Ottawa (10 September 2020) – FreeBalance today announced that it has won a multi-year contract, financed by the Inter-American Development Bank, to provide both Public Financial Management (PFM) solutions and advisory services to the State of Pará, Brazil. The project will help the State of Pará accelerate reforms and provide a much-needed modernization of legacy systems.

Brazil has systemically been converging its accounting practices with international standards over the last few years and changed the budgetary, financial, property and management procedures of the Administration to private sector standards.

FreeBalance, the world’s leading business-to-government (B2G) firm, will deploy its Financial Core Accountability Suite, allowing the Department of Finance of the State of Pará to achieve secure financial management, monitoring the application of public resources, with a detailed, integrated and transparent view of the actions in the various agencies. At the recent signing ceremony, the Secretary of Finance, René de Oliveira referred to the project as a “milestone” for the State of Pará.

Manuel Schiappa Pietra, President and CEO of FreeBalance, said: “The State of Pará is our fifth implementation in Central and South America and an important entrée into Brazil – a valuable new market for the company with tremendous growth potential. In line with our purpose to create smart prosperity, we actively seek to work in markets where we can make a significant impact on the wellbeing of citizens by helping enlightened leaders to achieve good governance and sustainable growth.”

As with all FreeBalance implementations, using local talent and providing knowledge transfer to local teams is an integral part of the project.

Related Press Releases

FreeBalance Accountability Suite™ Goes Live in Brazil

FreeBalance Accountability Suite™ Goes Live in Brazil

The Sistema Integrado de Administração Estadual (SIAFE) leverages the FreeBalance Accountability Suite as the financial system of record for the 216 administration management units across the Government of the State of Pará.

FreeBalance to Deliver Budget Preparation Solution to Government of Tunisia

FreeBalance to Deliver Budget Preparation Solution to Government of Tunisia

FreeBalance’s government budget preparation solutions and services to support enhanced governance, transparency and accelerate public financial management reform in Tunisia.

Government of Kiribati Selects FreeBalance to Deliver IFMIS and Support PFM Reform

Government of Kiribati Selects FreeBalance to Deliver IFMIS and Support PFM Reform

FreeBalance PFM solutions to strengthen public financial management reform in Kiribati. Find out more.

Contact