Investor confidence in the accuracy of financial information pertaining to publicly traded companies determines the degree of investor confidence. Stakeholders expect such information to be transparent and reliable. Information that is in any way inaccurate or misleading may result in a downfall in stock prices and hurt reputations. Companies whose financial data are always found to be accurate attract and retain investors, and that influences their market standing positively.
Operational Efficiency - Precise data increases operational efficiency. It would facilitate streamlining of processes, hence reducing possibilities of committing mistakes and allows organizations to reap maximum output from the distribution of resources. In that case, teams will focus less on rectifying errors and rather more on analyzing and planning.