to fresh data. This enables informed decisions on overall performance, risk assessment, behavior trends, potential outcomes, planning for growth, and robust financial planning. Real-time data analytics allows departments to make better use of available funds, reduces budget bottlenecks, and supports interdepartmental collaboration by enabling finance and accounting teams to create and act on accurate budgets, predict financial roadblocks, and promote the financial health of the organization.