SaaS and Core Finance Effectiveness An Executive Summary Research Report for FEI Members
A research report prepared by:
In partnership with:
February 2009
SaaS and Core Finance Effectiveness—An FEI Executive Summary Report
For FEI Members Only This complimentary Executive Summary report was prepared exclusively for FEI members to present summary findings from our recent research with FERF regarding SaaS in Finance organizations. Saugatuck’s full report on SaaS in Finance organizations, titled "Great Expectations: SaaS Strategies in the Finance Organization" (SSR-561, published on February 11, 2009), is available for sale and download directly from Saugatuck Technology. FEI members are entitled to purchase the complete report for $647.50, a 50percent discount off the standard single-user download report price of $1,295. That report examines the changing role of the CFO and Finance, how well current systems are meeting their evolved needs, and how SaaS can address and fill critical business gaps. It further highlights key SaaS requirements and preferences among senior finance executives, including which applications will experience the fastest adoption over the next few years. The full report also includes data, analysis, and recommendations from two Saugatuck SaaS research programs: Saugatuck’s 2008 annual web survey of business, finance and IT user executives related to their SaaS and business strategies and activity; and the 2008 web survey of senior finance executives conducted by Saugatuck in partnership with Finance Executives International / FEI and the Finance Executives Research Foundation / FERF. Both programs supplement the survey research with deep-dive interviews with survey participants, and briefings with leading and emerging SaaS solution providers. To learn more about the complete report, and to purchase it at this special FEI member pricing, go to: http://www.saugatech.com/ferfoffer/561ferforder.htm (User ID: “ferf”; Password: “saas” – both lower-case).
© 2009 Saugatuck Technology Inc. and FERF
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SaaS and Core Finance Effectiveness—An FEI Executive Summary Report
TABLE OF CONTENTS
Introduction
1
Research Highlights
1
Defining SaaS
2
The Value of SaaS to Finance
2
FEI Members Offer Early SaaS Adopter Insights
4
SaaS Concerns and Finance Change
6
Key SaaS Actions for Finance
8
TABLE OF FIGURES
Figure 1: Finance Organizations’ “Effectiveness Gaps”
2
Figure 2: SaaS Fills in Effectiveness Gaps
3
Figure 3: Top Business Benefits Expected from SaaS
5
Figure 4: Finance Concerns Regarding SaaS
6
Figure 5: How SaaS Solutions Improve Financial Management Figure 6: Finance Executives’ Intentions Regarding SaaS Application Acquisition through 2009
7 8
About this report This Executive Summary report provides to Financial Executives International (FEI) members analysis of recent Saugatuck Technology research on SaaS plans and usage by executives within Financial organizations. The data come from a web survey conducted by Saugatuck Technology, in partnership with the FEI and the Financial Executives Research Foundation (FERF). FERF’s participation in this research was sponsored by Microsoft Corp. The following Saugatuck staff members were instrumental in the development of this report: · SaaS research development and leadership: Michael West, Bill McNee · Survey research leadership: Mark Koenig · Lead author: Bruce Guptill · Contributing authors: Michael West, Mark Koenig
ISBN #: 978-1-61509-000-6 About Saugatuck Technology Saugatuck Technology Inc. provides market strategy consulting and subscription research services to senior executives, information technology vendors, and investors, combining strategy development, business planning, and market intelligence with first-hand research of executive technology buyer trends. Founded in 1999, Saugatuck is headquartered in Westport, Connecticut (USA), with offices in Silicon Valley and in Germany. For more information, go to www.saugatech.com, or call +1.203.454.3900 in the US, or +49.6123.630285 in Germany.
Entire Contents © Saugatuck Technology Inc. and Financial Executives Research Foundation. All rights are reserved. Reproduction of this publication in any form without prior written permission is strictly prohibited.
