In a survey of 168 finance executives, CFO IT asked about the state of IT as used by corporate finance departments. Out of a list of 14 finance-specific technologies, it was found that only 2 are widely used: spreadsheets and basic budgeting and planning systems. "Spreadsheet hell," a term often invoked by software companies - and, occasionally, by customers - is not, as of yet, driving many CFOs to make substantial investments in newer forms of IT. Nor have the demands of regulations from the Sarbanes-Oxley Act of 2002, even though many of the more-complex rules focus on internal controls, an aspect of corporate operations often inextricably tied to technology.
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