Modernizing State Budget Systems
This is a time of significant challenges for state budget officers and their deputies. With revenues continuing to decline at a time when demand for services is increasing the ability for states to adequately budget and forecast both income and expenditures is stretched beyond the limits of both the personnel and the supporting systems.
Add to that the fact that many states are facing an accelerating loss of experienced staff, the “brain drain,” as the baby boom generation begins to retire in large numbers. In addition to this loss most states are working with aging legacy systems that are poorly integrated, poorly documented and soon to be poorly supported.
In addition to these sustainability challenges, budget shortfalls give rise to a separate problem: the demand for a major rethinking and extensive analysis of proposed agency budgets. In the past, the lack of integration of legacy systems was inconvenient but not fatal. This is no longer the case. The demand for increasingly broad and detailed analysis requires that budget development, publication, analysis, and execution be integrated to a degree that legacy systems do not support.
Consequently, as a state budget official you may be seeking ways to modernize your state‟s budget systems. This modernization requires undertaking enterprise-wide changes to both budget processes and budget technology. Moreover, such changes should be introduced into a statewide budgeting environment far more complex than that faced by even the largest private-sector organizations.
Learn about two basic approaches to software selection for a Statewide budget modernization effort; procuring a single Commercial Off-The-Shelf (COTS) package or selecting a COTS best-of-breed solution that blends different vendor packages. Download the point of view to learn about the challenges and benefits.