© 2009 Saugatuck Technology Inc. and FERF
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SaaS and Core Finance Effectiveness—An FEI Executive Summary Report
I NTRODUCTION The use of software-as-a-service (SaaS) is growing rapidly beyond its original, point-solution functionality, and into critical enterprise business operations. And it is not just back-office Sales and HR taking advantage of SaaS – Finance also sees SaaS as increasingly critical. Survey research by Saugatuck Technology Inc. of user enterprises worldwide in early 2008 indicates that usage of SaaS-based core systems of record (including Finance / Accounting systems and Business Intelligence / Corporate Performance Management) will increase from 18.3 percent of user firms in 2008 to 40 percent or more by year-end 2010. This represents not only a sea-change in the use of SaaS by enterprises from small, point solutions to larger, enterprise-critical systems. It also represents a significant change in the attitudes of senior enterprise executives, including Finance executives. Both changes parallel a growing transformation by Finance organizations to improve their own abilities, in order to enable a more strategic business role for Finance within and beyond the enterprise. In early 2008, Financial Executives Research Foundation (FERF) committee members expressed interest in having Saugatuck “drill down” into these trends, with a web survey of Financial Executives International (FEI) membership regarding the value of SaaS to Finance organizations and executives, the concerns of Finance executives regarding SaaS adoption, and their plans for pursuing and benefiting from SaaS. A follow-up web survey was conducted in partnership with FERF, yielding approximately 150 responses from FEI members. This report presents an executive-level summary of key data, analysis, and insight by Saugatuck from that survey for FEI members. Key Questions that are addressed in this report include: •
Where do Finance executives see the greatest need for, and value of, SaaS?
•
How is SaaS adoption and use changing Finance?
•
−
What are Finance concerns regarding SaaS; and
−
How can/should these be managed?
What will be/should be key Finance strategies, plans and actions?
RESEARCH HIGHLIGHTS •
•
•
•
•
Finance executives see broad-based value in the use of SaaS across both tactical point solutions and core finance systems, functions and roles. Saugatuck believes that SaaS in Finance will follow an adoption profile similar to the general market adoption of SaaS and on-demand solutions – with some lag, especially among larger companies. Nearly 60 percent of Finance executives indicated that their firms are using SaaS for mature business applications categories such as Payroll. CFOs see SaaS as a way to bridge many of the “effectiveness gaps” that exist relative to how well current on-premise systems address their evolving mission and goals. The business goals that CFOs believe SaaS can most improve the effectiveness of Finance include improving ROI, managing performance in the context of risk, reducing process inefficiencies, and optimizing business processes. SaaS is seen as a cost-effective means of getting Finance out of software and systems management, enabling it to focus more on being a Finance department. SaaS is moving rapidly to include business process layer capabilities and management, and is encompassing a broad range of data, resource and functional management services. © 2009 Saugatuck Technology Inc. and FERF
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SaaS and Core Finance Effectiveness—An FEI Executive Summary Report
DEFINING SAAS Saugatuck uses the term Software-as-a-Service (SaaS) to refer to the delivery and use of application or infrastructure software functionality via a network. SaaS is used on a demand basis, and can be sold, delivered and paid for via a subscription model, on a "pay as you go" (PAYG) basis, or, more frequently, in a combination of models that enable utility-style usage.
THE VALUE OF SAAS TO FINANCE Every Finance organization sees gaps between what they need to do, and how well they can accomplish these tasks. Our survey asked Finance executives to rank their organizations’ most important business goals, and then to rank their organizational systems’ abilities to meet those goals. Figure 1 below uses the data from these questions to illustrate what Saugatuck calls the “effectiveness” gaps between what Finance needs and wants to do, versus how well their existing systems allow them to do it. Figure 1: Finance Organizations’ “Effectiveness Gaps” Providing financial information to decision makers
Business Goals for Finance Organizations
Recording transactions according to GAAP Maintaining an effective internal control structure and process
“Effectiveness Gaps” between goals and the abilities of current Finance systems to deliver satisfactorily.
