What benefits has FreeBalance software provided to government customers? Software assists governments to achieve results in Public Financial Management (PFM) reform. As described earlier, FreeBalance customers have achieved higher than average Public Expenditure and Financial Accountability (PEFA) assessments in PI-5 Budgetary Classification, PI-10 Public access to key fiscal information. PI-20 Effectiveness of internal controls on non-salary expenditure, PI-25 Quality and timeliness of annual financial statement.
The annual FreeBalance customer survey found that FreeBalance software has been used to achieve many positive PFM results. The improved Chart of Accounts was rated as having the biggest impact. FreeBalance Accountability Suite was designed for government with a flexible and adaptable multiple year Chart of Accounts. The Chart of Accounts builder enables supporting International Public Sector Accounting Standards (IPSAS), Government Financial Statistics (GFS), Classification of the Functions of Government (COFOG) and national standards. FreeBalance experience in many countries has helped to create good public accounts classifications. Unlike software designed for the private sector, FreeBalance easily supports changes to reflect reform and modernization such as government reorganization, or adding program and performance structures.
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.