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The world of DoD finance is changing fast: How to prepare

November 16, 2020


In brief

The path ahead

Areas of focus for DoD finance organizations now

Big data analytics and reporting

Financial data is available at an unprecedented level across the Defense Department enterprise and widespread efforts to accomplish financial statement audits have done much to cleanse and consolidate that data. As Federal finance organizations continue automating routine accounting, control, and compliance tasks, they must shift their focus on value creation. Through enhanced dashboards and data analytics, DoD organizations can now take information to another level through more in-depth analysis, reporting and forecasting.

Finance robotics, machine learning, and applied intelligence

The standard to-do list of the finance shop will continue to shift dramatically as automated processes are adopted to reduce cost, improve productivity, and allow employees to use critical thinking and creativity to drive value. Moreover, predictive analytics tools will allow finance teams to exploit data and enable more impact analysis than has been possible with traditional historic analysis.

CFO at the table

Federal finance and budget leaders have long been responsible for producing the numbers and obtaining resources. But as the capabilities of financial management tools advance, that role will shift rapidly to have greater impact across the organization. Within the next decade, we expect DoD’s top tier of finance officers to be considered strategic enablers, going beyond a supportive role to a proactive one. Additionally, many jobs we consider today as ‘finance’ jobs will transition to something more like business partner positions where financial needs can be self-serviced.

Reskilling the workforce

Federal finance leaders will need to shift their hiring and talent development criteria so the next generation of finance managers can flourish in this expanded role. Soft skills, such as collaboration and communication, will be as vital as traditional hard skills are today. As the DNA of finance talent pools evolve, Federal finance leaders will need to establish and cultivate hubs of deep expertise.

Next generation ERP

Technology advancement will continue to accelerate, so finance leaders will need to leverage opportunities to improve service and reduce costs through adoption of new technologies and the modernization of ERP systems. For example, migrating ERP operations to the cloud and employing next-generation ERP capabilities will help them improve financial capability, timeliness, and financial compliance.

Steps forward


Reduction in exception processing times


Fewer hours per year dedicated to IDoc exception processing


Per year in cost savings

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