{"id":837445,"date":"2025-04-15T09:01:41","date_gmt":"2025-04-15T13:01:41","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/federal-government-demands-digital-overhaul-for-cfos-workiva-positioned-as-key-solution\/"},"modified":"2025-04-15T09:01:41","modified_gmt":"2025-04-15T13:01:41","slug":"federal-government-demands-digital-overhaul-for-cfos-workiva-positioned-as-key-solution","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/federal-government-demands-digital-overhaul-for-cfos-workiva-positioned-as-key-solution\/","title":{"rendered":"Federal Government Demands Digital Overhaul for CFOs, Workiva Positioned as Key Solution"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Federal Government Demands Digital Overhaul for CFOs, Workiva Positioned as Key Solution<\/b><\/p>\n<p class=\"bwalignc\"><i>EO Mandates Agencies Consolidate Core Financial Systems Within 180 Days of March 25, 2025<\/i><\/p>\n<p>WASHINGTON&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nWorkiva, the world\u2019s leading cloud platform for assured integrated reporting, is the only financial reporting and Governance, Risk, and Compliance (GRC) platform approved by the <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fnewsroom.workiva.com%2Fpress-releases%2Fworkiva-approved-us-department-treasury-inclusion-financial-management-quality&amp;esheet=54238284&amp;newsitemid=20250415728195&amp;lan=en-US&amp;anchor=U.S.+Department+of+Treasury%26%238217%3Bs+Financial+Management+Quality+Service+Management+Office&amp;index=1&amp;md5=d9f5ee029f9fe6b38c4d367f057c3357\">U.S. Department of Treasury\u2019s Financial Management Quality Service Management Office<\/a> (FM QSMO). Workiva can help federal agencies comply with the March 25 executive order, <i>Protecting America\u2019s Bank Account Against Fraud, Waste, and Abuse<\/i>.\n<\/p>\n<p><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.whitehouse.gov%2Fpresidential-actions%2F2025%2F03%2Fprotecting-americas-bank-account-against-fraud-waste-and-abuse%2F&amp;esheet=54238284&amp;newsitemid=20250415728195&amp;lan=en-US&amp;anchor=The+executive+order&amp;index=2&amp;md5=716cb3de11684ce7a52ec67f8f5fc1fb\">The executive order<\/a> 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, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.fiscal.treasury.gov%2Freports-statements%2Ffinancial-report%2Ffinancial-management.html&amp;esheet=54238284&amp;newsitemid=20250415728195&amp;lan=en-US&amp;anchor=25%25+of+Federal+CFO+Act+agencies&amp;index=3&amp;md5=d65989381029e0170467dac1540f98fb\">25% of Federal CFO Act agencies<\/a> received either a Qualified audit opinion, indicating that the financial statements are mostly reliable but contain specific issues requiring attention, or a Disclaimer, meaning the auditor could not express an opinion due to insufficient information or access to form a judgment. The executive order highlights the serious threat of financial fraud, worsened by past underinvestment in technology and data access.\n<\/p>\n<p>\n\u201cThis executive order represents more than just improving agency efficiency. It\u2019s about rebuilding public trust in government financial management,\u201d said Steve Soter, Vice President and Industry Principal at Workiva. \u201cThe 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.\u201d\n<\/p>\n<p>\nTo 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<b> single source of truth<\/b> and collaborate across departments to reduce the time spent publishing reports. Workiva&#8217;s platform addresses the requirements by connecting <b>over 100 source systems<\/b> 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 <b>detailed audit trail<\/b> that tracks all changes and data origins for compliance, and guaranteeing high security for sensitive financial data with its <b>FedRAMP certification.<\/b><\/p>\n<p>\nFor CFOs and federal agencies, digital transformation is no longer optional. Cloud-based solutions like Workiva\u2019s platform are a necessity, not a luxury.\n<\/p>\n<p>\nExplore Workiva\u2019s FM QSMO Marketplace listing <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.google.com%2Furl%3Fq%3Dhttps%3A%2F%2Ftfx.treasury.gov%2Ffmqsmo%2Fmarketplace-catalog%2Fcommercial-vendors%2Fcarahsoft-technology-corp%26sa%3DD%26source%3Ddocs%26ust%3D1744038650163095%26usg%3DAOvVaw2t-vlD2yJf-Bd4p2CGfzue&amp;esheet=54238284&amp;newsitemid=20250415728195&amp;lan=en-US&amp;anchor=here&amp;index=4&amp;md5=f6a84559f901f7d277d7e3834f6fb8d2\">here<\/a>. Discover how Workiva can streamline and automate your financial reporting and assurance processes <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.workiva.com%2Fsolutions%2Fgovernment%23modal&amp;esheet=54238284&amp;newsitemid=20250415728195&amp;lan=en-US&amp;anchor=here&amp;index=5&amp;md5=e743b1768aa12d591a30556444212eb1\">here<\/a>.\n<\/p>\n<p><b>About Workiva<\/b><\/p>\n<p>\nWorkiva Inc. (NYSE: WK) is on a mission to power transparent reporting for a better world. We build and deliver the world\u2019s 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\u2019 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 <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fworkiva.com&amp;esheet=54238284&amp;newsitemid=20250415728195&amp;lan=en-US&amp;anchor=workiva.com&amp;index=6&amp;md5=e4907e93d2799ea37b2cac4bf009db4c\">workiva.com<\/a>.