OMB recently established government-wide policies associated with financial systems modernization. In response, IBM looked at our own work in delivering financial management services, and developed a set of principles for how best to deploy financial systems in alignment with OMB’s goals. Our experience indicates that following these principles will result in both better financial systems for agencies, as well as better management and accountability for taxpayers.
Improving the cost, quality, and performance of financial management operations and systems is one of the Obama’s administration’s top management priorities. While the financial management community has made significant progress over the years, it continues to face challenges in meeting some of the basic standards for accounting and reporting.