Having worked in FS for many years I can tell you the problem quite easily.
Managers' interests and departments' interests rarely coincide with the interests of the organisation as a whole.
A manager who is given a task and achieves it with the minimum of fuss, using the least resources just plods along from year to year going nowhere (not me, I was a techie and architect.)
A manager who is fundamentally bad at his or her job and constantly makes a fuss and demands more and more resources to finish the job and more and more time in meeting with senior management to discuss the way forward, not only increases his or her profile, but also the size of his or her empire.
More efficient usage of information would require less underlings and less fuss. Therefore the efforts would go largely unnoticed.
Many incompetant managers and departments can get on in this way quite unintentionally. Slightly more canny managers can deliberately engineer it to be so.
Problem solved. Where's my fee ? :)