Accelerating financial innovation with AI in government

Discover how an innovative approach to managed services is helping agencies enhance their financial processes and maximize value

AI enabled finance service delivery

Rapid changes amid mounting challenges are leaving many finance teams behind. Here’s how leading organizations are catching up.

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Navigating today’s finance issues

In the current environment characterized by constant volatility, leaders encounter numerous challenges, including escalating costs, swift technological advancements, shortages of skilled talent, intense competition, and more. This perpetual state of change poses particular complexities for finance teams as they strive to navigate these obstacles.

Indeed, finance leaders are under immense pressure to reduce costs, ensure regulatory compliance, inform strategic investments, and deliver timely insights. At the same time, they’re being asked to support innovation and leverage new technologies—for both the agency and their own operations.

Yet budget, bandwidth, and talent challenges continue to be a drag on innovation and growth. Additionally, is it fair to expect that finance teams can close the books, manage transactions and regulators —and find time to pioneer new AI capabilities?

Instead, many organizations are moving to a modern managed services model to transform their finance operations.

Dive into our thinking:

AI enabled finance service delivery

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A new approach to solving 5 persistent finance challenges

The finance function is undergoing rapid change. New technology and data innovations offer transformative opportunities to improve processes, increase automation, and deliver new value. But these opportunities remain out of reach for many agencies as finance leaders struggle with 5 persistent challenges:

1

Rapidly changing environments that require finance to adapt and evolve as a partner

2

Rising costs for both the agency and their own finance operations—and a limited ability to invest in new solutions

3

Disparate systems and data that create persistent data problems and smother innovation efforts

4

Inadequate insights that hamper the agency’s ability to innovate, move faster, and stay competitive

5

Talent gaps as finance teams struggle to upgrade skills and source new people

Modern managed services: A path to agility and growth

To flip the script and move faster, many agencies are embracing modern managed services. They’re using this enhanced new service delivery model to elevate their key finance functions, resolve pain points, improve productivity and profitability, and accelerate growth. In the process, they’re nimbly bypassing many of their legacy roadblocks and getting access to leading-edge technologies, processes, and professionals that allow them to better navigate the ever-more-complex landscape.

Learn more about how AI is empowering finance teams

What sets apart good from great finance leaders? It's their ability to harness cutting-edge technology to drive efficiency and foster growth.

Begin your journey towards AI-driven success with KPMG Finance as a Service

Our finance professionals design and deploy solutions that meet each client’s unique needs in the three core finance functions: transactions, financial close, and financial planning and analysis. These solutions are embedded with the latest AI, cloud, and enterprise data capabilities from the start. Every custom solution leverages our significant functional and industry experience.
 

We then fully manage these core operations on an ongoing basis, working closely with clients to continuously optimize costs, generate impactful insights, and increase productivity and profitability.

KPMG Intelligent Close

Harness the digital, analytical, and AI capabilities that can move your team from accountants to value creators.

KPMG Intelligent Forecasting

Discover the industry-leading, AI-powered solution that dramatically improves the speed, accuracy, and value of your financial forecasts and insights.

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Unlock the full potential of AI and other leading technologies by building a strong foundation of core capabilities that are tightly connected across the organization.

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Transform your business functions with technology-enabled, outcome-driven transformation journeys, guided by skilled KPMG teams.

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Meet our team

We can help accelerate and reduce the risk of Finance’s transition from a reactive function to a proactive asset that can help support decision-making, provide predictive insights, and solve business and public policy challenges.

Image of Joe Nave
Joe Nave
Principal, Federal Finance Transformation Leader, KPMG US
Image of Yash Acharya
Yash Acharya
Principal, Advisory, KPMG LLP

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