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250415728195r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250415728195\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250415728195\/en\/<\/a><\/span><\/p>\n<p>\nMedia:<br \/>\n<br \/>Kim Caro<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:press@workiva.com\">press@workiva.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America District of Columbia<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Technology Finance Fintech Professional Services Public Policy\/Government Business Software White House\/Federal Government Data Analytics Data Management<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250415728195\/en\/1373962\/3\/Workiva_Logo-Digital-Zesty-Neue.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Federal Government Demands Digital Overhaul for CFOs, Workiva Positioned as Key Solution EO Mandates Agencies Consolidate Core Financial Systems Within 180 Days of March 25, 2025 WASHINGTON&#8211;(BUSINESS WIRE)&#8211; Workiva, the world\u2019s leading cloud platform for assured integrated reporting, is the only financial reporting and Governance, Risk, and Compliance (GRC) platform approved by the U.S. Department of Treasury\u2019s Financial Management Quality Service Management Office (FM QSMO). Workiva can help federal agencies comply with the March 25 executive order, Protecting America\u2019s Bank Account Against Fraud, Waste, and Abuse. 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 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/federal-government-demands-digital-overhaul-for-cfos-workiva-positioned-as-key-solution\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Federal Government Demands Digital Overhaul for CFOs, Workiva Positioned as Key Solution&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-837445","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Federal Government Demands Digital Overhaul for CFOs, Workiva Positioned as Key Solution - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/federal-government-demands-digital-overhaul-for-cfos-workiva-positioned-as-key-solution\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Federal Government Demands Digital Overhaul for CFOs, Workiva Positioned as Key Solution - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Federal Government Demands Digital Overhaul for CFOs, Workiva Positioned as Key Solution EO Mandates Agencies Consolidate Core Financial Systems Within 180 Days of March 25, 2025 WASHINGTON&#8211;(BUSINESS WIRE)&#8211; Workiva, the world\u2019s leading cloud platform for assured integrated reporting, is the only financial reporting and Governance, Risk, and Compliance (GRC) platform approved by the U.S. Department of Treasury\u2019s Financial Management Quality Service Management Office (FM QSMO). Workiva can help federal agencies comply with the March 25 executive order, Protecting America\u2019s Bank Account Against Fraud, Waste, and Abuse. The executive order mandates financial system consolidation and the exclusive use of Financial Management Marketplace solutions. 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Workiva can help federal agencies comply with the March 25 executive order, Protecting America\u2019s Bank Account Against Fraud, Waste, and Abuse. 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 &hellip; Continue reading \"Federal Government Demands Digital Overhaul for CFOs, Workiva Positioned as Key Solution\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/federal-government-demands-digital-overhaul-for-cfos-workiva-positioned-as-key-solution\/","og_site_name":"Market Newsdesk","article_published_time":"2025-04-15T13:01:41+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250415728195r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/federal-government-demands-digital-overhaul-for-cfos-workiva-positioned-as-key-solution\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/federal-government-demands-digital-overhaul-for-cfos-workiva-positioned-as-key-solution\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Federal Government Demands Digital Overhaul for CFOs, Workiva Positioned as Key Solution","datePublished":"2025-04-15T13:01:41+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/federal-government-demands-digital-overhaul-for-cfos-workiva-positioned-as-key-solution\/"},"wordCount":620,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/federal-government-demands-digital-overhaul-for-cfos-workiva-positioned-as-key-solution\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250415728195r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/federal-government-demands-digital-overhaul-for-cfos-workiva-positioned-as-key-solution\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/federal-government-demands-digital-overhaul-for-cfos-workiva-positioned-as-key-solution\/","name":"Federal Government Demands Digital Overhaul for CFOs, Workiva Positioned as Key Solution - 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