../Morning Post
Posted April 18, 2011

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Economy

World Bank Economic Premise Note concludes that FreeBalance Government Resource Planning customers Afghanistan, Kosovo, Sierra Leone Demonstrate Most Substantial PFM Progress

Ottawa - FreeBalance, a For Profit Social Enterprise software company that helps governments around the world to leverage robust Government Resource Planning technology to accelerate country growth, is pleased to announce that the governments of Afghanistan, Kosovo, and Sierra Leone recently received a rating of “substantial” for public financial management (PFM) rebuilding and reform progress. For more details, please refer to the April 2011 World Bank Economic Premise note titled "Strengthening Public Financial Management in Postconflict Countries."

The authors, Verena Fritz, Edward Hedger, and Ana Paula Fialho Lopes from the World Bank and the Overseas Development Institute, analyzed eight post-conflict countries. Only those governments that have implemented the FreeBalance Accountability Suite achieved the rating of “substantial”. The Government of Liberia is currently in the pilot phase of implementing the FreeBalance Accountability Suite. The report found that “The three countries showing most substantial overall PFM progress—Afghanistan, Kosovo, and Sierra Leone—are also those where automation of PFM systems moved most quickly.” The FreeBalance Accountability Suite is distinguished by the ability to implement quickly and progressively activate.

"Congratulations to the governments of Afghanistan, Kosovo, and Sierra Leone on progress achieved in public financial management progress and reform," said Manuel Pietra, President & CEO at FreeBalance. "FreeBalance is pleased to be working with these governments as they demonstrate leadership in modernising public financial management systems. FreeBalance helps these governments achieve public financial objectives by listening to customers and focusing exclusively on the GRP domain."

FreeBalance uniquely supports PFM reforms in emerging and post-conflict countries. According to the report, “strengthening PFM in fragile states is possible and can progress quite quickly. Achievements in Afghanistan, Kosovo, and Sierra Leone have been relatively rapid and substantial. These cases show that reform progress can be made under difficult circumstances—including high levels of continuing insecurity (Afghanistan), absence of any prehistory of independent statehood (Kosovo), and acute levels of underdevelopment (Sierra Leone).”

FreeBalance has successfully assisted governments to implement modern PFM systems in challenging circumstances. The FreeBalance Accountability Suite has been implemented in emerging nation governments where there has been limited connectivity, low bandwidth, lack of electrical power, and low human capacity. FreeBalance has developed a methodology to improve implementation success that includes project governance, change management and progressive activation of system features.

FreeBalance Accountability Suite Version 7 offers a pure web-based platform that has been optimized for rapid government deployment, operational effectiveness. It is ideal for the needs and requirements of emerging and post-conflict governments. The FreeBalance Accountability Suite covers the entire budget cycle including financial and human resources transparency to improve governance and trust.

The FreeBalance Accountability Suite is distinguished by strong and flexible budget control. Recent innovations from FreeBalance include Transparency and Procurement portals to improve government accountability.

Submit press release to pressrelease@exchangemagazine.com - Editor Jon Rohr - Content published on this site represents the opinion of the individual/organization and/or source provider of the Content. ExchangeMagazine.com is non-partisan, online journal. Privacy Policy. Copyright of Exchange produced editorial is the copyright of Exchange Business Communications Inc. 2010/*.*. Additional editorials, comments and releases are copyright of respective source(s) and/or institutions or organizations.

 

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