Skip to main content

Risk and finance departments bond over data quality

Sometimes, the C-level of a company can seem to be made up of competitors with completely different agendas and priorities. There are certain processes, however, that unite these leaders and demand immediate attention. According to Forbes contributor Steve Culp, data quality is one such area. He explained that a new software-company-sponsored report found chief financial officers (CFOs) and chief risk officers (CROs) both committed to the cause.

Integrating information is important and must be done both on budget and in a way that will not put the company in danger. According to Culp, CFOs and CROs are both beholden to external regulations mandating data consistency and can team up to comply with them.

He also explained that chief information officers (CIOs) could also take a hand directly in the data quality processes, stipulating that some companies have it each way. In the end, it is the result that matters - clean data that can help the firm and pass regulatory muster.

How companies actually go about building their information cleansing processes is up to the individuals involved. Business Daily contributor William Makatiani explained that firms must make sure the new program is a good fit with the existing "strategy and culture."ADNFCR-16001315-ID-800907864-ADNFCR