Government executives are being tasked with crafting a system that complies with a large network of laws and regulations. Agencies must use enabling technologies as a means to leverage people, policies and processes to realize a new standard of financial management. Modern financial management programs have four key characteristics: A focus on improving financial performance. Tight links between financial and budget decisions and performance and program results. Use of competitive sourcing. Expanded electronic government tools, such as XML, SOAP and PKI. Security, workflow, enterprise application integration, and business intelligence technologies.”]
Source: https://www.csoonline.com/article/2116276/addressing-the-federal-financial-management-challenge.html