FI Insight Featured in AGA Journal
FI Consulting thought leaders Robert Silverman and Scott Inderbitzen along with Tom Coleman, former CFO of the Federal Financing Bank, collaboratively authored a feature article for the Spring 2019 AGA Journal. The article, “No Budget Left Behind” provides insight on how collaborative acquisition planning, better visibility, and the right technology can beat the end-of-year blitz.
No Budget Left Behind
Each year, federal agencies obligate as much as 15 percent of their contracting actions in the last month of the fiscal year, with six to eight percent occurring in the final week. This results in an increase in workload of nearly twice the monthly average in September and more than four times the weekly average during the final week of the fiscal year. Budget, procurement, and program professionals are all impacted by this strain on resources and the inefficient outcomes that result from hectic year-end processing. Federal agencies often struggle through fourth quarter logjams of overdue acquisitions that can result in rushed procurements, acquisition of lower-quality resources, circumvention of competition requirements, mistakes, and expiration of budgeted funds. Current acquisition and spend planning approaches and tools fall short of achieving optimal results. The impact of this failed opportunity is great, yet government agencies can overcome these challenges through more effective collaboration, better visibility, and the use of emerging technology.
View a PDF of the article in its entirety.
Please visit AGA’s website for more information.
Learn more about FI Consulting’s Acquisition and Spend Plannier solution here.