October 21, 2013Doug Hadden
Leading international financial management provider to work with FreeBalance to augment Government Resource Planning (GRP) treasury and central bank solutions
Lisbon, Portugal (October 21, 2013) – FreeBalance, a leading vendor of Government Resource Planning (GRP) software, is pleased to announce a new alliance with EXICTOS focused on government treasury and Central Bank solutions. EXCITOS PROMOSOFT FINANCIAL SUITE solutions for the international financial sector will augment the FreeBalance GRP software portfolio.
EXICTOS, based in Lisbon Portugal, has significant international experience in the financial sector. Like FreeBalance, Exictos is ISO-9001/2008 certified. “Many solutions sold for banking and treasury management do not meet unique government requirements without significant customization,” said Manuel Pietra, FreeBalance President and CEO. “Unlike other solutions, EXICTOS brings the international context and expertise to government financial requirements.”
Recent global financial challenges have shown the need for improved governance among Central Banks. “Many Central Banks and government treasury operations use sets of non-integrated software and need more holistic solutions to improve decision-making,” said Daniel Araujo, Board Director of EXICTOS. “Governments need integration among budget, investment, payment and asset systems. This integration is accomplished through the FreeBalance alliance.”
Budget management and execution functionality in GRP systems support government planning and performance from macroeconomic analysis through to service delivery. Treasury functions, often shared by finance ministries and Central Banks, maximize government liquidity, improve credit ratings and optimize the effects of debt. The integration of these functions with GRP enables governments to better manage risk and adapt rapidly to opportunities and threats from the global market.
EXICTOS has over 25 years of experience developing solutions for the financial sector in more than 50 clients in 7 countries. EXICTOS has earned an international reputation as a reliable business partner for the banking, insurance, retail and utilities industries.
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. FreeBalance solutions are active in 20 countries managing more than a quarter trillion ($US) in annual budgets worldwide. For more information, visit the FreeBalance website.