THE Department of Budget and Management (DBM) has tapped FreeBalance Inc. for DBM’s new Budget and Treasury Management System (BTMS), the Ottawa, Canada-based firm said.
FreeBalance, which sells a commercial off-the-shelf government resource planning solution in Web-based and client-server configurations, said in a statement it is working with Innove Communications Inc. (ICI) in a joint venture on the BTMS project. ICI, a wholly-owned unit of Globe Telecom Inc., will provide the infrastructure systems and local support services, FreeBalance said in a statement.
FreeBalance said the Philippine government will use its solutions to automate public finance transactions related to the budget, including budget management, commitments management, payments management, receipts management, cash management, accounting, and fiscal reporting. The company did not disclose the amount of the contract it has with the DBM.
The company said the BTMS is an integrated budget and treasury management information system. “The initial deployment of the BTMS will help the DBM, Bureau of Treasury and Commission on Audit automate and modernize budget execution and accountability,” it added. FreeBalance added its solution will enable the Philippine government “to improve governance by taking advantage of web-native technology to improve transparency, accountability and development outcomes.”
“The implementation of a modern PFM [public financial management] system will enable us to build a foundation for growth while building the capacity we need to sustain the reform process and achieve results,” Budget Secretary Florencio B. Abad was quoted in a statement as saying.
The Philippines adds to a growing list of FreeBalance government customers in Asia, which includes Sri Lanka, Afghanistan, Mongolia, and Timor-Leste. “Governments in Asia and around the world are under increased pressure to put systems in place to automate good governance and provide enhanced accountability and transparency,” said, FreeBalance President & CEO Manuel Pietra was quoted in the statement as saying.