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10 Public Financial Management Innovation Insights from ICGFM

 

May 25, 2014

Doug Hadden

Public Financial Management (PFM) is undergoing change and innovation, particularly in developing countries and emerging economies. My “top 10″ takeaways from the recent International Consortium on Governmental Financial Management (ICGFM) Conference in Miami are:

  1. PFM continues to change, adapt and expand
  2. Context of informal practices and culture is necessary for PFM reform change management
  3. International Financial Institutions (donors) are often as much of part of the problem as the solution in PFM reform
  4. Transparency has a significant impact of PFM and good governance
  5. There are significant problems in developing country governments when adopting complex financial management software
  6. Public Financial Management is a continues process of reform sequencing
  7. “Megatrends” will have a significant impact of public policy and public financial management
  8. The need for procurement transparency is becoming clearer to governments
  9. Governments need to think in the long term to better manage risk
  10. Capacity building is on the critical path to PFM reform sustainability
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Doug Hadden

Doug Hadden

Executive Vice President, Innovation at FreeBalance
Doug is responsible for identifying new global markets, new technologies and trends, and new and enhanced internal processes. Doug leads a cross-functional international team that is responsible for developing product prototypes and innovative go-to-market strategies.

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