Publishing complete and relevant information to stakeholders Optimizing business processes
Reducing process inefficiencies
Improving ROI Reducing fraudulent transactions Managing performance in the context of business risk 0
0.5
1
1.5
2
2.5
3
3.5
4
4.5
5
Blended Averages: 1 = Least Important/Least Effective; 5 = Most Important/Most Effective Importance of Goals
Effectiveness of Current Financial Solutions
Source: Saugatuck Technology Inc. and FERF, 2008 web-based survey of FEI membership
The first thing we see in Figure 1 is that Finance executives rank their organizations’ business goals at a critical level of importance. This is not unexpected given the strategic role of Finance to any enterprise. But the second thing we see is the large gap between what Finance sees as the effectiveness of their current systems, and the critical importance of their work. Saugatuck research with Finance executives and organizations over the years provides us with some useful insights as to why this gap exists. The first and foremost reason is that most Finance systems tend to be built specifically for a function, task,
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SaaS and Core Finance Effectiveness—An FEI Executive Summary Report
process, and/or group. Over time, the purposes of these systems are expanded, the scope of their interaction with other systems increases, and their original design falls short of these expanded, increased demands and expectations. Secondly, Finance as an organization tends to operate in “silos” of process and function. This is a legacy of technology and of organizational structure and culture. Meanwhile, Finance is increasingly expected to play a more strategic role in enterprise business planning, management, development, partnerships, infrastructure, and so on. The silo’d nature of traditional Finance organizations and systems make it more difficult to play this strategic role effectively. The costs of the silo’d approach increase dramatically as Finance’s role extend to other business functions and groups within the enterprise. And these increase further as Finance plays more strategic roles with partner and customer organizations. The more complexity and cost increase, the greater the effectiveness gaps become. The greater the effectiveness gaps grow, the more the costs of Finance grow. Awareness of the “effectiveness gaps,” and the attendant costs to the business, are driving Finance executives to consider software as a service (SaaS) for core Finance systems. Long considered an adjunct or complementary means of delivering and using simple business software functionality, SaaS is increasingly becoming part of core Finance processes and functions. Our survey indicates that Finance executives see SaaS as bridging many of their effectiveness gaps, and improving the ability of Finance to deliver on key business goals. Our survey asked these executives how effective they believe that SaaS would be in addressing their needs for the same core Finance functions and operations ranked in Figure 1 above. As Figure 2 below shows, these executives see SaaS as bridging many, if not most, of Finance’s effectiveness gaps. Figure 2: SaaS Fills in Effectiveness Gaps Providing financial information to decision makers
Business Goals for Finance Organizations
Recording transactions according to GAAP Maintaining an effective internal control structure and process
Finance executives see SaaS filling in much of the “Effectiveness Gaps” that exist between current Finance systems and Finance business goals.
Publishing complete and relevant information to stakeholders Optimizing business processes
Reducing process inefficiencies
Improving ROI Reducing fraudulent transactions Managing performance in the context of business risk 0
0.5
1
1.5
2
2.5
3
3.5
4
4.5
5
Blended Averages: 1 = Least Important/Least Efficient; 5 = Most Important/Most Efficient Importance of Goals
Expected SaaS Effectiveness
Effectiveness of Current Financial Solutions
Source: Saugatuck Technology Inc. and FERF, 2008 web-based survey of FEI membership
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SaaS and Core Finance Effectiveness—An FEI Executive Summary Report
FEI MEMBERS OFFER EARLY SAAS ADOPTER INSIGHTS In addition to conducting survey research with the FEI, Saugatuck founder and CEO Bill McNee led a panel of Finance executives focused on SaaS experiences and best practices at the FEI Summit in 2008. The three panelists were all early SaaS adopters from mid-sized companies. Two of the three panelists – Steve Yeffa (CFO Cartridge World) and Tom Berquist (EVP and CFO, Ingres) – were users of SaaS-based core financials (NetSuite and Intacct respectively). In Cartridge World’s case, Yeffa shared that “We went down the SaaS path to preserve capital for our growing company. To develop the staff internally to support an on-premise solution would have been a big challenge. . . . SaaS brought speed and consistency to our financials, and allowed our company to be SarbOx compliant around the world, while addressing all of our data integrity and privacy issues. With over 1,600 franchisees, in our case the challenge has been in managing teams across four countries where we have full-time employees and getting rid of legacy systems.” Ingres – a recent spin-out from Computer Associates (CA) – has aggressively adopted SaaS solutions. As Berquist highlighted – picking a place to start with SaaS is critical. “I highly recommend that you pick a hub to start with. Salesforce was our starting point – which then led to our company selecting Intacct for financials, Xactly for compensation, and LucidEra for reporting. The key is that you have to start somewhere. In our case, we went best-ofbreed, but