FreeBalance expands public financial management presence in Africa
Ottawa, Canada (April 12, 2010) – FreeBalance, a global software company that helps governments leverage robust Government Resource Planning (GRP) technology to accelerate country growth, has been selected to implement the FreeBalance Accountability Suite for the Government of the Republic of Liberia. FreeBalance has recently announced agreements with the Government of Uganda and MCA Namibia. FreeBalance is uniquely positioned to support public financial management reforms in Africa. FreeBalance has successfully rolled out modern public financial management systems in challenging circumstances: limited connectivity, low bandwidth, lack of electrical power, and low capacity.
The Government of the Republic of Liberia will deploy the FreeBalance Accountability Suite to drive government modernization through effective fiscal management. The Government will automate all public finance budget transactions. Budget preparation, expenditure controls, procurement, monitoring, reporting, payroll and human resource management will be implemented. The FreeBalance Accountability Suite is an automated system that provides better expenditure controls and improved transparency in the budget cycle. The FreeBalance Accountability Suite integrates all government budget, revenue and expenditure information.
“The Government of the Republic of Liberia is committed to advancing key governance reform initiatives in support of its reconstruction efforts,” said the Honorable Tarnue Mawolo, Deputy Minister Administration. “The FreeBalance Accountability Suite will serve as a tool to support reform initiatives and will provide the foundation for economic growth and transparency. By building a more transparent government, public trust in the Government of Liberia will only increase.”
The FreeBalance Accountability Suite will be implemented in five sites including the Ministry of Finance, Civil Service Agency, General Auditing Commission and it will connect to the Central Bank of Liberia. This implementation includes the FreeBalance Public Financials Management, Government Performance Management, Public Expenditure Management and Civil Service Management. The FreeBalance Civil Service Management payroll functionality will manage a civil service workforce of 40,000 employees. FreeBalance will be assisted by its local partner, FutureCom, for the provision of local support and implementation services.
“We are honoured to work with the Government of the Republic of Liberia as it modernizes its public financial management system,” said Manuel Pietra, President & CEO of FreeBalance. “The people of Liberia will quickly realize the benefits of an automated, integrated GRP software system. FreeBalance will also ensure that the Liberia GRP system is sustainable with a low total cost of ownership.”
FreeBalance customers span the globe and the user community includes public financial management professionals in 18 countries, including Namibia, Sierra Leone, Uganda, Southern Sudan, Timor-Leste, Afghanistan, Kosovo, and Iraq. FreeBalance operates in 15 customer time zones. FreeBalance has more than 60,000 users around the world. FreeBalance software manages a global civil service workforce of 1,500,000, and also manages a quarter trillion ($US) annual budgets worldwide.