Corruption is a pervasive problem in developing countries that has far-reaching negative impacts on their economies, political systems, and social fabric. In this blog post, we will explore the impacts of corruption on developing countries and the role of smart Public Financial Management (PFM) systems in combatting corruption and promoting good governance, transparency, and sound … Continued
The notion of technology leapfrog is that developing countries can skip the incremental steps taken for developed countries to modernize. Yet, isn’t government performance management too complex for developing countries? Not necessarily – as we have seen in Timor-Leste where performance dashboards are used and government results provided to the public.
FreeBalance presentation at ESAAG event to focus on the governance opportunity in developing countries and the use of technology to drive PFM reform and modernization Ottawa, Canada (PRWEB) October 16, 2013. FreeBalance, a leading vendor of Government Resource Planning (GRP) software, has been invited to speak at the East and Southern African Association of Accountants … Continued
In countries emerging from conflict, the lack of an effective Government Resource Planning (GRP) system can lead to a range of problems, including the mismanagement of public funds and corruption which exacerbates poverty and civil unrest. A well-functioning GRP system is essential for any country looking to secure a sustainable future.
Industry 4.0, or the Fourth Industrial Revolution (4IR), challenges Emerging Markets and Development Economy (EMDE) government to “reassess their national competitive advantages and development strategies1.” Developed countries benefit from advanced technology manufacturing, intellectual property, and knowledge economies. Limited retooling is required in these countries to exploit Industry 4.0. Developed country governments exhibit sophisticated policy design. … Continued
Doug Hadden, VP Products This is an update of the presentation from the FreeBalance International Steering Committee 2011 conference in Portugal – with script. Technology leapfrog in government transparency developing countries Highlights: Globalization increasing competition and pressure to improve governance Budget transparency is a key opportunity to improve business and citizen confidence Challenges can be … Continued
In the latest of a series of posts reflecting on October’s IMF/World Bank annual meetings in Morocco, we share key takeaways and observations on the topic of public investment management. Polycrisis or permacrisis? Listening to the wide range of speakers across the week-long event brought to mind the joke about the pessimist and the optimist: … Continued
What is the state of global Public Financial Management (PFM)? What reforms should governments prioritize? These questions were answered at a highly interactive conference in Washington DC. Emphasis was put on interactive table discussions and workshops leading to more lessons learned. Participants shared public finance resilience lessons when facing poly-crises. Sessions covered the impacts of … Continued
The recent Budgets and Bytes event hosted by the Overseas Development Institute (ODI) for the launch of their new digital public financial management (PFM) hub and white paper entitled Digital Public Financial Management: An Emerging Paradigm are a great first step to get consensus around the challenges and opportunities, but in our view there is still lots lots needed to integrate public finance, economics, and digital technology.
This blog discusses the key differences between civil service management and human resources in the private sector, including the importance of budget planning, payment management and commitment control. It also explains why private sector HR solutions may be inappropriate for civil service management and outlines considerations for success in both the public and private sectors.
For the last four decades, FreeBalance has helped governments around the world implement PFM reform to support their goals. While improved Public Financial Management does not offer a universal solution for all government challenges, it is critical nonetheless. The PFM toolkit offers governments the opportunity to manage global risks and build country resilience.