I can see over time how this may change with suites potentially winning out over time . . . By implementing our CRM and Financial Accounting systems in SaaS, we were able to get up and running ASAP, soon after getting spun out of CA. The biggest ‘con’ with SaaS is dealing with the Web all of the time, especially for our business which is very international in scope. Sometimes it is slower from a data entry perspective – but overall it is a superior way of doing financials.” The third panelist – Mike Akers (COO and CFO of PowerSystems) – deployed SaaS to help solve a very specific business need. “In the Sales Tax area, there is no way to win. This was a perfect tactical business process to outsource. . . While a ‘con’ is always dealing with the web, a ‘pro’ in going the SaaS route is that we were able to ‘hire expertise’ vs. having to develop it internally. SaaS has actually improved the data integrity issue at our company. Our SaaS Sales Tax solution provider, Sabrix, interprets the laws for us – so we don’t have to. I highly recommend, however, that you do thorough due diligence on your providers – and determine whether you can truly ‘trust’ them as a partner, including putting in place appropriate SLAs, et al to help guarantee your success.” Source: Saugatuck Technology Inc. RA-462, “SaaS and Core Systems of Record: Observations from the FEI Summit,” published 7 May 2008
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SaaS and Core Finance Effectiveness—An FEI Executive Summary Report
Saugatuck’s analysis of the survey data, supported by our interviews with Finance executives, show across-the-board expectations that SaaS can improve the effectiveness of Finance in meeting core business goals. We note that SaaS is not expected to solve all of Finance’s challenges. In Figure 2, we can see that the expected effectiveness improvements from SaaS do not reach the critical importance levels of the business goals. In some cases, SaaS still falls well short of perfection (e.g., Providing financial information to decision makers). But we do see expectations of marked improvement by using SaaS instead of existing systems. And these expectations are being supported by action. Saugatuck research indicates that more than 50 percent of Finance executives report one or more SaaS deployments today. Nearly 25 percent of Finance executives report having multiple solutions in place, and having plans to implement more. And half of all Finance executives surveyed also report that SaaS is being used for core applications within Finance operations. Why is this? What drives Finance executives to believe that SaaS is, or will be, better than what they currently have and use? To find out, our survey asked executives to rank the business benefits that they expected to gain from SaaS. The results are displayed in Figure 3 below. Figure 3: Top Business Benefits Expected from SaaS Simplify software management
43%
Reduce capital and/or operating costs
42%
Enable focus on core competencies
40%
Leverage SaaS provider's leading-edge technology
34%
Improve service levels
30%
Speed implementation
30%
Access next-generation application functionality not available in current software Convert fixed IT costs to variable costs
28% 21%
Improve internal and external collaboration
15%
Reduce risk
12%
Access to SaaS provider's business and finance expertise
10%
Increase revenue
5%
Faster time to market
4% 0%
10%
20%
30%
40%
50%
Percentage of Respondents Selecting as One of Top Three Benefits
Source: Saugatuck Technology Inc. and FERF, 2008 web-based survey of FEI membership
SaaS is seen as a cost-effective means of getting Finance out of software and systems management, and enabling it to focus more on being a Finance department. Leading-edge, next-generation technologies from SaaS providers are seen as key means to enabling more and better integration with different systems, which in turn helps Finance to improve its ability to cost-effectively support the business, faster. In sum, SaaS is seen not as a cross-Finance panacea, but as a means to costeffectively enable better operations. © 2009 Saugatuck Technology Inc. and FERF
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SaaS and Core Finance Effectiveness—An FEI Executive Summary Report
SAAS CONCERNS AND FINANCE CHANGE This is not to say that Finance executives lack concerns about SaaS, SaaS providers, and the abilities of their organization and enterprise to utilize SaaS. Figure 4 below summarizes and ranks executives’ concerns. Figure 4: Finance Concerns Regarding SaaS Ability to customize solution to unique business requirements
42%
Data Security & Privacy concerns
41%
Integrating SaaS with existing enterprise applications
36%
Ensuring system performance meets or exceeds service level agreements for performance and availability
32%
Integrating SaaS data with existing enterprise data structures
29%
Availability of enterprise level technical support and maintenance
27%
Viability of SaaS vendors
25%
Data and Transaction Integrity concerns
25%
Modifying existing IT management and sourcing practices to encompass SaaS
22%
Integrating SaaS data and applications with other SaaS applications
10%
ROI of SaaS not yet verified
10%
0% 5% 10% 15% 20% 25% 30% 35% 40% 45% Percentage of Respondents Selecting as One of Top Three Concerns
Source: Saugatuck Technology Inc. and FERF, 2008 web-based survey of FEI membership
