FreeBalance Accountability Suite(TM) Goes Live in Brazil to Support Public Financial Management (PFM) Reform

FreeBalance Accountability Suite(TM) Goes Live in Brazil to Support Public Financial Management (PFM) Reform

OTTAWA, ON / ACCESSWIRE / January 12, 2023 / FreeBalance, a world-wide Public Economic Administration (PFM) answers and advisory services organization, today introduced that the new, unified money details management program implemented for the Condition of Pará, Brazil went live yesterday. The Sistema Integrado de Administração Estadual (SIAFE) leverages the Professional Off-the-Shelf (COTS) FreeBalance Accountability Suite™ as the monetary system of record for the 216 administration administration units throughout the legislative, judicial and govt branches of the Government of the Point out of Pará.

The SIAFE project was funded by the Inter-American Enhancement Financial institution (IDB) to promote the integration of the fiscal units from distinctive States and to modernize the fiscal, money and asset management of Brazil. The SIAFE is component of the IDB’s Profisco II project which aims to improve budgetary and economical preparing and community financial debt administration and to modernize the State’s accounting details system.

The start took area in Belém and was attended by a lot more than 400 civil servants and dignitaries, such as Hana Ghassan Tuma, Vice Governadora of Pará, René de Oliveira e Sousa Júnior, Secretary of Finance, Elieth de Fátima da Silva Braga, Secretary of Setting up and Administration, and Manuel Schiappa Pietra, President and CEO, FreeBalance. The SIAFE launch marks an crucial milestone in Brazil’s Community Money Administration (PFM) reforms and the a great deal-necessary modernization of legacy programs throughout the country’s condition governments.

The Honorable Vice Governadora, Hana Ghassan Tuma, mentioned: “The implementation of the SIAFE is a major achievement for the State of Pará. The skill to regulate the public funds of our Point out in an built-in and clear method will drastically enhance governance and provider delivery and present day launch represents an critical action forward in support of the citizens of Pará.”

FreeBalance’s implementation of the FreeBalance Accountability Suite™ enables the Secretariat of Finance, Pará (SEFA) to undertake the Brazilian Accounting Criteria Utilized to the Community Sector (NBCASP) and to modernize scheduling, budgeting, public expenditure, accounting, reporting and treasury features. FreeBalance is responsible for all implementation, configuration, integration, information migration and for the schooling of 1,800 end users. As with all FreeBalance implementations, the enterprise recognized a community business and hired a area group in Belém to supply and supply ongoing guidance and sustainability services for the task.

Manuel Schiappa Pietra, President and CEO of FreeBalance explained: “Making authorities capacity and supporting federal government digital transformation is FreeBalance’s core mandate as a function-led organization. Our programs, solutions and products and services are all aimed at increasing governance, accountability and transparency in govt so as to make improvements to citizen wellbeing. We congratulate the State of Pará on this historic occasion and we search ahead to continuing to aid the PFM reform journey in Brazil.”

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About FreeBalance

FreeBalance is a reason-led corporation devoted to strengthening citizen wellbeing and combating corruption around the world. With a approximately 40-year monitor record of achievement and functions 25+ nations, FreeBalance has unparalleled knowledge in general public finance reform as a specialised company-to-government (B2G) company. FreeBalance Community Economical Management (PFM) alternatives, advisory solutions and schooling supply real looking and impactful community sector reform that improve transparency, increase success, restore trust and create innovation breakthrough chances.

The FreeBalance Accountability Suite™ is a professional off-the-shelf, Govt Resource Setting up (GRP) alternative that addresses the whole spending plan cycle and manages all vital authorities fiscal devices. It is the only PFM alternative created completely with authorities, for govt. The suite presents a versatile, modular financial administration technique that can be progressively activated and scale to replicate the evolving needs of authorities.

Source: FreeBalance

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