The Impact of the newly emerging field of Financial Data Quality Management (FDQM) on Group Reporting and Performance Management Processes

Overview

Data quality management could be regarded as the less glamorous end of the Reporting Supply Chain (RSC). After all, most of the attention and interest are lavished on the latest portal, reporting tool or dashboard. Yet, mismanagement or neglect of underlying balance information or interfaces can place the integrity of the whole process in jeopardy. In recent years, financial reporting processes have become intertwined with other key management processes such as budgeting, planning, forecasting, scorecarding and analytics to form a broader performance management platform sharing common data structures.