A Comprehensive Government Financial Management Information System Benchmark class=

A Comprehensive Government Financial Management Information System Benchmark

Is There a Benchmark for Government Financial Management Systems?

The checklist in Ensuring Better PFM Outcomes with FMIS Investments is an excellent resource and a good starting point for benchmarking Financial Management Information Systems (FMIS) in government.

We like the checklist but thought that a benchmark needs more granularity. So, our innovation and PFM teams worked together to update the checklist and we now use this new benchmark as part of our A-i3+qM methodology that is designed exclusively for government and public finance advisory, implementation, and sustainability services.

We extended the checklist with content from the Commonwealth Secretariat Self-Assessment Tool that has some FMIS elements. And, we developed more granular elements with a more specificity, particularly in information technology and public accounting.

The FreeBalance government financial management system benchmark consists of:

  • 20 TSA elements
  • 73 Core Functionality elements
  • 62 Ancillary Feature elements
  • 15 Coverage and Utilization elements
  • 145 Technical Aspect elements

The benchmark follows the World Bank structure with colour coding:

  • Black for original World Bank content
  • Red for Commonwealth Secretariat content
  • Green for FreeBalance content

List of Questions to Assess the Status of the Treasury Single Account (TSA)

How do you get a copy of the benchmark and a short briefing?

There is no charge for the benchmark and briefing

About the FreeBalance A-i3+qM Methodology

FreeBalance uses an ISO-9001:2015 certified service methodology called A-i3+qM – accelerated, integrated, iterative, implementation-focused and quality management system that has the following characteristics:

  • Government-Specific developed over almost 40 years of government-only projects, with emphasis on government fiscal management, change management and capacity building 
  • Government Good Practices using problem diagnostics, and advocating legal and appropriate practices for the context
  • Integrated Product and Project Methodology that accelerates delivery, enables adapting software to meet needs, and eliminates the problem of orphan code through fully commercially-supported customization
  • Modern Effective Agile through staging proven scientific commercial practices that increase implementation success rates, overcome uncertainty, and improve communications

FreeBalance Advisory Services

The FreeBalance Advisory Services portfolio includes:

  • Advisory: Set of governance, public finance, change management, program management, and IT advisory services
  • Implementation: Comprehensive enterprise software and FMIS implementation service
  • Sustainability: Capacity building, training, change management, support and maintenance services

Get in touch to set up benchmark briefing session.

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