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Are public sector finance leaders
lagging their private sector
peers? Accenture’s research
suggests nothing could be
Copyright © 2019 Accenture. All rights reserved. 2
FURTHER FROM
THE TRUTH.
Finding
new value
across the
enterprise
and beyond
Planning
ahead
for volatile
future
scenarios
Providing
insight on
performance
in real-time
Driving
transformation
across the entire
organization
Exploring
disruptive
technologies
as strategic
enablers
Public sector finance
leaders are focusing on:
Copyright © 2019 Accenture. All rights reserved. 3
81% 75% 71% 68% 66%
Copyright © 2019 Accenture. All rights reserved. 4
Their ambition to help lead their
organization’s technology strategy
WHAT STANDS OUT?
of public sector finance
leads are providing
additional insight to support
strategic decision-making
Copyright © 2019 Accenture. All rights reserved. 5
64%
these leaders recognize the need for transformation and
are becoming increasingly strategic in their approach.
Despite several obstacles,
Copyright © 2019 Accenture. All rights reserved. 6
Time Budget Skills
lack of
bandwidth
limited budget to
invest in change
rapidly changing
talent profile
Copyright © 2019 Accenture. All rights reserved. 7
Public sector finance leaders must vie for more in order to
create the broader role they want.
ADDITIONAL
RESOURCES ARE KEY
In order for this to become a reality, they must build more compelling business
cases for investment as well as explore innovative new funding models.
How will they do this?
Copyright © 2019 Accenture. All rights reserved. 8
Driving
strategic results through
data and analytics
Implementing
automation despite financial
and people challenges
Recruiting
a new wave of
talent and skills
Finance leaders must prioritize three key strategies:
Copyright © 2019 Accenture. All rights reserved. 9
Driving strategic
results with data
Public sector finance leaders are
harnessing data to increase their
enterprise-wide influence and support
their organizations’ strategic ambitions.
These leaders must build on the
momentum of data analytics and focus
especially on defining the return on
investment (ROI) from digital investments.
47%
53%
Predicting the future
Reporting the past
How do public sector
finance teams use data tools?
Copyright © 2019 Accenture. All rights reserved. 10
Nicola Smith, Managing Director, Accenture
“Finance teams have put in
place ERP systems to give them
one version of the truth, but
they’re not yet sure what they
should be doing with the data
to enable their organizations
to turn a corner.”
Copyright © 2019 Accenture. All rights reserved. 11
Fighting the fear
of automation
Many public sector finance leaders have
bold plans for automation, as technology-
enabled efficiency measures will help
these leaders transition into a more
strategic role.
To realize this ambition, the public sector
must first overcome several intimidating
challenges around automation—even
more so than their private sector peers.
54%
40%
38%
52%
52%
38%
52%
32%
36%
45%
43%
31%
Copyright © 2019 Accenture. All rights reserved. 12
What issues are barriers to automation?
Concern about information security
Employee resistance to working
with non-human ‘colleagues’
Difficult in standardizing enterprise data or
agreeing upon a single ‘version of the truth’
Established executives are not incentivized
to take on unfamiliar tasks and responsibilities
Technical errors and bugs
There is no workable process in place
to support an automated solution
Public Sector Private Sector
Copyright © 2019 Accenture. All rights reserved. 13
believe the traditional finance
talent profile needs to change
quickly and drastically73%
of traditional finance tasks may
be carried out by technology
within three years41%
Copyright © 2019 Accenture. All rights reserved. 14
It’s vital to deal with the fear
that automation means the loss
of jobs. We need to demonstrate
that job losses didn’t happen as
expected in either the private
sector, or in the public sector
where automation has been
deployed already.”
Bill Kilmartin, North America Industry Lead, Finance & Administration, Accenture
“
Copyright © 2019 Accenture. All rights reserved. 15
Catching up on
talent and skills
Ensuring that they have access to the right skills
is a growing challenge for public sector finance
leaders, but the right talent is essential to drive
enterprise-wide cultural change.
Finance leaders are thinking hard about how
to build the capabilities they need, often
considering even more radical approaches than
their counterparts in business. They must think
differently within the confines of government
recruiting processes and standards.
The most critical skills for junior
finance professionals over the
next three years
Copyright © 2019 Accenture. All rights reserved. 16
51%
44%
39%
Analytical skills
Ability to innovate
Financial modeling
Copyright © 2019 Accenture. All rights reserved. 17
IT’STIMETO
REIMAGINE&
STRATEGIZEFinance can enable digital transformation
across the organization by focusing on
digital ROI, automation, data insight,
public value and funding.
Copyright © 2019 Accenture. All rights reserved. 18
For more information:
BERNARD LE MASSON
Global Managing Director, Health & Public Service, Management Consulting, Accenture
BILL KILMARTIN
North America Industry Lead, Finance & Administration, Accenture
NICOLA SMITH
Managing Director, Accenture
@BernardleMasson in/bernardlemasson
@BillKilmartin1 in/bill-kilmartin-981a865
in/nicola-smith
bernard.le.masson@accenture.com
william.kilmartin@accenture.com
n.j.smith@accenture.com
www.accenture.com

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Redefining Public Sector Finance in a Digital World - US

  • 1.
