Enabling PFM Reform that Matters
FreeBalance Accountability Suite™
FreeBalance has worked alongside the public sector for almost 40 years to develop and deliver government software solutions that support Public Financial Management (PFM) reform and modernization.
The FreeBalance Accountability Suite™ is a commercial off-the-shelf, Government Resource Planning (GRP) solution that covers the entire budget cycle and manages all critical government fiscal systems.
The only PFM solution designed exclusively by government, for government
Across 25+ countries, the FreeBalance Accountability Suite™ is trusted to manage $413 billion in budget dollars. This is more than just budgeting. FreeBalance solutions empower governments to deliver economic growth, accountability and transparency to their citizens. The FreeBalance Accountability Suite™ is available in six base configurations to meet different government resource planning (GRP) requirements.
Government Performance Management empowers governments to achieve better results through access to data. Tying performance directly to budgeting allows for improved outcomes.
Commitment accounting and budget management are unique to the public sector, enabling budgetary and commitment controls. This includes budget and commitment accounting, assets and inventory.
Public Expenditure Management manages all functions related to government spending. Due to the unique needs of government this exceeds typical accounts payable functionality and includes expenditures, purchasing, procurement, grants and social programs.
Treasury Management enables governments to manage debt and investments. This includes bank reconciliation and cash management.
Governments raise revenue and collect receipts through a number of means. This includes non-tax revenue, taxation, and billing and receipts.
FreeBalance Accountability Platform™
The entire FreeBalance portfolio is built on the FreeBalance Accountability Platform™, a web-based, Java-powered platform designed exclusively for government financial management. The platform supports centralized, decentralized or hybrid deployment models.
Postmodern Design through ease of integration, massive configurability and flexible on-premises, private cloud, public cloud, community cloud and shared services support
Web Native using international web standards, no legacy software code deployed via the web and no web translation layer
Open System supporting robust open source and commercial infrastructure through recognized industry standards, providing more choices
Unified Design through component reuse across all applications, centralized metadata management, with ease of reporting
Highly Extensible supporting additional functions and custom development thanks to a Service Oriented Architecture (SOA) and component reuse across applications
Progressive Activation enables future configuration changes, process modernization, fiscal decentralization, and adding additional modules
To ensure a low total cost of ownership, the FreeBalance Accountability Platform™ provides many efficiencies for government which means value for taxpayers:
Ability to add modules over time enables governments to implement critical functions based on the country context. A quicker path to value for money.
Support for Modernization
Progressive activation to support reform and modernization.
Minimal IT Support
Optimized technical footprint reduces the burden on IT to manage computer systems, networks and middleware software.
International Financial Standard
The FreeBalance Accountability Suite™ supports the highest international standards for fiscal management and accounting, including those from:
International Monetary Fund
International Financial Reporting Standards (IFRS)
Millennium Challenge Corporation (MCC)
What is Public Financial Management (PFM) Software?
Public Financial Management (PFM) software is an integrated financial management system used by governments to manage the entire budget cycle. This includes budget formulation, budget execution, accounting and reporting, and audit. Typically, all ministries, departments and spending agencies of a government are connected to a single, unified system. PFM software is also known as GRP or government resource planning software.
The FreeBalance Accountability Suite™ is a government software solution designed specifically for public financial management.