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FreeBalance Fundamentals

Fri, 2011-01-07 15:46 — 29

Governments across the world are modernizing and improving the effectiveness of Public Financial Management (PFM) systems.  Within the context of accelerated globalization, PFM systems are an essential part of the development process.  Information technology provides the key ingredient for the success of PFM reforms and modernizing fiscal management practices to support country growth.

Government Resource Planning (GRP) systems assist governments in achieving aggregate fiscal control and better management of public funds.  FreeBalance provides integrated GRP software to governments worldwide.

About FreeBalance

Founded in 1984, FreeBalance is a for-profit social enterprise and leading global provider of government resource planning software solutions for public financial management. FreeBalance solutions support government modernization, fiscal decentralization, and public finance reform.  Public financial management reform is a key element of good governance and sustainable development.

FreeBalance is headquartered in Ottawa, Canada, with sales and support offices in Washington, DC (United States), Lima (Peru), Lisbon (Portugal), London (Great Britain), Pristina (Kosovo) and St. John (Antigua and Barbuda).  FreeBalance solutions have been implemented in countries across the globe, including Canada, United States, Sierra Leone, Guyana, Pakistan, Mongolia, Afghanistan, Antigua & Barbuda, Timor-Leste, Republic of Kosovo, and Panama.

The FreeBalance Accountability Suite is a commercial off-the-shelf Integrated Financial Management Information System (IFMIS). The software has been designed specifically for government financial management.  This design enables quick software configuration to government requirements and rapid implementation across all levels of government. This government-specific functionality includes international standards, commitment accounting, and budgetary controls.

The FreeBalance Accountability Suite supports all aspects of the budget cycle and provides fiscal control over fund allocations, expenditures, appropriations, revenue administration, and civil service management.

FreeBalance software is the most-widely deployed financial management application inside the Government of Canada. FreeBalance software is used by more than 30,000 public finance managers to manage billions of dollars of government expenditures and more than 700,000 public servants worldwide.