The Government of Kosovo has selected FreeBalance to support three new projects which will improve procurement practices, invoice tracking capability and visibility of how decisions regarding public finances are made. These additions to the Kosovo Financial Management Information System (KFMIS) further increase efficiency of public financial management and enhance fiscal transparency.
Since 1999, FreeBalance has proudly supported the Government in the development, implementation, and ongoing maintenance of the KFMIS, a multi-language (English, Albanian, and Serbian) system that supports all ministries and municipalities. These new projects build on this long standing relationship.
The first project will ensure interoperability between the KFMIS and the Government’s e-procurement system, increasing efficiency, cost savings, accuracy, compliance, and the ability to support strategic procurement initiatives. As a result of FreeBalance’s work on this project, the Government will be able to rely on seamless data exchange between systems and benefit from automating processes which are currently manual. This allows public servants to increase data accuracy, reduce manual errors and make more informed decisions.
A new vendor invoice tracking system, which will streamline the entire invoicing process from submission to approval and payment, is the second new programme of work. This new tool will enforce compliance with government regulations and policies, ensuring that all invoices meet the required standards and are processed in time. The system can flag discrepancies and delays in invoices, reducing the likelihood of fraudulent activities.
FreeBalance’s third new project with the Government of Kosovo is an application that streamlines interactions between governments, citizens and businesses. The FreeBalance Transparency Portal provides quick and accurate access to all data handled in the KFMIS. It standardizes the format and structure of expenditure and revenue data across different budget organizations, making it easy for stakeholders to view and download key public financial information. This helps to build citizen trust and reduces enquiries and complaints regarding public expenditure.
Over the last 25 years, the KFMIS has played a pivotal role in the country’s public financial management reforms. The most recent PEFA Assessment for Kosovo demonstrates continued robust advancements in the country’s public financial management:
These latest programs of work build on this existing success and support the Government of Kosovo as it continues to improve its fiscal practise and build trust with citizens.