The Spinoff Effect: How We All Can Benefit from DoD Investments in Financial Management

The history of military technology transfer has resulted in numerous improvements to modern life. From shelf-stable food to satellite navigation and high-resolution digital imaging, many conveniences we take for granted today originated in the military. The transfer of military innovations to the civilian realm has had a significant impact on various aspects of contemporary life, including materials, medicine, travel, and civil engineering. However, technology is not limited to dedicated gear and gadgets; it can also apply to methodologies and best practices. The DoD has the opportunity to invest in a platform for collaborative financial management that can benefit not only the department but also society as a whole. Such a platform should prioritize security, confidentiality, usability, and openness, while also accommodating established functions, processes, and user roles. By promoting transparency, ease of interaction, and instant collaboration, this platform could address pain points, enhance efficiency, and provide a single source of truth for financial transactions. Ultimately, investing in technology-enabled collaboration can transform the way financial management is conducted and create business value and efficiency.