https://www.americancityandcounty.com/wp-content/themes/acc_child/assets/images/logo/footer-logo.png
  • Home
  • Co-op Solutions
  • Hybrid Work
  • Commentaries
  • News
  • In-Depth
  • Multimedia
    • Back
    • Podcast
    • Latest videos
    • Product Guides
  • Resources & Events
    • Back
    • Resources
    • Webinars
    • White Papers
    • IWCE 2022
    • How to Contribute
    • Municipal Cost Index – Archive
    • Equipment Watch Page
    • American City & County Awards
  • About Us
    • Back
    • About Us
    • Contact Us
    • Advertise
    • Cookie Policy
    • Privacy Statement
    • Terms of Service
American City and County
  • NEWSLETTER
  • Home
  • Co-op Solutions
  • Hybrid Work
  • Commentaries
  • News
  • In-Depth
  • Multimedia
    • Back
    • Podcasts
    • Latest videos
    • Product Guides
  • Resources/Events
    • Back
    • Webinars
    • White Papers/eBooks
    • IWCE 2022
    • How to Contribute
    • American City & County Awards
    • Municipal Cost Index
    • Equipment Watch Page
  • About Us
    • Back
    • About Us
    • Contact Us
    • Advertise
    • Cookie Policy
    • Privacy Stament
    • Terms of Service
  • newsletter
  • Administration
  • Economy & Finance
  • Procurement
  • Public Safety
  • Public Works & Utilities
  • Smart Cities & Technology
  • Magazine
acc.com


Keys to choosing financial software

Keys to choosing financial software

When choosing financial software, government officials face a myriad of products and must live with the results for seven to 10 years. That is a heavy
  • Written by Winder, Allen; Tuggle, Joe
  • 1st December 1995

When choosing financial software, government officials face a myriad of products and must live with the results for seven to 10 years. That is a heavy burden, because the right financial software will enhance work flow and ultimately provide better service to taxpayers. Conversely, software that cannot evolve with a community’s changing needs is a disaster.

Today, financial software must offer more than an “automated paper trail” for accounting. To be effective, it must integrate with software systems from human resources and payroll to procurement and public works.

Steps can be taken to ensure effectiveness. First, evaluate how the software links the chief executive, finance, public works and other functions. Second, require a real-time, live demonstration of the software and look for these features:

* GASB and GAAFR compliance. How does the software support accounting, auditing and financial reporting requirements? Have any users won an award in financial reporting from the Government Finance Officers Association?

* Automated production of the Comprehensive Annual Financial Report (CAFR). The system should provide standardizedCAFR features automatically extracting original data from departments. Year end data should interface with the text and financial results for a well-formatted CAFR without manual manipulation.

* Precise measurement capabilities. Look for features that support service and accomplishments, so that government officials can demonstrate the quality, effectiveness and efficiency of services.

* Grant management and accounting support. Federal block grants require extensive tracking and reporting of funds and expenditures. Software should integrate easily with expenditure origin software.

* Integrated contract management. Software should manage documents, such as insurance, performance bonds and change orders in construction projects.

* Full integration and broad scope. Software should be broad enough to integrate with other operations, routing financial data automatically from its origin to a variety of different operations.

* User-defined work flow management support. Look for software that can be tailored to current and future procedures within and among departments.

After the demonstration, examine the software vendor’s role in the project’s success. It is critical that the vendor achieves goals on time and on budget and provides well-established procedures to support this effort. Understand the vendor’s approach to training, customization and enhancements. Ask about the corporate culture. Is it quality driven? A company that builds customer satisfaction into its employee compensation plan is on the right track.

Additionally, find out how other private-sector partners feel about this vendor. Refer to industry experts such as G2 Research, Meadow View, Calif., or the IBM Government Industry Solution Unit, Washington, D.C. Determine whether the vendor qualified for or received any certifications or awards such as ISO 9000 or the Malcolm Baldridge Award. These require measurable and documented success.

Finally, determine the vendor’s commitment to managing government information. How well do they know your business? If the vendor does not know the difference between a CAFR and a PAFR, it is safe to assume that the software does not either. Potential customers should look for a company that is visible in government associations and trade journals via feature articles, trade show participation, guest speakers and instructions.

