Government leaders are increasingly recognizing the importance of effectively measuring, analyzing, and improving government performance. This is vital for ensuring optimal resource allocation, promoting transparency, and delivering better services to citizens.
FreeBalance’s (GPM) Government Performance Management software is designed specifically to address this, providing the tools and functionalities required to enhance government financial management and performance analysis.
In this article we explore how FreeBalance’s (GPM) Government Performance Management solutions can support governments at all stages of their digital transformation journey.
What is Government Performance Management?
Government Performance Management (GPM) is a strategic approach and set of practices used by governments to measure, assess, and improve their performance in achieving their goals and delivering public services effectively and efficiently. It involves the use of key performance indicators (KPIs), data analysis, and performance measurement tools to monitor and enhance government operations, service delivery, and policy outcomes. GPM aims to ensure that public resources are allocated optimally, public services meet the needs of citizens, and government entities operate with transparency and accountability.
How does FreeBalance support Government Performance Management?
FreeBalance’s GPM software is a powerful suite of tools that support a wide range of budget and performance functions. These include multiple-year policy and budget planning, budget and performance classifications, forecasting, analytics, dashboards, scorecards, compliance and audit management, fiscal transparency portals, and access to information management. This comprehensive suite enables governments to measure, analyze, and improve their performance effectively.
Importantly, FreeBalance’s GPM modules can be tailored to meet the unique needs of governments at different stages of their digital journey. This enables governments to realize the benefits of digital PFM whether they want to digitize, digitalize or digitally transform.
Digitizing performance management
Moving from on-paper processes to digital improves access to information, reduces the risk of fraudulent activity and improves the security of data.
For governments at early stages of their digital PFM journey, (GPM) Government Performance Management can be used to digitize key information and processes, including:
- accepting electronic budget requests
- printing annual budget books
- implementing budget classifications
- providing analysis capabilities through data warehousing technology.
Leveraging digitalization
Governments ready to take the next step can leverage a range of digitalization functions within (GPM) Government Performance Management, such as:
- automating the government budget calendar with fiscal envelopes, budget circulars, scenarios, versions and approvals
- supporting multiple-year Medium-Term Budgeting Frameworks (MTBF) with program classifications, and changing forecasts
- managing compliance and performance audits.
These automation features lead to more streamlined operations, reduce the need for manual intervention, and result in increased efficiency and cost savings.
Transforming GPM with FreeBalance
Rethinking and overhauling GPM processes to put technology at their heart is for governments ready to drive change and innovate digitally through large-scale digital transformation. FreeBalance’s GPM software provides an array of powerful tools and functionalities to support this, including:
- integrating performance and value-for-money structures directly with government goals
- integrating fiscal data with non-fiscal government structured and unstructured data, internal and external activity streams
- enabling user analytics development, data science, and machine learning via data lakes for evidence-based decision-making
- implementing interoperability of metadata, controls, and data across all financial applications
- automating fiscal transparency with open data
- supporting future reform through low-code/no-code technologies, particularly multiple-year budget classifications
- activating good practice integration methods like APIs and web services to extend functionality and service delivery.
Digital transformation of government performance management offers the most significant impact, maximizing efficiency, reducing risk and enhancing the ability to analyze information.
The time to enhance government performance management through digital solutions is now. With almost 40 years’ experience of providing PFM solutions to governments around the world, FreeBalance is the ideal partner to help your organization leverage GPM tools, regardless of where you are on your digital journey.
If you’re ready to learn more about how FreeBalance’s GPM software can be tailored to your unique needs and objectives, speak to one of our PFM experts.