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Kosovo Shines in 2022 PEFA Report

FreeBalance’s customer, the Government of Kosovo achieved an excellent result in the 2022 PEFA assessment. The recently released report from the Public Expenditure and Financial Accountability (PEFA) Secretariat demonstrates that Kosovo has made positive and steady progress in its Public Financial Management (PFM).

Complexity of Government Performance Management

Government performance management is not something that can be sustained by using stand-alone software. Or, software designed for the private sector. A unified approach across the budget cycle is required. Learn more here.

Dashboards

Integrated Dashboard Solutions FreeBalance dashboards support evidence based decision through automated statistical reports with KPIs which provide forecasts and analysis of critical fiscal information. (GPCE) President / Prime Minister Dashboard Executive level dashboards to support decision making and performance management. (GPMD) Minister’s Dashboard Using transactions of a specific ministry, the dashboard gives scorecards that can … Continued

What is the FreeBalance PFM Component Map?

The pressure is on for governments to modernize and invest in new technologies, but it can be hard to know where to start or how to prioritize these investments. The practice of acquiring an Integrated Financial Management Information Systems (IFMIS) often begins with the context of private sector accounting or existing software in use. But financial management differs in the public sector which means that this approach often misleads prioritization.

Government Resource Planning Explained

Government Resource Planning (GRP) is much more than a variation of ERP software: it’s a unique tool for financial and information management that allows and enables a government to build capacity, increase self-sufficiency, improve transparency, and ensure accountability. The result is a government that is trusted, both by its citizens and funders such as the World Bank and International Monetary Fund (IMF), etc. 

Government Results and Performance Management: The Unified Approach

Ideas about how to classify and manage government performance – outputs and outcomes – has progressed to the realm of transparency. The critical question is how can governments demonstrate budget plans designed for citizen services and follow through to show the actual results – much like we have helped the Government of Timor-Leste.

How to Make IFMIS Implementations More Affordable

Financial sustainability of Integrated Financial Management Information Systems (IFMIS) is a critical problem, particularly for governments of smaller economies such as in Latin America and the Caribbean. It is sadly ironic that governments have difficulty affording the very systems that are designed to better manage public finances.

Public Finance to the Sustainability and Resilience Rescue

FreeBalance has often highlighted the linkages between Public Financial Management (PFM) and sustainability, and we firmly believe that international public sector standards should be developed.

How Can Governments Transform Country Resilience?

What PFM lessons did we learn from the pandemic? First and foremost that the budget cycle offers resilience planning and tracking opportunities.

Why is Public Financial Management the Brain Behind Country Resilience?

PFM is about following the budget cycle from planning through to outcomes by building resilience in Public Investment Management and achieving sufficient fiscal space to react to crises. And, the use of an effective Government Resource Planning (GRP) system like the FreeBalance Accountability Suite™ to support the entire budget cycle.

What Is the Heart of Country Resilience?

What can we learn from resilience “wake-up” calls: pandemics, natural disasters, wars, food insecurity, and climate risks? For one thing, the term “resilience” has risen to top-of-mind among government leaders.

Government Resource Planning and The Cloud

FreeBalance has noticed a dramatic increase in the adoption of cloud technologies by governments and Government Resource Planning (GRP) providers are winning the race. Enterprise Resource Planning (ERP) cloud offerings are noticeably behind the curve while there has been an explosion of software designed for the public sector in the United States. Special cloud products for transparency and citizen engagement are also growing worldwide.

How to Choose The Right PFM Software

FreeBalance has been implementing Government Resource Planning (GRP) software around the world for almost 40 years and we have seen first hand how governments struggle to deal with rich, but irrelevant, ERP feature sets. So-called built-in “best practices” are rarely applicable in Public Financial Management (PFM) and can’t be implemented with existing public service capabilities. Even when built-in practices are relevant, PFM legal reform is usually required.

ERP Is Holding Government Back

Governments around the world are starting to realize that their legacy Enterprise Resource Planning (ERP) systems are no longer “fit for purpose” for their Financial Management Information Systems (FMIS).