Strada, a provider of end-to-end payroll, human capital, and financial management solutions, has announced the upcoming release of 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 application is designed to replace manual reporting processes with intelligent automation, enhancing the speed, accuracy, and consistency of ACFR preparation. This initiative aims to empower finance leaders to deliver ACFRs with reduced manual effort, fewer errors, and increased confidence in compliance.
Preparing an ACFR is a legal requirement for most U.S. government entities and is essential for transparency and compliance with Governmental Accounting Standards Board (GASB) regulations. However, for many public sector entities, this process remains highly manual, prone to errors, and often reliant on outdated systems. Strada’s Automated ACFR is designed to address these challenges directly by connecting to Workday Adaptive Planning, which will facilitate automated data extraction, formatting, and version control. The app will allow customers to compile all required ACFR content, including financial statements, narrative disclosures, trend data, and statistical tables, significantly reducing manual effort while improving accuracy, consistency, and auditability.
Finance teams utilizing the Automated ACFR app are expected to achieve, on average, an 80% reduction in the time required to produce an ACFR and a 50% reduction in the manual effort needed to compile the report. These efficiencies are projected to result in estimated annual savings ranging from $110,000 to $160,000.
Steven Porter, Head of Public Sector Sales at Strada, stated, “With increasing scrutiny on public sector finances, timely and accurate reporting is more important than ever. 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 provide robust automation and template-driven reporting capabilities, aligned with established Government Finance Officers Association (GFOA) Excellence in Financial Reporting Program standards, designed to deliver immediate, high-impact value to public sector finance teams.
Looking ahead, Strada is also developing embedded AI agents to further enhance the solution, with a planned debut in early 2026. These AI agents will assist with drafting, editing, and refining complex narrative sections, helping to 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 annually, and suggest clearer, more concise phrasing while preserving formatting.
Porter added, “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. We want to help these skilled financial professionals focus on insight, not administration, 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, held from June 29 to July 2 at the Walter E. Washington Convention Center, Hall E, Booth #641, in Washington, D.C. Attendees can book one-on-one demonstrations to explore how the solution simplifies ACFR preparation, reduces compliance risk, and prepares for future AI-driven innovation. Strada simplifies international workforce management across 180 countries, designing and delivering cloud-based technology solutions that support organizational growth and workforce performance.
