New app streamlines compliance, boosts efficiency and frees finance teams from the manual burden of year-end reporting

MIAMI: Strada, the leading provider of end-to-end payroll, human capital, and financial management solutions, proudly announces its new Workday Marketplace app, Automated Annual Comprehensive Financial Report (ACFR). Scheduled for release on the Workday Marketplace in late summer 2025 and purpose-built for U.S. state and local governments, the app can replace time-consuming reporting with intelligent automation to enhance the speed, accuracy, and consistency of ACFR preparation.

Preparing an ACFR is a legal requirement for most U.S. government entities and a cornerstone of transparency and compliance with Governmental Accounting Standards Board (GASB) regulations. Yet for many public sector entities, the process remains highly manual, error-prone, and reliant on outdated systems.

Strada’s Automated ACFR will address these challenges directly by connecting to Workday Adaptive Planning, which will help customers automate data extraction, formatting, and version control. The app will allow customers to compile all required ACFR content, from financial statements and narrative disclosures to trend data and statistical tables, dramatically reducing manual effort while improving accuracy, consistency, and auditability.

Finance teams using the Automated ACFR app will expect to see, on average:

• 80% reduction in the time required to produce an ACFR
• 50% reduction in manual effort needed to compile the report
• Estimated annual savings of $110,000 to $160,000

“With increasing scrutiny on public sector finances, timely and accurate reporting is more important than ever,” said Steven Porter, Head of Public Sector Sales at Strada. “This new app will empower finance leaders to deliver ACFRs with less manual work, fewer errors, and more confidence in compliance.”

Automated ACFR will be generally available by the end of 2025. The initial release will deliver robust automation and template-driven reporting capabilities, aligned within established Government Finance Officers Association (GFOA) Excellence in Financial Reporting Program standards and designed to bring immediate, high-impact value to public sector finance teams. Looking ahead, Strada is also developing embedded AI agents to further enhance the solution. Set to debut in early 2026, the agents will assist with drafting, editing, and refining complex narrative sections, helping ensure consistency, clarity and compliance year over year.

By referencing both prior-year reports and current-year data, the AI agents will:

• Update management discussion and analysis (MD&A) sections
• Align commentary with updated charts, figures, and tables
• Maintain a consistent tone and structure year over year
• Suggest clearer, more concise phrasing while preserving format

“Our vision is to support public sector teams not just with automation, but with intelligent assistance that makes complex reporting faster, clearer, and more consistent,” Porter added. “We want to help these skilled financial professionals focus on insight, not admin and free them from time consuming, repetitive tasks so they can deliver greater value for their communities.”

Strada will showcase the new Automated ACFR app at the upcoming GFOA Annual Conference (June 29 – July 2) in Washington, D.C. at the Walter E. Washington Convention Center, Hall E, Booth #641. Attendees can book a one-on-one demo to explore how the solution simplifies ACFR preparation, reduces compliance risk, and prepares for future AI-driven innovation.

To learn more or reserve a demo slot please visit our website.

About Strada

Strada is a people, payroll, and technology leader that simplifies international workforce management. Across 180 countries, Strada designs and delivers people first solutions powered by cloud-based technology that help organizations grow and enable workforces to perform at their best. To learn more, visit www.stradaglobal.com

Fonte: Business Wire