Federal Government Demands Digital Overhaul for CFOs, Workiva Positioned as Key Solution
Workiva, the leading cloud platform for integrated reporting, emerges as a key solution for federal agencies following a new executive order mandating financial system consolidation. The order, issued March 25, 2025, requires agencies to consolidate core financial systems within 180 days to combat fraud, waste, and abuse.
As the only financial reporting and GRC platform approved by the U.S. Treasury's FM QSMO, Workiva addresses critical challenges in federal financial reporting. Currently, 25% of Federal CFO Act agencies received either Qualified audit opinions or Disclaimers in FY 2024, highlighting significant reporting issues.
Workiva's platform offers key features including:
- Connection to over 100 source systems
- Real-time data updates
- Automated workflows
- Detailed audit trails
- FedRAMP certification for security
Workiva, la principale piattaforma cloud per il reporting integrato, si afferma come soluzione chiave per le agenzie federali in seguito a un nuovo ordine esecutivo che impone la consolidazione dei sistemi finanziari. L'ordine, emesso il 25 marzo 2025, richiede alle agenzie di unificare i sistemi finanziari principali entro 180 giorni per combattere frodi, sprechi e abusi.
Essendo l'unica piattaforma finanziaria e GRC approvata dal FM QSMO del Dipartimento del Tesoro degli Stati Uniti, Workiva affronta le sfide critiche nel reporting finanziario federale. Attualmente, il 25% delle agenzie soggette al CFO Act federale ha ricevuto opinioni di revisione qualificate o disclaimers nel FY 2024, evidenziando problemi significativi nel reporting.
La piattaforma di Workiva offre funzionalità chiave tra cui:
- Connessione a oltre 100 sistemi di origine
- Aggiornamenti dati in tempo reale
- Flussi di lavoro automatizzati
- Tracce di audit dettagliate
- Certificazione FedRAMP per la sicurezza
Workiva, la plataforma líder en la nube para reportes integrados, se presenta como una solución clave para las agencias federales tras una nueva orden ejecutiva que exige la consolidación de sistemas financieros. La orden, emitida el 25 de marzo de 2025, requiere que las agencias consoliden los sistemas financieros principales en un plazo de 180 días para combatir el fraude, el desperdicio y el abuso.
Como la única plataforma financiera y de GRC aprobada por el FM QSMO del Tesoro de EE.UU., Workiva aborda desafíos críticos en el reporte financiero federal. Actualmente, el 25% de las agencias bajo la Ley CFO Act recibieron opiniones calificadas o disclaimers en el año fiscal 2024, lo que destaca problemas significativos en los reportes.
La plataforma de Workiva ofrece características clave que incluyen:
- Conexión con más de 100 sistemas fuente
- Actualizaciones de datos en tiempo real
- Flujos de trabajo automatizados
- Rastros de auditoría detallados
- Certificación FedRAMP para seguridad
Workiva는 통합 보고를 위한 선도적인 클라우드 플랫폼으로, 재무 시스템 통합을 의무화하는 새로운 행정명령에 따라 연방 기관의 핵심 솔루션으로 부상하고 있습니다. 2025년 3월 25일 발행된 이 명령은 사기, 낭비, 남용을 방지하기 위해 180일 이내에 핵심 재무 시스템을 통합할 것을 요구합니다.
미국 재무부 FM QSMO가 승인한 유일한 재무 보고 및 GRC 플랫폼인 Workiva는 연방 재무 보고의 주요 문제를 해결합니다. 현재 연방 CFO 법 적용 기관의 25%가 2024 회계연도에 한정의견 또는 의견거절을 받아 심각한 보고 문제를 드러내고 있습니다.
Workiva 플랫폼은 다음과 같은 주요 기능을 제공합니다:
- 100개 이상의 소스 시스템 연결
- 실시간 데이터 업데이트
- 자동화된 워크플로우
- 상세한 감사 추적
- 보안을 위한 FedRAMP 인증
Workiva, la plateforme cloud leader pour le reporting intégré, apparaît comme une solution clé pour les agences fédérales suite à un nouvel ordre exécutif imposant la consolidation des systèmes financiers. Cet ordre, publié le 25 mars 2025, exige que les agences consolident les systèmes financiers principaux dans un délai de 180 jours afin de lutter contre la fraude, le gaspillage et les abus.
Unique plateforme financière et de GRC approuvée par le FM QSMO du Trésor américain, Workiva répond aux défis majeurs du reporting financier fédéral. Actuellement, 25 % des agences soumises au CFO Act fédéral ont reçu des opinions d'audit qualifiées ou des disclaimers pour l'exercice 2024, soulignant des problèmes importants de reporting.
La plateforme Workiva propose des fonctionnalités clés telles que :
- Connexion à plus de 100 systèmes sources
- Mises à jour des données en temps réel
- Flux de travail automatisés
- Traçabilité d'audit détaillée
- Certification FedRAMP pour la sécurité
Workiva, die führende Cloud-Plattform für integrierte Berichterstattung, erweist sich als wichtige Lösung für Bundesbehörden nach einer neuen Exekutivverordnung, die die Konsolidierung von Finanzsystemen vorschreibt. Die Verordnung, erlassen am 25. März 2025, verlangt von den Behörden, die Kernfinanzsysteme innerhalb von 180 Tagen zu konsolidieren, um Betrug, Verschwendung und Missbrauch zu bekämpfen.
