By Jason Miller
October 15, 2018
Federal chief financial officers are right in the middle of two big technological trends—the cloud and data analytics.
Look no further than the President’s Management Agenda. Of the 14 management priorities, CFOs easily have a major role in half of them.
Let’s just look at one of them–federal IT spending transparency. The managing partners are three CIOs and three CFOs.
The goals under federal IT spending transparency focus on implementing the Technology Business Management to improve business outcomes, to increase efficiency of IT investments and to enable IT benchmarking.
All three of these are about collecting data, understanding data and then putting that data to use to make decisions.
At the same time, there is a lot of desire and opportunity to make better use of data in the financial management community.
A 2017 survey by the Association of Government Accountants found 44 percent of CFOs who responded are using data and evidence to make decisions. Additionally only 14 percent of the CFO respondents said they see their office as providing analytical support to the agency, while 25 percent said they see their office as providing mostly compliance and 21 percent said their office is providing mostly transactional services.
As the need for continued integration of data and technology drives toward better decision making, agencies need to consider how they design, implement and utilize tools in support better financial management.
The Changing Role of the CFO
Data Access and the Cloud
Workforce of the Future
Listen to the full show:
Article via FederalNewsNetwork.com/Picture via GSMA.com
No responses yet