4.2 FreeBalance Accountability Suite Modules
The FreeBalance Accountability Suite consists of six IFMIS modules. Governments can acquire sub-modules and selected components within these sub-modules. This modular offering is consistent with the Public Financial Management component map.
The six IFMIS modules are:
- FreeBalance Public Financial Management provides core government financial management functionality. Real-time information prevents budget overruns and forecasts budget variance. Comprehensive government accounting functions are provided that support cash and accrual accounting. Project accounting, multiple fund control, assets and inventory are also provided.
- FreeBalance Government Performance Management provides comprehensive multiple year budget formulation functionality including multiple versions and scenarios. Analysis and forecasting features enable budget decision-making during planning and budget execution. Budget classifications can link budget execution with output and outcome data.
- FreeBalance Government Treasury Management provides comprehensive multi-currency cash management and bank reconciliation.
- FreeBalance Public Expenditure Management supports government purchasing and procurement management to enable the best value. Flexible workflow configuration adjusts to the government procurement law.
- FreeBalance Government Receipts Management support non-tax revenue sources, tax regimes and integrates with existing tax systems.
- FreeBalance Civil Service Management supports the entire civil service human resources and payroll lifecycle from recruitment to retirement.