IDC MarketScape: Worldwide Office of the CFO Record to Report 2024 Vendor Assessment

The Record-to-Report (R2R) process ensures accurate financial reporting, giving CFOs and stakeholders a clear view of the company’s performance. By maintaining transparent records, companies reduce fraud risk, build trust, and enhance the credibility of financial statements. The cycle time of the R2R process plays a critical role in ensuring timely and efficient financial reporting.

Leading companies leverage advanced technology to accelerate the R2R cycle, improving accuracy and enabling faster and more strategic decision-making. IDC observes, Companies that utilize advanced technologies, such as cloud-enabled solutions and automated financial systems, significantly reduce their cycle times, enhancing the accuracy and reliability of their financial reports.”

Read this report from IDC to learn more about how businesses utilize technology to accelerate their R2R process.

Source:  " IDC MarketScape Worldwide Office of the CFO Record to Report 2024 Vendor Assessment ", By: Heather Herbs, Kevin Permenter, September 2024, IDC #US52037924

IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. The Capabilities score measures vendor product, go-to-market and business execution in the short-term. The Strategy score measures alignment of vendor strategies with customer requirements in a 3-5-year timeframe. Vendor market share is represented by the size of the circles. Vendor year-over-year growth rate relative to the given market is indicated by a plus, neutral or minus next to the vendor name.