Gov’t taps Globe to fix budget management system
GLOBE Telecom has sealed a P495-million deal to provide a fiscal management solution for the Philippine government, a statement on Monday showed.
Globe, through wholly-owned subsidiary Innove Communications, said the agreement would allow the government to execute and monitor annual budgets “in a manner that is more transparent to the public.” The project would be used by the Department of Budget and Management, the Bureau of the Treasury and the Commission on Audit.
Globe said the budget and treasury management system was expected to be the main source of information on government budgets, appropriations, allocations, releases, obligations, expenditure and performance reporting.
This system would eventually be rolled out to the rest of the government agencies and operating units, Globe added.
“Globe and its units are fully committed to nation-building by helping the government raise its ICT (Information Communications Technology) capabilities to enhance delivery of public services for the benefit of the country as a whole,” Innove president and CEO Gil Genio said in the statement.
The firm said this solution would also provide online and updated, readily accessible information on allocations, liabilities, payments, receipts and account balances and would generate reports to suit specific needs of agency users. The system was seen to improve accuracy of cash flow projections, planned versus current expenditures, revenue and debts, thus minimizing borrowing costs and improving fiscal forecasting.
Moreover, it would enable application of common controls and standards across spending agencies for recording, processing and releasing of payments to suppliers, employees and other payees.
To implement the project, Innove entered into a joint venture partnership with Canada’s FreeBalance, a provider of software solutions for public financial management.
Globe said Innove would assume the role of lead partner providing the hardware platform and local support services as well as the overall solution integrator while FreeBalance would provide the solution software and related services.
“FreeBalance works directly with governments to accelerate the reform process with sustainable technology. We fundamentally believe that good governance provides improved development outcomes and enhances citizen services,” FreeBalance president & CEO Manuel Pietra said in the same statement.
FreeBalance helps governments around the world leverage technology to accelerate country growth. The FreeBalance Accountability Suite has been successfully deployed in 22 countries around the world.
