Latest Corruption Perceptions Index shows that FreeBalance customers continue to show improvement while the global average decreases even further
The 2022 Corruption Perceptions Index (CPI) released today shows that most countries are failing to stop corruption with 26 countries reporting their lowest ever scores and 155 countries showing no improvement since the index began in 2012. The CPI, published annually by Transparency International, is the world’s most widely used corruption ranking.
FreeBalance Customer CPI Performance
FreeBalance’s analysis of the published results shows that the global average has declined by 0.2% over the last ten years, yet FreeBalance customers have improved their scores by 3.8%. In the last three years especially, a trend has begun to emerge showing that countries using FreeBalance Accountability Suite™ are steadily improving, while the rest of the world declines.
Government Resource Planning Systems as a Tool to Fight Corruption
This improvement is largely due to Public Financial Management (PFM) reform programs in those countries support by FreeBalance’s products, solutions, services and training. As the world’s first global Government Resource Planning (GRP) provider, FreeBalance has unrivalled experience in PFM reform and is committed to improving public sector governance, accountability and transparency. FreeBalance solutions include public expenditure tracking systems and government performance management software that can monitor public funds and help governments eliminate corrupt practices.
Government Resource Planning (GRP) systems are important preventative measures in the fight against corruption. GRP works by laying down an enterprise-grade ICT Platform as the foundation, making sure user groups are restricted with defined controls. Additionally, Public Financials Management functionality like commitment accounting ensures that allocated funds aren’t overspent and that related transactions are tracked thanks to the integration with the budget passed by the legislature.
Building Trust in Government
When governments use GRP solutions such as the FreeBalance Accountability Suite™, citizens in those countries are more likely to trust their public sector institutions and report corruption. This leads to greater public accountability and improved perceptions of corruption, which is reflected in the CPI scores.
The latest CPI results demonstrate that PFM solutions such as the FreeBalance Accountability Suite™ are effective in improving public sector accountability and reducing corruption in government. FreeBalance customer governments deserve this recognition for the hard work and tough decisions required for a successful PFM reform program.