Government Treasury Management
Enables governments to manage cash, debt and investments
Government Treasury Management Solution Overview
(GTM) Government Treasury Management software supports bank reconciliation and manages cash, debt and investments. The system harmonizes treasury operations across all levels of government, mitigates fiscal risk and maximizes government funds through effective forecasting. Features include:
Bank Reconciliation
Supports multiple currency management including reconciliations, foreign exchange gains and losses, and migration to a Treasury Single Account (TSA).
Cash Management
Supports liquidity through cash forecasting based on the commitment cycle, historical trends and management reports.
Debt and Investment Management
Ensures debt obligations are met on time and helps treasury teams to manage the government’s investment portfolio.
Government Treasury Management Modules
(GTM) Government Treasury Management is one of the six core product pillars within the FreeBalance Accountability Suite™ and is composed of a number of modules that can be implemented as a standalone or part of a unified solution. The GTM pillar enables governments to manage debt and investments.
(GTBR) Bank Reconciliation
Automatic multi-currency bank reconciliation.(GTBT) Bank Account Transfers
Provides the functionality to execute individual or grouped bank account transfers.(GTDM) Debt Management
Models and plans for short-term and long-term debt instruments.(GTLN) Loans Management
Manages the eligibility, approvals and creation of loans issued to both individuals and organizations.
(GTCM) Cash Management
Enables the forecasting of cash availability to reduce debt and increase investment income.(GTIM) Investment Management
Investment management that supports the investment sub-ledger, investment illustration and integrates with government accounting.(GTLM) Liquidity Management
Provides for the administration of and accounting for all transactions related to investment funds.
What is Government Treasury Management?
Government Treasury Management is the management of the government’s cash flows and liquidity, its banking and capital market transactions, and most importantly, the associated risk management using treasury management software.What are the Benefits of Government Treasury Management?
An integrated and unified public sector treasury management solution like the FreeBalance Accountability Suite™ enables a government to effectively harmonize all of its treasury operations across all levels of government, mitigate fiscal risk and maximize spending through effective forecasting. Benefits include:
Cash and Liquidity Management
Predicts cash flow requirements to optimize cash reserves.Bank Reconciliation
Reconciles ledgers with cash receipts, as well as payments at banks.Debt Management
Manages all government debt commitments.
Treasury Single Account
Migrates bank accounts to a single account to effectively manage reserves, investments and debt.Investment Management
Manages all government investments with financial instruments.
Frequently Asked Questions
Find answers to commonly asked questions about FreeBalance’s Government Treasury Management Solution.
The (GTM) Government Treasury Management pillar of the FreeBalance Accountability Suite™ is an essential tool for governments and other public institutions to manage their financial resources effectively. The system automates and streamlines financial processes relating to cash, debt and investment management, enabling real-time monitoring, forecasting, and analysis of financial activities. The adoption of FreeBalance’s treasury management software leads to increased efficiency, better decision-making, and improved financial governance.
The FreeBalance (GTM) Government Treasury Management software helps governments to improve their treasury processes by ensuring that the government has enough cash to meet its financial obligations while also maximizing the returns on its cash balances. It also helps to optimize the government’s debt and investment portfolios.
FreeBalance’s (GTM) Government Treasury Management software offers a variety of features to streamline financial processes for governments. Cash and liquidity management is a key feature that predicts cash flow requirements to optimize cash reserves. Bank reconciliation is another important feature that reconciles ledgers with cash receipts and payments at banks. The debt management feature effectively manages all government debt commitments, while the treasury single account feature migrates bank accounts to a single account to effectively manage reserves, investments, and debt. Finally, the investment management feature manages all government investments with financial instruments.
FreeBalance’s (GTM) Government Treasury Management pillar is fully integrated with all other pillars and modules of the FreeBalance Accountability Suite™ and shares the same unified platform, the FreeBalance Accountability Platform™. It provides real-time data analytics and performance metrics through several key features:
- Data integration: The software is designed to integrate with a range of data sources, including government financial systems, HR systems, and other data sources. This allows governments to access real-time data on performance metrics such as revenue collection, service delivery, and program outcomes.
