Hackett: CFO.com, "Faulty Forecasts on a Roll"
July 16 2008 - 9:30AM
Business Wire
Faulty forecasts have been the downfall of many CFOs. Last year the
retirement of Motorola's finance chief, David Devonshire, coincided
with the technology company dropping its revenue projections by a
billion dollars in the first quarter. At Ericsson, the
telecommunications giant, the CFO departed last October after
profits came in short and share prices fell by 30 percent. Despite
such consequences, companies are continuing to struggle with
accurate forecasts � both internally and in the numbers they report
to Wall Street. New research from The Hackett Group, a business
consultancy, finds that two-thirds of 70 surveyed U.S. and European
companies are missing their forecasted earnings by at least 6
percent, up to a high of 30 percent. Click Here to Link to Full
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http://www.thehackettgroup.com/about/alerts.jsp About The Hackett
Group The Hackett Group, Inc. (NASDAQ: HCKT), a global strategic
advisory firm, is a leader in best practice advisory, benchmarking,
and transformation consulting services, including shared services,
offshoring and outsourcing advice. Utilizing best practices and
implementation insights from more than 4,000 benchmarking
engagements, executives use Hackett's empirically based approach to
quickly define and prioritize initiatives to enable world-class
performance. Through its REL brand, Hackett offers working capital
solutions focused on delivering significant cash flow improvements.
Through its Hackett Technology Solutions group, Hackett offers
business application consulting services that helps maximize
returns on IT investments. Hackett has worked with 2,700 major
corporations and government agencies, including 97% of the Dow
Jones Industrials, 73% of the Fortune 100, 73% of the DAX 30 and
45% of the FTSE 100. Founded in 1991, The Hackett Group was
acquired by Answerthink, which was renamed The Hackett Group in
2008. The Hackett Group has global offices in the United States,
Europe and India. More information on The Hackett Group is
available: by phone at (770) 225-7300; by e-mail at
info@thehackettgroup.com; or on the Web at www.thehackettgroup.com.
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