News Article - 29 July 2008
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Business bosses are increasingly struggling to keep up with reporting requirements, according to a new survey.

The study by business intelligence group Cognos found almost two-thirds of companies feel the administration is hampering growth and putting a strain on their finance and accounting teams, reports Accountancy Magazine.

It also discovered 56 per cent of firms surveyed have had to restate their financial projections in the last 24 months.

One way of facilitating these statutory requirements is to install accounting software and other financial packages.

Graham Walter, Cognos vice president for the UK, Middle East and Africa, told the news source: "Every finance team needs to be focused on the pace and direction of a business rather than having to spend hours on data input. With the right technology in place, this team can be quickly freed up to be spent on intelligence analysis rather than administration."

In related news, a recent survey by computer support firm Ulysses has found almost one in two accountancy staff risk having confidential information stolen, mainly through using out-of-date browsers.

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