- Data visualization: The software includes powerful data visualization tools that enable governments to create graphs, charts, and other visualizations of their performance data. These visualizations provide real-time insights into government performance, enabling governments to identify trends and patterns in their data.
- Dashboards: The software includes customizable dashboards that display performance metrics in real-time. These dashboards can be configured to meet the specific needs of different stakeholders, providing quick access to the information that is most important to them.
- Alerts: The software includes alerting functionality that can be configured to notify government officials and other stakeholders when performance metrics fall outside of predefined thresholds. This enables governments to take corrective action in real-time, before issues become more serious.
- Performance tracking: The software allows governments to track performance metrics over time, providing real-time insights into how government performance is changing over time. This enables governments to identify areas where performance is improving and areas where additional interventions may be needed.
FreeBalance’s GTM software provides real-time data analytics and performance metrics by integrating with a range of data sources, visualizing performance data, providing customizable dashboards, alerting stakeholders to performance issues, and tracking performance over time. This enables governments to make data-driven decisions in real-time, improving their ability to deliver services effectively and efficiently.
The FreeBalance Accountability Suite™ is massively configurable and highly extensible meaning that it is able to meet any government need. Many PFM experts don’t see much of a difference between configuration or customization – often referring to any adaptation as “customization”. We’ve been talking about the difference for some time and the industry has finally caught up to us by defining configuration as “no-code” customization.
FreeBalance’s (GTM) Government Treasury Management software is highly configurable and requires little to no software development to meet specific government needs. Some of the ways that the software can be configured include:
- Metrics: Governments can define their own performance metrics, enabling them to track performance against their own objectives and priorities.
- Dashboards: The software includes customizable dashboards that can be configured to display the information that is most important to different stakeholders. Governments can configure dashboards to display metrics, reports, and other information in a way that meets their specific needs.
- Reports: The software includes a range of standard reports, as well as tools for creating custom reports. Governments can create reports that meet their specific reporting requirements, including different data sources, time periods, and report formats.
- Alerts: The software includes alerting functionality that can be customized to meet specific needs. Governments can configure alerts to notify different stakeholders when performance metrics fall outside of predefined thresholds.
- Workflows: The software includes workflow management tools that enable governments to customize the GTM process to their specific needs. Governments can configure workflows to match their specific business processes, including data collection, analysis, and reporting.
FreeBalance’s GTM software is highly configurable, enabling governments to tailor the software to their specific needs. This helps governments to implement performance management processes that are aligned with their unique objectives, priorities, and business processes.
Additional Reading
Implementing Government Treasury Management Tools Across the Digital Journey In an earlier article we explored the journey which governments go on when they begin to use digital tools for public financial management, and discussed the different stages of an organization’s digital evolution through digitization, digitalization, and digital transformation.
Role of Treasury Management Systems Government financial management and accounting are different from that of private businesses. The accounting principles and regulatory requirements are unique to governments. For instance, governments have to maintain a high level of transparency and accountability, which requires the use of specialized accounting standards. Private sector ERP systems are not designed to handle these specific requirements and may not provide the necessary features to comply with the government's regulatory and reporting requirements.
The Benefits of Government Treasury Management Treasury management refers to the process of managing an organization's financial resources, including its cash, investments, and liabilities. Government Treasury Management is a critical aspect of fiscal governance that helps countries manage their financial resources, support economic growth, and ensure transparency and accountability in public finances. A well-managed treasury system can provide governments with the necessary resources to fund public services and investment in infrastructure, education, and health. This is where the FreeBalance Accountability Suite™ comes into play.Want to know more? Please fill out the form below.
Contact FreeBalance to learn how we can help improve the effectiveness of your public sector treasury operations.