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News & Events
FreeBalance Shares Regional GRP Expertise at IDB Workshop
Workshop themes included IFMIS implementation & integration strategies, transparency and cost benefits analysis models
Ottawa, Canada (18 November 2011) – FreeBalance, a global Government Resource Planning (GRP) software company, presented at the Inter-American Development Bank (IDB) Integrated Financial Management Information Systems (IFMIS) Workshop. The event was held at the Andrés Bello Auditorium in Washington DC from 16-17 November 2011. The workshop explored the challenges of implementing an IFMIS and best practices in its development, implementation strategies and operation. The review of these issues with government officials and field experts provided valuable knowledge and contacts to improve the efficiency, effectiveness, and accountability in public expenditure systems at the regional level.
During the IFMIS Workshop, Adrian Waldman, VP Sales Latin America & Caribbean, and Aldo Sagastume, Director New Product Development at FreeBalance participated on the “Consulting Firms Experience on IFMIS Implementation” panel on 16 November from 17:15 – 18:45. This panel was moderated by Daniel Sanchez, Knowledge Management Consultant, IDB.
Now, more than ever, governments must implement disciplined government resource planning practices to avoid economic pitfalls. ERP systems designed for private sector use that are adopted for IFMIS context are costly and unsustainable. Private sector is profit driven, Public sector is budget driven. GRP is different. IFMIS designed for government context facilitates the enforcement of these practices and policies. FreeBalance has successfully implemented and integrated IFMIS solutions with management functions from post conflict to G8 countries. Government accounting standards, including commitment accounting and best practices, are embedded in the FreeBalance GRP solution. The track record in the FreeBalance solution helps governments understand cost-benefit analysis model and realize government goals and reforms. FreeBalance financial management, human resource, costing systems and performance budgeting solutions support the GRP mandates of 19 countries around the world. And governments around the world use the FreeBalance GRP solution to support transparency, and bolster citizen and donor confidence.
"FreeBalance was honoured to share government resource planning IFMIS implementation good practices with the IDB IFMIS Workshop attendees," said Manuel Pietra, President & CEO at FreeBalance. "Our mission is to help countries leverage technology to support economic growth and aid development through transparent and accountable financial systems. FreeBalance is active in all World Bank regions and has more than 25 years experience implementing IFMIS solutions worldwide."
The FreeBalance Accountability Suite offers a pure web-based platform that has been optimized for rapid government deployment and operational effectiveness. It is ideal for all levels of Government as the FreeBalance Accountability Suite was designed specifically for public financial management. The FreeBalance Accountability Suite covers the entire budget cycle, including budget preparation, budget execution, and civil service management and includes financial and human resources transparency that improves governance and trust. Recent innovations from FreeBalance include Transparency and Procurement portals to improve government accountability.