President Ellen Johnson Sirleaf Launches Liberia Integrated Financial Management Information System (IFMIS)
Government leverages FreeBalance technology to support Public Financial Management reform
Ottawa, Canada (July 25, 2011) – FreeBalance, a For Profit Social Enterprise (FOPSE) software company that helps governments around the world to leverage robust Government Resource Planning (GRP) technology to accelerate country growth, today announced that the Government of the Republic of Liberia has officially launched an Integrated Financial Information Management System (IFMIS). The Liberia IFMIS is the FreeBalance Accountability Suite, a Government Resource Planning (GRP) software application. FreeBalance supports public financial management reforms in Africa with GRP implementations Liberia, Uganda, Sierra Leone, Southern Sudan, and with MCA Namibia.
The Liberia IFMIS represents the first integrated GRP software to be used in the Government of Liberia. This project is funded by the World Bank, Swedish International Development Agency (SIDA), and the Government of Liberia to support public expenditure, financial management and procurement reform in Liberia, as well as improve public sector governance.
The Government of the Republic of Liberia deployed the FreeBalance Accountability Suite to drive government modernization through effective fiscal management. The Government has automated all public finance budget transactions. Budget preparation, expenditure controls, procurement, monitoring, reporting, payroll and human resource management have also been 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.
In the IFMIS inauguration speech on July 12, President Ellen Johnson Sirleaf said: “And now, we are now launching the Integrated Financial Management Information System (IFMIS) into our budget and expenditure management processes. IFMIS is intended to address a number of budget management issues, efficiency, transparency and accountability. These are issues that have posed serious challenges in the mobilisation and use of resources for reconstruction and development.”
"Congratulations to the government of the Republic of Liberia on the successful launch of its IFMIS," said Manuel Pietra, President &CEO at FreeBalance. "FreeBalance is pleased to be working with the government of Liberia as it demonstrates leadership in modernising its public financial management system. FreeBalance looks forward to helping Liberia to improve efficiency, transparency, and accountability."
This initial phase of the implementation will see the FreeBalance Accountability Suite deployed across three sites in Liberia including the Ministry of Finance, Civil Service Agency and the Central Bank of Liberia. This implementation includes FreeBalance Public Financials Management, Government Performance Management, Public Expenditure Management and Civil Service Management. FreeBalance Civil Service Management functionality manages a civil service workforce of 40,000 employees.
FreeBalance is active in 19 countries, including Antigua & Barbuda, Afghanistan, Canada, Iraq, Kosovo, Kyrgyz Republic, Liberia, Mongolia, Namibia, Pakistan, Sierra Leone, Southern Sudan, Timor-Leste, and Uganda among others. FreeBalance software manages more than a quarter trillion ($US) annual budgets worldwide..
FreeBalance helps governments around the world leverage robust Government Resource Planning (GRP) technology to accelerate country growth. FreeBalance software solutions for public financial and human resource management support reform and modernization to improve governance, transparency and accountability. Good governance is required to improve development results. For more information, visit www.freebalance.com.