The excerpt below was taken from an article featured by Forbes.
Read the full article here.
The CFO of a Global 100 financial services company hires only the best and brightest MBAs from the top-ranked business schools. After all, they will function as the company’s intelligence center. They use state-of-the-art technology to generate management reports intended to optimize revenue, improve margins and increase shareholder value.
There is a common misperception that knowledge work is unique. Executives are reluctant to accept that roughly two-thirds of activities in the office are similar and repetitious.
In practice, however, the technology is undercut by human activity. Finding useful insights in these reports is like finding needles in a very costly haystack. Although the company has fewer than 100,000 employees, the department generates more than 40,000 regularly scheduled management reports. Each costs from $2,000 to $80,000 annually. The total exceeds $300 million.
This finance department is hardly unique…
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