The Government of Kosovo has selected FreeBalance to support three new projects which will improve procurement, invoice tracking and transparency of public finances.
Since 1999, FreeBalance has proudly supported the Government in the development, implementation, and ongoing maintenance of the Kosovo Financial Management Information System (KFMIS), a multi-language (English, Albanian, and Serbian) system that supports all ministries and municipalities and effectively manages the entire government payroll. 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.
The second project focuses on a vendor invoice tracking system, which will streamline the entire invoicing process, from submission to approval and payment. 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 the provision of an application that facilitates the process of the interaction 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 24 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.
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