Lessons Learned from FreeBalance Customers
Customer Presentations and Panel
FreeBalance government customers presented information about country Government Resource Planning (GRP) implementations, Public Financial Management (PFM) reform and lessons learned at the FreeBalance International Steering Committee (FISC) conference in Madeira Portugal.
Public management and reform challenges described by governments at FISC included:
- Financial Control: Liquidity and fiscal deficits
- Inefficiencies: Structural inefficiencies requiring streamlining
Accomplishments made by FreeBalance government customers, some leveraging the FreeBalance Accountability Suite:
- General Financial Management: improved PEFA assessments, reform plans based on PEFA assessments, clearance of backlog in annual reports, timely production of budget and statutory reports, better budget execution
- Standards: support for IPSAS, GFS, COFOG standards
- Treasury: automated cheque printing, electronic signatures, electronic funds transfer, automated bank reconciliation, better cash and liquidity forecasting
- Performance: management reporting including OLAP and dashboards with Key Performance Indicators (KPIs) and analytics, automated budget planning and budget book creation, program budgeting and performance management in the Chart of Accounts
- Civil Service: reduction in ghost employees, more rapid generation of payroll
- Receipts and Revenue: faster recognition of cash receipts
- Audit: improved audits, unqualified audits, better audit trails and fraud reduction
- Procurement: improved purchasing and payment efficiency
- Decentralization: decentralization of accounting, purchasing and budget functionality to line ministries and sub-national governments
PFM Lessons Learned
FreeBalance international customers completed the FISC Survey prior the conference. FISC members rated “government ownership” over PFM reform as the most important lesson learned in implementing Government Resource Planning (GRP) systems.
FISC member agreed that Project Management and a project steering committee are essential to GRP implementation success. They disagreed that Information Technology personnel should manage the project.
The annual FreeBalance International Steering Committee (FISC) conference runs from January 16 – 19, 2011 in Madeira, Portugal. FISC provides an interactive forum to exchange Public Financial Management (PFM) good practices among international customers and PFM thought leaders. FISC drives the FreeBalance Accountability Suite product vision to direct FreeBalance GRP solutions. Previous FISC events were held in Mt. Tremblant, Canada (2010); Prague, Czech Republic (2009); Cascais, Portugal (2008); and London, United Kingdom (2007).
The FreeBalance Customer Survey
The FreeBalance Customer Survey helps achieve a very important company mission: public financial management knowledge transfer, as a For Profit Social Enterprise (FOPSE). It also helps us improve customer-centric processes by gauging satisfaction and measuring trends.
More results of the FreeBalance Customer Survey will be presented on this blog during the FreeBalance International Steering Committee conference in Madeira Portugal. Many of the items on the agenda are built from the survey, so discussions here in Madeira will add more context to the survey results.
Tags: audit, chart of accounts, civil service management, COFOG, dashboards, decentralization, FISC, FreeBalance International Steering Committee, GFS, human resources, international standards, ipsas, KPIs, lessons learned, OLAP, procurement, project management, receipts, Treasury