Optimising management of the public sector finance function
The Deloitte ‘Future Finance’ report presents what senior financial managers in government regard as the challenges and opportunities for delivering efficient and effective financial management in the near-to-long term. It also examines how the public sector finance function has evolved in an environment that has changed significantly over the past 10 years.
Public sector finance managers constantly face tension between short- and long-term priorities. Budgets, borrowings and taxation need to be balanced with support for economic growth, investment in infrastructure and increasing demands for public services. This balancing must take place in a climate of political and economic uncertainty and technological disruption.
Based on insights from senior government finance specialists in nine European countries (Austria, Denmark, Finland, Germany, Ireland, Luxembourg, Netherlands, Norway, and the UK) and on input from Deloitte subject matter experts, the report highlights a range of measures - from robotic process automation and blockchain, to accrual accounting and performance based budgeting - to drive efficient, effective, future-oriented finance functions.