Federal agency budgeting with BudgetSync Bookmark has been added
Federal agency budgeting with BudgetSync
Consolidate, automate, and modernize your federal agency budget
Each year, your agency likely goes through budget planning to manage and allocate resources in support of strategic goals. It's often a complex process that runs into many risks and challenges brought on by outdated spreadsheets, disparate systems, and manually prepared reports. Agencies need to make data-driven decisions and focus on fulfilling their missions, but how can you do that with siloed data and manual processes?
- Meet BudgetSync
- View the BudgetSync video
- A new era of federal agency budgeting
- BudgetSync in action
- Modernizing your budget system
BudgetSyncTM is designed to provide a framework for improving, streamlining, and modernizing the federal agency budgeting process. It integrates the planning, budgeting, and execution tracking stages into one cohesive, flexible system that delivers a comprehensive financial view. This enables your agency to:
- Integrate narratives and budget data to create ready-to-submit justification books
- Automate report templates and textual updates in lengthy budget documents
- Avoid version control issues
- Establish an audit trail
- Enforce business rules and guidelines through integrated data management controls
- Make more informed decisions
A new era of federal agency budgeting
BudgetSync is powered by IBM's Planning Analytics platform and reflects Deloitte's extensive experience in the public sector—like the common federal agency budgeting elements that are already built into the solution. With that as a foundation, we help configure a system that meets your agency's specific requirements; includes repeatable, interrelated processes; and helps save you time.
This advanced standard provides the tools, transparency, and confidence needed to prioritize, make, and support financial and resource decisions. You can also use built-in dynamic data visualizations to identify areas where budgets, plans, or execution are off track.
BudgetSync in action
A large federal intelligence agency had more than a dozen homegrown financial databases—each with a different level of accuracy and completeness—plus two separate processes for budget submission and execution reporting. Analysts spent many hours entering data and manipulating spreadsheets to create a consolidated view of the agency's spending.
The agency implemented BudgetSync and linked it to the accounting system, effectively eliminating additional data entry and improving accuracy and completeness. Now spending against budget can be tracked in near-real time and the annual actual execution reconciliation process time dropped from three weeks to one day.
Modernizing your budget system
Addressing budget planning and execution challenges involves implementing enterprise-wide financial requirements gathering, planning processes, and connecting technology solutions used by program control officers, comptrollers, agency resource managers, and all decision makers.
BudgetSync combines enterprise-wide availability, business process knowledge, data fidelity and transparency, and advanced reporting. Your agency stands to gain a lot from an integrated platform like ours: Expanded access to budget and requirements planning data, visibility into program performance against plans and budgets, stronger connections between agency resources and current and future strategies, and more.