Als die einzige vom US-Finanzministerium FM QSMO genehmigte Finanzberichts- und GRC-Plattform adressiert Workiva kritische Herausforderungen im föderalen Finanzberichtswesen. Derzeit erhielten 25 % der Bundesbehörden, die dem CFO Act unterliegen, im Geschäftsjahr 2024 entweder qualifizierte Prüfungsurteile oder Versagungen, was erhebliche Berichtsprobleme aufzeigt.
Die Workiva-Plattform bietet wichtige Funktionen, darunter:
- Anbindung an über 100 Quellsysteme
- Echtzeit-Datenaktualisierungen
- Automatisierte Workflows
- Detaillierte Prüfpfade
- FedRAMP-Zertifizierung für Sicherheit
- Only financial reporting platform approved by U.S. Treasury's FM QSMO
- Mandatory implementation by federal agencies creates significant market opportunity
- Strategic positioning for government digital transformation initiatives
- None.
Insights
This executive order represents a substantial catalyst for Workiva, creating a government-mandated market opportunity with an aggressive timeline. The requirement for federal agencies to consolidate financial systems within 180 days of March 25th establishes an unprecedented urgency in government procurement cycles.
Critically, Workiva holds a unique competitive advantage as the only financial reporting and GRC platform approved by Treasury's FM QSMO. With 25% of Federal CFO Act agencies receiving either Qualified opinions or Disclaimers in FY 2024, there's demonstrable need across numerous large agencies.
The mandate's language requiring "exclusive use" of FM Marketplace solutions establishes a powerful forcing function - agencies must adopt approved solutions like Workiva's or face non-compliance. This creates a rare scenario where federal procurement obstacles may be temporarily reduced due to executive pressure.
While government sales cycles typically extend 12-18 months, this order compresses the timeline significantly. Agencies will likely prioritize vendors with existing government relationships, FedRAMP certification, and pre-approved status - all boxes Workiva checks.
The order's focus on fraud prevention also aligns perfectly with Workiva's audit trail and compliance capabilities, positioning their solution as directly addressing the executive branch's stated priorities rather than merely meeting technical requirements.
This executive order creates a clearly defined addressable market for Workiva's cloud-based compliance platform. The mandate establishes what amounts to a regulatory moat by requiring federal agencies to use only FM Marketplace solutions - where Workiva enjoys approved status.
The technical requirements outlined align perfectly with Workiva's core capabilities: data integration across disparate systems, real-time collaboration, comprehensive audit trails, and FedRAMP-certified security. These aren't just nice-to-have features but explicitly required functions under the order.
From an implementation perspective, Workiva's cloud platform offers significant advantages over legacy systems that would require lengthy on-premise deployments - particularly important given the constrained 180-day timeline agencies face.
The order's emphasis on eliminating manual processes directly addresses the pain points Workiva's automation capabilities solve. With 25% of CFO Act agencies receiving problematic audit opinions, the addressable opportunity spans multiple large departments with complex reporting requirements.
Workiva's unified data model provides a particularly compelling solution for agencies struggling with fragmented financial systems. The platform's ability to maintain a single source of truth while enabling cross-departmental collaboration addresses the core inefficiencies identified in the executive order.
EO Mandates Agencies Consolidate Core Financial Systems Within 180 Days of March 25, 2025
The executive order mandates financial system consolidation and the exclusive use of Financial Management Marketplace solutions. Federal agencies face inefficiencies in preparing critical reports like the Annual Financial Report and Budget Reports, due to manual processes, human error, and inadequate controls. These issues lead to inaccurate data, undermining trust, increasing the risk of a lack of transparency in how tax dollars are being used, and making audits costly. In FY 2024,
“This executive order represents more than just improving agency efficiency. It’s about rebuilding public trust in government financial management,” said Steve Soter, Vice President and Industry Principal at Workiva. “The administration is setting clear expectations, and agency CFOs who fail to adapt to these changes risk serious consequences. Workiva is uniquely positioned to be a critical partner in this pivotal moment. This order is a game changer, and the digital transformation it mandates will redefine the future of government financial operations for years to come.”
To comply with the executive order, CFOs of federal agencies must consolidate financial systems and exclusively use FM Marketplace solutions like Workiva. Agencies need the ability to extract data from a single source of truth and collaborate across departments to reduce the time spent publishing reports. Workiva's platform addresses the requirements by connecting over 100 source systems into a unified data model and real-time updates to eliminate data latency, automating workflows to enhance efficiency, enabling live collaboration across people and departments, providing a detailed audit trail that tracks all changes and data origins for compliance, and guaranteeing high security for sensitive financial data with its FedRAMP certification.
For CFOs and federal agencies, digital transformation is no longer optional. Cloud-based solutions like Workiva’s platform are a necessity, not a luxury.
Explore Workiva’s FM QSMO Marketplace listing here. Discover how Workiva can streamline and automate your financial reporting and assurance processes here.
About Workiva
Workiva Inc. (NYSE: WK) is on a mission to power transparent reporting for a better world. We build and deliver the world’s leading cloud platform for assured integrated reporting to meet stakeholder demands for action, transparency, and disclosure of financial and non-financial data. Workiva offers the only unified SaaS platform that brings customers’ financial, sustainability, and Governance, Risk, and Compliance (GRC) data and reporting together in a controlled, secure, audit-ready platform. Our platform simplifies the most complex reporting and disclosure challenges by streamlining processes, connecting data and teams, and ensuring consistency. Learn more at workiva.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250415728195/en/
Media:
Kim Caro
press@workiva.com
Source: Workiva
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