August 2024 marked FreeBalance’s 40th anniversary. We’re proud of our history. Over the last four decades we have supported more than 25 countries to reform public financial management (PFM), enhance service delivery, foster transparency and accountability, and build enduring citizen trust.
In 1984 we were engaged by the Government of Canada to create a set of software products which would improve fiscal controls and eliminate over-spending. We were known then as Linktek, and our product enabled the Government to see the amount available for spending, using commitment accounting functions, in real-time. In Canadian accountancy terms, the calculation of budget less commitments and actuals is known as the “free balance.” Soon, we became so well known for our “free balance” product, that the company changed its name.
We have consistently evolved our products, making sure to stay in lockstep with the unique needs of the public sector. Our innovative software, the FreeBalance Accountability SuiteTM, manages the entire government budget cycle, improving efficiency, decision-making and effectiveness. It is backed by our proprietary ISO-9001:2015-certified agile implementation methodology, to ensure that customers can realize the strategic goals of their PFM reform.
In 1999, we were proud to be selected by the Government of Kosovo to support its post-conflict public financial management needs. This would become the foundation for a strong footprint around the world.
Fast forward to today, and FreeBalance implementations in governments around the world manage over $425 billion on behalf of almost 900 million citizens. Many of our customers have received improved Public Expenditure and Financial Accountability (PEFA) ratings – the acknowledged standard for PFM assessments.
And we recently embarked on a digital transformation project with the Government of Costa Rica, for the first time replacing a Tier 1 enterprise resource planning (ERP) provider.
Throughout our 40-year history, purpose has been at the heart of what we do. We remain as committed to PFM reform that matters as we were in the early days of our company. Through our highly adaptable government-specific software, strategic advisory services, and the practical government-bespoke training and capacity building approach driven by the FreeBalance Academy, we support countries at post-conflict stage through emerging nations to the G7. We’re proud that the FreeBalance Accountability SuiteTM is used by three of the four newest nations on earth.
Our global team, composed of passionate and inspired professionals from over 45 nationalities, is the driving force behind our long-term success. Their commitment to building impactful solutions has made a tangible difference both locally and globally.
As we celebrate 40 years of innovation and impact, we thank our FreeBalance colleagues and customers for their ongoing support, and look forward to many more decades of supporting PFM that matters.
