Department of Budget Management to implement FreeBalance Accountability Suite™ as part of government-wide digitalization strategy
Ottawa, Canada (December 6, 2024) – FreeBalance, a global provider of government-specific digital public financial management (PFM) solutions and services, today announced that the Philippines’ Department of Budget and Management (DBM) has selected the FreeBalance Accountability Suite™ to support the digitalization of its Budget and Treasury Management System (BTMS).
The BTMS will serve as the government’s centralized financial management and reporting hub, ensuring real-time monitoring of transactions across all agencies. This will significantly enhance transparency, accuracy, and efficiency in managing budgets, expenditures, and financial performance. Additionally, the transition to a cloud-based deployment further strengthens system reliability, cybersecurity, and scalability.
The integrated BTMS is a cornerstone of the Public Financial Management (PFM) Reforms Roadmap 2024–2028, reinforcing its goals of fiscal discipline, allocative efficiency, and operational efficiency. The roadmap outlines a transformative agenda to modernize and harmonize the government’s financial systems. By connecting disparate financial processes and ensuring uniformity across agencies, the BTMS directly contributes to the roadmap’s objective of a unified and transparent PFM ecosystem.
By improving cash flow forecasting and tracking actual versus planned spending, the system will enhance fiscal management and streamline payment processes. It will also enforce consistent standards for transactions involving suppliers, employees, and other payees. Tailored reporting capabilities will empower the 200+ National Government Agencies (NGAs) utilizing the system to access the precise data needed for decision-making.
FreeBalance President and CEO, Manuel Schiappa Pietra, commented: “The BTMS is an essential component of the Philippines’ broader public financial management reforms. By enabling real-time financial tracking and integrating systems across agencies, the BTMS strengthens the government’s capacity to achieve the transparency and efficiency outlined in the PFM Reforms Roadmap. It is a privilege to support the DBM in this transformative effort to enhance public trust and optimize resource management.”
The announcement follows successful deployments in other countries, including the Federated States of Micronesia y Costa Rica, showcasing FreeBalance’s role as a trusted partner in advancing public financial management globally. The BTMS implementation in the Philippines will be supported by FreeBalance’s expert teams in Manila and worldwide.
From left to right: Canadian Minister of Export Promotion, International Trade and Economic Development Mary Ng, FreeBalance President and CEO Manuel Schiappa Pietra, Secretary of the Philippines’ Department of Budget and Management Amenah F. Pangandaman, and Undersecretary Maria Francesca M. Del Rosario.
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