The top-ranked concerns are not surprising in Saugatuck’s experience in working with, and researching, Finance executives. These top concerns are extremely similar to those regularly cited by Finance, IT and C-level business executives. The same concerns tend to be raised time and again when considering any significant business software or services offering or provider. These are key business issues. They also tend to be the most readily addressed and resolved, usually in preacquisition fact-finding needs analysis, contract negotiations, and service-level agreements with SaaS providers, and increasingly with value-added resellers (VARs) and systems integrators (SIs) with whom the enterprise is comfortable working. Saugatuck finds more and more that VARs and SIs with specific market or industry experience, and customer relationships, are involved in SaaS acquisition and implementation. They have the knowledge, expertise, and relationship to make SaaS work in the most effective manner for Finance. Saugatuck’s analysts did find the bottom-ranked SaaS concerns – integrating data and applications, and ROI – somewhat surprising for a Finance survey audience. Interviews with Finance executives indicate that these are not key concerns for most Finance executives because they are 1) Confident that the SaaS provider, VAR and/or SI will manage the integration as part of the acquisition and implementations; and 2) ROI is a factor that must be satisfied as part of the acquisition investigation and process. © 2009 Saugatuck Technology Inc. and FERF
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SaaS and Core Finance Effectiveness—An FEI Executive Summary Report
Saugatuck is concerned that integration concerns may also be low among Finance executives because SaaS is likely to follow existing, traditional Finance IT silo patterns. If this is the case, SaaS’ abilities to close the effectiveness gaps between business goals and Finance’s abilities to reach those goals will be lessened. This is particularly true for process improvement, which typically requires integration across multiple applications in order to be most rewarding. In the end, in order to build a business case for core Finance use of SaaS, we must focus on how and where SaaS will deliver improvement. Saugatuck’s survey asked Finance executives to rank what they see as the most important abilities of SaaS to help them improve how they manage their responsibilities. Figure 5 below presents that data. Figure 5: How SaaS Solutions Improve Financial Management
Reducing process inefficiencies
3.81
Optimizing business processes
3.75
Providing financial information to decision makers
3.73
Publishing complete and relevant information to stakeholders
3.56
Improving ROI
3.55
Maintaining an effective internal control structure and process
3.52
Managing performance in the context of business risk
3.39
Recording transactions according to GAAP
3.33
Reducing fraudulent transactions 0 1 2 Blended Overall Ranking of SaaS' Ability by Respondents (1-Strongly Disagree, 5 - Strongly Agree)
3.3 3
4
5
Source: Saugatuck Technology Inc. and FERF, 2008 web-based survey of FEI membership
As we found when we examined Finance executives’ expected business benefits of SaaS (Figure 2), there is expectation of benefit across the board when it comes to using SaaS to manage Finance responsibilities. But unlike executives’ expectations of benefits (or concerns, for that matter) there is no clear set of tiers of high- and lower-ranked Finance management improvement from SaaS. Instead, we see a very tightly-bunched ranking, albeit with a clear rank order. We also see that the entire rank order falls within a narrow range of normalized responses. This reinforces our earlier finding that Finance executives see broadbased value in the use of SaaS across core Finance systems, functions and roles. SaaS provides, in their eyes, Finance-wide value.
© 2009 Saugatuck Technology Inc. and FERF
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SaaS and Core Finance Effectiveness—An FEI Executive Summary Report
KEY SAAS ACTIONS FOR FINANCE To enable the strategic value of SaaS to Finance (and to the enterprise), simple planning is required. Saugatuck research with finance executives within all sizes of firms, in all industries worldwide, provides the following Best Practices when it comes to SaaS planning: Focus. Saugatuck’s survey data indicate that most Finance executives are beginning SaaS implementation in specific functional areas. This type of focus enables straightforward implementation of SaaS that fits into existing processes and operations, while enabling improved efficiencies that in turn enable more improvement in other systems and processes. The Finance executives surveyed for this report provided data and insight regarding where they plan to focus their SaaS acquisition efforts now and through 2009. Figure 6 below presents the data. Figure 6: Finance Executives’ Intentions Regarding SaaS Application Acquisition through 2009 Please indicate when your company plans to deploy a SaaS solution in each of the following Finance application categories: Payroll Electronic billing and payment presentation Cash management eCommerce Core financial accounting (GL, AR, AP) ERP Business intelligence Budgeting/forecasting Incentive compensation management Tax Management (Sales) Compliance and risk management Tax Management (State) Corporate performance management Project costing Supply chain
Percentage of Respondents Indicating In Use or Implementing by YE 2009
64% 28% 24% 23% 19% 18% 19% 17% 16% 15% 16% 15% 13% 11% 11%
Source: Saugatuck Technology Inc. and FERF, 2008 web-based survey of FEI membership
We do not suggest that all Finance organizations will, or should follow these intentions. All enterprises and Finance organizations face different needs and challenges, and have different investment priorities and budgets. Knowing peers’ patterns of SaaS acquisition and implementation, however, will provide Finance executives with useful insight regarding common and best practices.
