For years, organizations have been on the quest for a financial management Holy Grail—a single source of truth for accurate reporting and budget planning. However, the reality is that financial information often resides in disconnected spreadsheets and applications, leading to cumbersome and time-consuming data management.

According to Gartner's research, human error in finance functions leads to approximately 25,000 hours of avoidable rework, costing around $878,000 per year. This conflicts with the drive for organizational efficiency that most modern businesses prioritize. If improving employee productivity and performance are the primary objective for...