IMA and NetSuite Report Finds Roles of Finance Professionals Expanding
Research Identifies Solutions for Accounting and Finance Professionals
Challenged with Providing Analytical Insights
MONTVALE, N.J. -- February 5, 2013
To help businesses cope with today’s progressively complex and competitive
demands, a new research report titled “Rising to the Challenge – Achieving
Real-Time Visibility Across the Organization” details how organizations are
increasingly calling on their accounting and finance teams to go beyond
traditional roles. The report was co-sponsored by IMA^® (Institute of
Management Accountants), the association of accountants and finance
professionals in business, and NetSuite Inc. (NYSE: N), the industry’s leading
provider of cloud-based financials and Enterprise Resource Planning (ERP)
software suites. The full report is available on IMA’s website at:
This new research expands on findings published last year that found
streamlining processes and improving productivity the greatest challenges
faced by today’s finance organizations. The 2013 research focuses on two new
challenges: improving the management reporting cycle and achieving real-time
visibility across the organization by providing analytical insight into the
Led by Raef Lawson, Ph.D., CMA^®, CPA, IMA Vice President of Research and
Professor-in-Residence, the research was conducted by surveying more than
1,500 IMA members representing finance organizations across different
industries. The report offers accountants several recommendations for
improving the management reporting cycle and achieving visibility, including:
*Replace outdated technology with new advancements that allow for quicker
data connections and provide richer insight into the meaning behind the
*Integrate ERP systems across front - and back - office business processes
to make sharing key business information faster and easier across entire
*Eliminate the use of spreadsheets, which require manual effort, create
multiple “versions of the truth,” and are challenging to maintain.
“One of the primary goals of IMA is to deliver solutions-oriented thought
leadership that is timely, relevant, and helps move the accounting and finance
profession forward,” said Dr. Lawson. “As the profession continues to evolve
and professionals are required to take on more strategic roles within an
organization, there is a clear need for ongoing research to help both
companies and professionals stay armed with the information they need to
“We are pleased to co-sponsor this continued research and believe the findings
will help professionals showcase their value within their organization,” added
Ron Gill, CMA, CFO of NetSuite. “As this study indicates, the changing role of
accounting and finance professionals has created opportunities, but also
requires companies to keep pace with the constantly changing business
environment. As the research points out, it’s critical that finance leaders
have the unified systems in place they need to help their companies make
better business decisions.”
This report represents the work of an ongoing research partnership between IMA
and NetSuite, which aims to deliver thought leadership through IMA webinars,
conferences and professional publications.
About IMA^® (Institute of Management Accountants)
IMA^®, the association of accountants and financial professionals in business,
is one of the largest and most respected associations focused exclusively on
advancing the management accounting profession. Globally, IMA supports the
profession through research, the CMA^® (Certified Management Accountant)
program, continuing education, networking, and advocacy of the highest ethical
business practices. IMA has a global network of more than 65,000 members in
120 countries and 200 local chapter communities. IMA provides localized
services through its offices in Montvale, N.J., USA; Zurich, Switzerland;
Dubai, UAE; and Beijing, China. For more information about IMA, please visit
NetSuite Inc. is the industry's leading provider of cloud-based
financials/Enterprise Resource Planning (ERP) software suites. In addition to
financials/ERP software suites, NetSuite offers a broad suite of applications,
including accounting, Customer Relationship Management (CRM), Professional
Services Automation (PSA) and Ecommerce that enables companies to manage most
of their core business operations in its single integrated suite. NetSuite
software allows businesses to automate operations, streamline processes and
access real-time business information anytime, anywhere.
For more information about NetSuite, please visit www.netsuite.com.
Follow NetSuite's Cloud blog, NetSuite's Facebook page and @NetSuite Twitter
handle for real-time updates.
NOTE: NetSuite and the NetSuite logo are service marks of NetSuite Inc.
Third-party trademarks mentioned are the property of their respective owners.
The use of the word partner does not imply a partnership relationship between
NetSuite and any other company.
Marc Gerrone, 201-474-1502
Mei Li, 650-627-1063
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