Doral tech firm Strada is aiming to overhaul how U.S. government agencies prepare their annual financial reports, announcing a new automated solution that slashes time, cost, and manual work from one of the public sector’s most labor intensive processes.
Unveiled this week, Strada’s Automated ACFR app, set to hit the Workday Marketplace in late summer, promises to reduce the time required to produce an Annual Comprehensive Financial Report (ACFR) by up to 80%, while cutting manual labor in half. The app targets U.S. state and local governments, many of which still rely on outdated systems and spreadsheets to compile these legally required, GASB compliant financial disclosures.
For public finance teams, ACFR season is still a massive time suck. This app is about giving them back their time and their sanity, while also helping them stay compliant and audit ready.
said Steven Porter, Strada’s Head of Public Sector Sales.
From Manual to Modern
Strada’s new app integrates directly with Workday Adaptive Planning, automating the extraction, formatting, and versioning of data needed for the ACFR. The app covers everything from financial statements and management discussion and analysis (MD&A) to statistical tables and narrative disclosures, areas that often require dozens of hours to compile and revise.
The cost savings are also significant: Strada estimates annual reductions in reporting expenses of $110,000 to $160,000 per customer.
Eye on AI-Enhanced Reporting
While automation is the near term focus, Strada is already building AI-powered agents into future releases. Starting in early 2026, the app will begin offering features that help draft, edit, and align narrative sections (like MD&A) with current year data and previous filings. The goal: boost clarity, maintain consistency, and reduce compliance risk.
Our vision isn’t just automation, it’s intelligent support that evolves with your needs.
added Steven Porter, Strada’s Head of Public Sector Sales.
The company has not yet disclosed pricing, but the app will be generally available by the end of 2025.