  • 2. Are public sector finance leaders lagging their private sector peers? Accenture’s research suggests nothing could be Copyright © 2019 Accenture. All rights reserved. 2 FURTHER FROM THE TRUTH.
  • 3. Finding new value across the enterprise and beyond Planning ahead for volatile future scenarios Providing insight on performance in real-time Driving transformation across the entire organization Exploring disruptive technologies as strategic enablers Public sector finance leaders are focusing on: Copyright © 2019 Accenture. All rights reserved. 3 81% 75% 71% 68% 66%
  • 4. Copyright © 2019 Accenture. All rights reserved. 4 Their ambition to help lead their organization’s technology strategy WHAT STANDS OUT?
  • 5. of public sector finance leads are providing additional insight to support strategic decision-making Copyright © 2019 Accenture. All rights reserved. 5 64%
  • 6. these leaders recognize the need for transformation and are becoming increasingly strategic in their approach. Despite several obstacles, Copyright © 2019 Accenture. All rights reserved. 6 Time Budget Skills lack of bandwidth limited budget to invest in change rapidly changing talent profile
  • 7. Copyright © 2019 Accenture. All rights reserved. 7 Public sector finance leaders must vie for more in order to create the broader role they want. ADDITIONAL RESOURCES ARE KEY In order for this to become a reality, they must build more compelling business cases for investment as well as explore innovative new funding models.
  • 8. How will they do this? Copyright © 2019 Accenture. All rights reserved. 8 Driving strategic results through data and analytics Implementing automation despite financial and people challenges Recruiting a new wave of talent and skills Finance leaders must prioritize three key strategies:
  • 9. Copyright © 2019 Accenture. All rights reserved. 9 Driving strategic results with data Public sector finance leaders are harnessing data to increase their enterprise-wide influence and support their organizations’ strategic ambitions. These leaders must build on the momentum of data analytics and focus especially on defining the return on investment (ROI) from digital investments. 47% 53% Predicting the future Reporting the past How do public sector finance teams use data tools?
  • 10. Copyright © 2019 Accenture. All rights reserved. 10 Nicola Smith, Managing Director, Accenture “Finance teams have put in place ERP systems to give them one version of the truth, but they’re not yet sure what they should be doing with the data to enable their organizations to turn a corner.”
  • 11. Copyright © 2019 Accenture. All rights reserved. 11 Fighting the fear of automation Many public sector finance leaders have bold plans for automation, as technology- enabled efficiency measures will help these leaders transition into a more strategic role. To realize this ambition, the public sector must first overcome several intimidating challenges around automation—even more so than their private sector peers.
  • 12. 54% 40% 38% 52% 52% 38% 52% 32% 36% 45% 43% 31% Copyright © 2019 Accenture. All rights reserved. 12 What issues are barriers to automation? Concern about information security Employee resistance to working with non-human ‘colleagues’ Difficult in standardizing enterprise data or agreeing upon a single ‘version of the truth’ Established executives are not incentivized to take on unfamiliar tasks and responsibilities Technical errors and bugs There is no workable process in place to support an automated solution Public Sector Private Sector
  • 13. Copyright © 2019 Accenture. All rights reserved. 13 believe the traditional finance talent profile needs to change quickly and drastically73% of traditional finance tasks may be carried out by technology within three years41%
  • 14. Copyright © 2019 Accenture. All rights reserved. 14 It’s vital to deal with the fear that automation means the loss of jobs. We need to demonstrate that job losses didn’t happen as expected in either the private sector, or in the public sector where automation has been deployed already.” Bill Kilmartin, North America Industry Lead, Finance & Administration, Accenture “
  • 15. Copyright © 2019 Accenture. All rights reserved. 15 Catching up on talent and skills Ensuring that they have access to the right skills is a growing challenge for public sector finance leaders, but the right talent is essential to drive enterprise-wide cultural change. Finance leaders are thinking hard about how to build the capabilities they need, often considering even more radical approaches than their counterparts in business. They must think differently within the confines of government recruiting processes and standards.
  • 16. The most critical skills for junior finance professionals over the next three years Copyright © 2019 Accenture. All rights reserved. 16 51% 44% 39% Analytical skills Ability to innovate Financial modeling
  • 17. Copyright © 2019 Accenture. All rights reserved. 17 IT’STIMETO REIMAGINE& STRATEGIZEFinance can enable digital transformation across the organization by focusing on digital ROI, automation, data insight, public value and funding.
  • 18. Copyright © 2019 Accenture. All rights reserved. 18 For more information: BERNARD LE MASSON Global Managing Director, Health & Public Service, Management Consulting, Accenture BILL KILMARTIN North America Industry Lead, Finance & Administration, Accenture NICOLA SMITH Managing Director, Accenture @BernardleMasson in/bernardlemasson @BillKilmartin1 in/bill-kilmartin-981a865 in/nicola-smith bernard.le.masson@accenture.com william.kilmartin@accenture.com n.j.smith@accenture.com www.accenture.com