Tags:

Most Recent


  • How 5G is making cities safer, smarter, and more efficient
    This article first appeared on Urgent Communication. It’s a scenario we’ve all experienced: an ambulance with a blaring siren racing against time to get a person in medical distress to a hospital through traffic. What we don’t see is 5G connectivity enabling paramedics to communicate with hospital staff via video conference and coordinate care in […]
  • Shifting city demographics present an opportunity to build coalitions, address inequality
    Minority-majority cities are driving American growth. New York City, Los Angeles, and Chicago, for example, combined for an estimated 16% of the nation’s total gross domestic product in 2021—future projections anticipate a continuation of this trend, and an opportunity to create coalitions to address injustices. Between 2015 and 2020, 22% of U.S. cities were majority-minority, […]
  • ARPA funds
    Spending American Rescue Plan Act funds: A primer for municipalities
    The American Rescue Plan Act (ARPA) of 2021 is a $1.9 trillion legislative package that includes funding for states, local governments and tribal nations to respond to the economic and public health impacts of the COVID-19 pandemic. While initially restricted, subsequent guidance from the federal government has expanded what those funds can be used for. […]
  • New York City, New York
    Report: While remote work is causing offices to empty out, walkable cities are still in high demand
    Given the reliance on vehicular transportation in the United States, some American cities historically haven’t prioritized being walkable in past planning and or design. But amid an unprecedented shift in the economy toward remote work, those that have are increasingly desirable for prospective residents. A new report from Smart Growth American and Places Platform, “Foot Traffic […]

Leave a comment Cancel reply

-or-

Log in with your American City and County account

Alternatively, post a comment by completing the form below:

Your email address will not be published. Required fields are marked *

Related Content

  • Arbor Day Foundation and Intrinsyx Environmental offer natural solution to clean up industrial contamination in cities and towns
  • MS-ISAC members get free access to Deloitte’s Cyber Detect and Respond Portal to help respond to cyber threats
  • Deltek releases 12th annual Clarity Government Contracting Report
  • How local governments can improve bridge projects through strategic engagement

White papers


Modernizing government services for today’s resident expectations

24th January 2023

Preparing Your Community Now for the Next Generation of Older Adults

18th October 2022

Helping Government Fleets Achieve Their Goals

30th September 2022
view all

Webinars


How To: Evaluate Digital Government Service Delivery Technologies

23rd January 2023

Using Technology to Enhance Communications

29th November 2022

Learn the benefits of transforming and automating your Contract Management process

4th November 2022
view all

PODCAST


Young Leaders Episode 4 – Cyril Jefferson – City Councilman, High Point, North Carolina

13th October 2020

Young Leaders Episode 3 – Shannon Hardin – City Council President, Columbus, Ohio

27th July 2020

Young Leaders Episode 2 – Christian Williams – Development Services Planner, Goodyear, Ariz.

1st July 2020
view all

GALLERIES


Report: While remote work is causing offices to empty out, walkable cities are still in high demand

26th January 2023

10 American cities with a great downtown

24th January 2023

Miami leads the way in FT-Nikkei ranking of best U.S. cities for foreign companies

20th January 2023
view all

Twitter


AmerCityCounty

How 5G is making cities safer, smarter, and more efficient dlvr.it/ShYNcx

27th January 2023
AmerCityCounty

Shifting city demographics present an opportunity to build coalitions, address inequality dlvr.it/ShYMMm

27th January 2023
AmerCityCounty

Spending American Rescue Plan Act funds: A primer for municipalities dlvr.it/ShXzvl

27th January 2023
AmerCityCounty

Report: While remote work is causing offices to empty out, walkable cities are still in high demand dlvr.it/ShVhBW

26th January 2023
AmerCityCounty

Managing landslides along road corridors using remote sensing dlvr.it/ShTpL6

26th January 2023
AmerCityCounty

Report: Prioritizing neighborhood infill, expanding transit options increases neighborhood resilience dlvr.it/ShRrFM

25th January 2023
AmerCityCounty

10 American cities with a great downtown dlvr.it/ShNxXH

24th January 2023
AmerCityCounty

With a few strategies and tools, public procurement directors can recruit new, diverse staffers dlvr.it/ShNnj4

24th January 2023

Newsletters

Sign up for American City & County’s newsletters to receive regular news and information updates about local governments.

Resale Insights Dashboard

The Resale Insights Dashboard provides model-level data for the entire used equipment market to help you save time and money.

Municipal Cost Index

Updated monthly since 1978, our exclusive Municipal Cost Index shows the effects of inflation on the cost of providing municipal services

Media Kit and Advertising

Want to reach our digital audience? Learn more here.

DISCOVER MORE FROM INFORMA TECH

  • IWCE’s Urgent Communications
  • IWCE Expo

WORKING WITH US

  • About Us
  • Contact Us

FOLLOW American City and County ON SOCIAL

  • Privacy
  • CCPA: “Do Not Sell My Data”
  • Cookie Policy
  • Terms
Copyright © 2023 Informa PLC. Informa PLC is registered in England and Wales with company number 8860726 whose registered and Head office is 5 Howick Place, London, SW1P 1WG.