© 2009 Saugatuck Technology Inc. and FERF
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SaaS and Core Finance Effectiveness—An FEI Executive Summary Report
Learn. Even with a plurality of Finance executives indicating high awareness and multiple SaaS deployments, a relatively high percentage of the executives responding to our survey still express a need or desire to learn more. Bad investments tend to be made when we don’t know enough, especially when we don’t know what we don’t know. Turn to peers, your IT organization, industry associations, and SaaS providers themselves for more information on how and where SaaS can be, and is, used in your type of firm and Finance organization. Prioritize. What areas of Finance are most in need of improvement – and in what time frames? As noted above, budgets and priorities differ widely. Focusing on simple tasks and functions may provide the easiest initial entry into SaaS, but may not yield the strategic levels of improvement that most Finance executives seek. Coordinate. Silo’d SaaS is at least as costly to manage as silo’d applications, and may increase the costs and complexity of Finance systems due to discrepancies and variances between SaaS providers’ technologies, service level agreements, and other factors. While a minority of Finance executives in this survey indicate they are turning to SaaS for improved integration among and between systems, an improved ability for Finance to coordinate and collaborate should be a key part of SaaS evaluation. Negotiate. The concerns expressed in Figure 4 above regarding SaaS must be addressed in vendor negotiation. We strongly suggest involving enterprise Legal departments or outside counsel in SaaS negotiations. Saugatuck has developed a series of SaaS provider negotiation guidelines, including best practices in negotiating and understanding service level agreements. We invite you to contact Saugatuck for more information on these. More information is available by visiting our web site at www.saugatech.com/research.htm Govern. SaaS requires governance within Finance and between Finance and the rest of the enterprise. Finance will not be able to fulfill its leadership role without SaaS reaching out to key reporting and analysis systems throughout the enterprise. Policies and practices are required to make this work. All the efficiencies gained with SaaS can disappear without adequate governance by Finance. Saugatuck has developed a series of insights on governance of various aspects of IT, including SaaS. More information is available by visiting our web site at www.saugatech.com/research.htm In sum, SaaS is a viable means of improving Finance’s abilities to deliver value to the enterprise, including traditional, core Finance systems and operations. Finance executives worldwide, including FEI members, are seeking and implementing SaaS to help overcome the costly gaps between what the enterprise needs from them, and what their current systems are able to deliver.
© 2009 Saugatuck Technology Inc. and FERF
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SaaS and Core Finance Effectiveness—An FEI Executive Summary Report
A PPENDIX : R ESEARCH Since 2002, Saugatuck has performed a series of user executive and vendor executive research programs, including web-based surveys, telephone interviews, and briefings, on the most disruptive and influential IT developments in the marketplace, including: IT Virtualization, cloud computing, Software-as-a-Service, and Open Source software. In addition, Saugatuck annually surveys more than 3,000 business and IT executives as part of its annual user IT trends research program. This report presents key analysis and insights developed from a Finance-executivefocused program developed for and coordinated with the FEI. This FEI-specific program included a web survey that yielded 150 qualified user Finance executive respondents from FEI membership; supplemented by interviews with 10 user enterprise executives with SaaS experience. The demographics of the FEI members participating in the survey are as follows: Respondent Company Sizes Under 10 employees 10 to 99 employees
3% 24%
100 to 499 employees
32%
500 to 999 employees
12%
1,000 to 4,999 employees
18%
5,000 to 24,999 employees
9%
Over 25,000 employees
4%
Respondent Titles
Less than $100 million
55%
$100 million to $499 million
21%
$500 million to $1 billion
7%
$1 billion to $5 billion
9%
Greater than $5 billion
7%
Respondent Industries Manufacturing
16%
Professional Services
7%
Utilities & Transportation
5%
Media/Entertainment
2%
Healthcare/Life Sci
8%
High-Technology
22%
2%
Government/Public Sector
4%
9%
Retail/Wholesale/Distribution
8%
Energy/Mining
4%
Financial Services
15%
Other
9%
Corporate CFO
58%
VP Finance
12%
Corporate Controller
12%
Treasurer
1%
Divisional/Regional CFO
7%
Divisional/Regional Controller Other
© 2009 Saugatuck Technology Inc. and FERF
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CONTINUOUS RESEARCH SERVICES (CRS) •
•
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