Search Results for performance budgeting

Unsustainable Levels of Public Debt – A Global Crisis

Lurking behind every session at the Annual Meetings was the impact of the global public debt crisis on citizens. The question being asked by everyone was: how can governments and the international community deal with poverty, food insecurity, inflation, and climate change with disappearing fiscal space? Learn more.

Progressive Activation for Sustainable PFM Reform

The establishment of an IFMIS is an important benchmark for a country’s PFM reform agenda. Read how FreeBalance’s progressive activation approach delivers good governance.

Public Financial Management and the Budget Cycle

Public Financial Management (PFM) is the process by which governments raise and spend public funds. It encompasses everything from budgeting, revenue collection, and expenditure management to treasury operations, auditing and civil service management. The budget cycle is the series of steps that governments follow to prepare, approve and implement their annual budgets.

FreeBalance Supports PFM Reform with Medium-Term Budgetary Frameworks

One of the most important elements of PFM reform is improved support for MTBFs. However, the challenge that governments face is how to operationalize this MTBF good practice within the context of PFM reform. There are a number of key considerations for governments when operationalizing MTBFs. Learn more.

Government

Practical Advice on Optimizing your GRP Project

FreeBalance conducts internal Financial Management Information System (FMIS) implementation audits. The process has been perfected over time with over 100 performance indicators.

The Enterprise Software Market is Changing. Are You Ready?

The strategic inflection point for transformation in the enterprise software market was the point where economies of scale changed to favour nimble over bloated enterprise software companies. There are important lessons to be learnt in why and how this happened.

Lessons in PFM Resilience

A war, pandemic, COP-26 and natural disaster ‘wake-up’ calls around the world. Public sector resilience certainly is being tested.

Why Human Capital Management is Different in Government

At around 20% of total country employment, and 15% of annual GDP in wage bills, salary budget scrutiny, risk management, and spending predictability is critical in government.

PFM Reform Good Practices

FreeBalance has been involved in PFM reform in developing countries for decades. In our experience, the good practices are more effective than blindly following ‘best practices’.

How to Modernize FMIS Procurement

So, how can governments modernize procurement to improve FMIS success rates when developing Requests for Proposals (RFPs)? Our experience recommends that governments should question FMIS procurement practices that are based on the rationale that this is ‘how it has always been done’ and address ‘risky’ risk management as follows:

The FreeBalance Governance Framework

GRP solutions such as the FreeBalance Accountability Suite™ are used to automate financial functions in government and provide a set of tools that are used by civil servants whose capabilities either improve or reduce government effectiveness. This has positive or negative effects that are exposed in measures like credit ratings, the Corruption Perception Index and other important composite indicators like World Governance Indicators.

The Importance of Interoperability in Government eProcurement

Public procurement is the main driver of government operations. Globally, governments spend $13 trillion a year on public procurement contracts. For every $3 of public spending, $1 goes to private contractors tasked with implementing government projects. Public procurement can account for around 13% to 15% of GDP. This means that a good public procurement process … Continued

How to Design a Financial Management Information System

We would like to extend concepts introduced in the paper through the lens of enterprise software technology and implementation practices with a few recommendations.