Four CFO Priorities
“If we had it our way, we would implement an electronic
bidirectional grant e-file, where we would have bidirectional communication at any time with our recipients. Then, recipients could see the status of their project, review previously submitted reports, and determine drawdown levels. It’s just been a struggle doing that with the standard solution.”
— Grantor
Provide clearer guidance
Standardize requirements and definitions for governmentwide grant applications
Provide clearer guidance
3
2
Provide additional technical assistance throughout the grants lifecycle
1
Develop more intuitive
processes, technologies,
and systems
Improving Customer Experience
2
Grantors &
Recipients agree
Establishing Climate-related goals and reporting
3
Depending on your framework of
analysis, there’s a lot of different ways you could calculate climate impacts… For example, if you’re talking about climate resilience,
you might have a project that’s actually creating emissions, but it’s there for climate resilience to protect a town. How do you measure climate effects on that grant?”
— Grantor
*Source: https://www.venable.com/insights/publications/2023/06/nepa-amendments-highlights-and-practical
33%
Recipients
Grantors
Grantors
Recipients
Only 33% of grantors and passthroughs are currently working on implementing the more robust disclosure of climate-related risks by recipients. Most will need to given new deadlines for environmental assessments (1 year) and impact statements (2 years) to the NEPA.*
Download the Report
Download the Report
Download the Report
Download the Report
Skill Sets
Collaboration
Data Management
Governance Risk & Internal Controls
CFOs know their staff’s pool of skill sets fundamentally determines how effectively they approach, implement, and use advanced technology.
Of CFOs cite hiring staff as a major obstacle to technology adoption.
Opportunity
Invest in existing staff to cultivate skill sets beyond tech:
Project Management
Communication
Influence
Risk Management
Analytics
Today’s CFO understands a collaborative environment is essential to support the skill sets of any one unit, and subsequently the overall momentum for any technology initiatives.
Organization-Wide Collaboration
Empower Positive Staff Influencers
Incentivize
Adoption
Benchmarks
Opportunity
Of CFOs use strategic collaboration across departments and agencies to prepare staff for advanced technologies.
For the data to deliver, a strong data management strategy developed through collaboration and reflective of the needs of the enterprise is essential.
Opportunity
Of CFOs see integrating software with legacy systems as a primary challenge when implementing advanced technology.
Effective internal control frameworks are the guardrails that keep an organization’s people, processes, and data consistent and safe.
Opportunity
Of CFOs expect fraud driven by a security breach to negatively impact their organization over the next five or more years.
Invest in System Integration and Data Preparation
Ensure Data Governance in Partnership with CIO, CISO, and CDO
Improve
Process Documentation
Revamp Governance Structures
Set Risk Tolerances
Foster a Risk-aware Culture
Skill Sets
Collaboration
Governance Risk & Internal Controls
Data Management
Skill Sets
Collaboration
Data Management
Governance Risk & Internal Controls