Financial Transformation: Driving Innovation and Mission Performance
A goal of The President’s Management Agenda (PMA) is to build capacity in Federal financial management and through Federal financial assistance catalyze American industrial strategy. The PMA along with The American Rescue Plan Act (ARPA) injects new energy and funding into federal financial transformation, as federal chief information officers (CIOs) and chief financial officers (CFO) work to modernize financial management.
The U.S CFO Council, comprised of CFOs from the largest federal agencies, has a significant impact on how agencies achieve their IT, data integrity and security goals. To that end, the CFO Council is focused on six priority areas including, Workforce Modernization, the American Rescue Plan, Payment Integrity, Fiscal Management Transformation, Financial Data Transformation, and Enterprise Risk Management. Payment Integrity or reducing the risk of improper payments of government funds, is essential for effective stewardship of taxpayer resources and is vital to public trust in government institutions. The government provides more than $800 billion in financial assistance and grants annually and sometimes more during crisis. Having the right information and the capacity to address root causes are critical components. Automation and data analytics are key elements agencies can use to help mitigate payment integrity risks. Meanwhile, ARPA, provided $1 billion to boost agencies’ technology modernization efforts--more funding than agencies have ever received in the past. Agency leaders will need the right mix of technology and procedures to bring more accuracy and efficiency to the planning and budgeting process for this influx of funding.
Change is constant and new priorities will arise. This webinar will examine how government financial organizations can undergo a comprehensive transformation that will standardize business processes, tighten financial controls, enhance operational performance and drive efficiencies.
Join AFCEA Bethesda for this webinar on January 19, 2022, to hear federal financial executives discuss how agencies can apply the funding, best practices and technology needed to drive financial transformation across the government enterprise.