Finance management _{^{in the public sector}}

Despite running a more streamlined service during the pandemic, some public sector organizations saw sudden changes in funding, greater focus on allocation and reporting of funds, quickly, accurately, and flexibly. However, now they are struggling to balance the books, and need to find innovative ways of reducing cost.

54% have seen funding increase

Despite a worldwide ‘shut-down’ during the pandemic, public sector organisations (outside of govt.) are more likely to have seen their funding increase – either through the govt. or through charitable donations.

Similarly, governments were more likely to see their incomes increase over the past 24 months.

95% are looking to make cost savings –

most commonly by making cuts to desperately needed services.
This is highest for emergency services (54%).

Complex regulations, and making decisions too quickly

are the most common issues facing finance decision makers who are adapting to expense management
and procurement changes in the past two years.

The vast majority of finance DMs report that year end (84%), statutory reporting (85%) and their ability to meet these increasingly complex regulations (89%) could have all been easier for them.

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Year end

Statutory reporting

Ability to meet regulatory requirements