Adding Insight to Finance
Using analytics to improve public sector financial management
Reprinted with permission by the Association of Government Accountants (AGA).
In today's data driven world, distilling management information from program data is not a trivial undertaking. It requires a mature understanding of the operational, regulatory and demographic environment and a firm command of the agency’s services portfolio.
In the Spring 2012 Journal of Government Financial Management, Vincent Dennis, principal, Deloitte Consulting LLP, explores the idea that providing an integrated view of critical business information across the enterprise can help public sector organizations more effectively manage scarce resources – fiscal and human capital – in support of improved citizen services and mission performance.
Finance analytics can present public agencies with a suite of capabilities to help execute their charters more efficiently and effectively. In a future of fiscal austerity, the agencies that harness their analytics potential are more likely to gain a competitive advantage.