Why Finance Teams Still Struggle to Use Their Data Effectively

Many finance organisations assume that better insight comes from collecting more data. In reality, most already hold more information than they can comfortably manage. The real challenge lies in turning existing data into something practical and timely that supports confident decision making. Despite significant investment over the years, many finance teams still find it difficult to convert raw information into insight when they need it most.

A recent Experian survey highlights the scale of this problem. Seven in ten businesses reported that they struggle to unlock the true value of their data because they lack proper control and governance. This often leads to inconsistent or untrusted information that weakens operational performance and customer engagement. The survey gathered views from 1,000 data practitioners, with the majority agreeing that data management should be a shared responsibility across departments. While this approach makes clear sense, only a small fraction of organisations have adopted it in practice.

This gap reflects a deeper issue related to user confidence. Over time, data management has become increasingly complex, filled with technical tools and specialist terminology that many business users feel removed from. Concepts such as data warehouses, OLAP cubes or ETL processes often act as barriers rather than enablers. As a result, finance professionals frequently rely on IT teams for answers, even when they would prefer to explore and interpret the data themselves.

A lack of confidence has real consequences. When business users are unable to interact with data directly, reporting slows down and opportunities slip by. Requesting a report early in the week and receiving it days or weeks later no longer matches the speed at which finance teams need to operate. Modern organisations require the ability to test hypotheses, adapt quickly and plan using real time information.

To achieve this, organisations need a stable and scalable data foundation that draws information together into a single accurate view. Without this, even experienced analysts may miss important details or make decisions based on incomplete insight. Equally important is giving users intuitive tools that allow them to access, question and analyse data independently at the moment decisions need to be made.

This is where solutions like Connexica’s CXAIR provide real value. By bringing data from across the organisation into one consistent and up to date view, CXAIR helps finance teams ask clearer questions, explore information confidently and uncover insight without relying on IT for every request. It enables finance professionals to focus on understanding the business rather than navigating technical complexity.

By making data accessible to those who understand the organisation best, finance teams can move beyond slow reporting cycles and start making decisions based on accurate and timely information. Connexica’s CXAIR supports this shift and helps organisations build a genuinely data driven culture where users can plan, react and improve performance with confidence.