Finance-as-a-Service: A game-changer for federal agencies

Finance leaders at federal agencies are increasingly being asked to do more with less. Not only are they expected to manage with tighter budgets and reduced headcounts, but they must also meet a growing list of reporting requirements while operating with aging technology infrastructure and time-consuming, manual processes.

Given the nature of these competing constraints, it’s time for agencies to consider a new approach: Finance-as-a-Service (FaaS). It provides outsourced financial operations, tools, and expertise that can help solve many of these immediate needs in a practical and cost-effective way.

FaaS provides access to experienced finance professionals with functional government and accounting experience to provide the talent you need to comply with your interim and annual financial close and reporting requirements, all while helping to minimize the total cost of ownership to get there.

In addition to addressing workforce challenges, FaaS also provides a way for agencies to modernize their finance functions with leading technologies—without the need for painful infrastructure upgrades, in-house maintenance, or long-term commitments.

Addressing these challenges in an effective, cost-efficient way can also free up finance to move beyond its traditional role and become a more strategic partner within the agency. Using FaaS to complete day-to-day accounting and financial reporting activities can allow your finance professionals to have more time to analyze data, provide valuable insights, and claim a seat at the table for the decision-making process in your agency.