Governmentwide, agencies are grappling with how to make financial reporting better. And of course technology has a lot of promise for that.
At the Department of Health and Human Services' Program Support Center, the financial office is looking at robotic process automation (RPA) and blockchain to improve transparency and privacy around grants management, explains Acting HHS PSC Chief Financial Officer Mike Peckham in a discussion of the financial management modernization landscape and some best practices to navigate it.
Plus, the efficiencies brought on through these technologies enable the agency to be more accountable to stakeholders. Risk management and providing the ability to seamlessly merge data across different systems also are key, note OneStream Software Vice President Michael Germaine and Grant Thornton Managing Director Priya Mhatre.