Finance Transformation: Trends and Recommendations

This episode of Voices in Local Government is about how to redesign and improve financial processes, systems, and capabilities to achieve better outcomes for local governments and their communities.

Episode 38 of the Voices in Local Government podcast, hosted by Joe Supervielle, Jim McClurkin, Miriam Rayward, titled "Finance Transformation: Trends and Recommendations" was published on June 15, 2023 and runs 28 minutes.

June 15, 2023 ·28m · Voices in Local Government

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Summary

This episode of Voices in Local Government is about how to redesign and improve financial processes, systems, and capabilities to achieve better outcomes for local governments and their communities.

Episode Description

City and County government organizations face significant challenges, including budget constraints, changing regulations, and increasing demand for transparency and accountability. Finance transformation can help address these challenges by improving financial processes, increasing efficiency, and enhancing decision-making capabilities.

Jim McClurkin and Miriam Rayward explain how initial assessment, defining vision and objectives, developing a roadmap, engaging stakeholders, and implementing and monitoring progress, local government organizations can begin their finance transformation journey, including:

Integration across multiple functions, departments, and projects. HR, payroll, t+e, accounts payable, compliance, etc).
Talent and change management.
Analytics for real-time decision making instead of waiting until "budget season".
Tips on how to optimize processes with new technology

Resources

Free eBook: 4 Ways to Turn AP More Productive for Cities and Counties

ICMA's A Budgeting Guide for Local Government, Fourth Edition

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