Many government financial management projects have proven financially unsustainable.
Ottawa, Ontario (PRWEB) November 27, 2012
FreeBalance, a leading vendor of Government Resource Planning (GRP) software, today released a Public Financial Management (PFM) good practice White Paper “GRP Sustainability and Total Cost of Ownership” at the Financial Management Institute of Canada conference, Focus on Value.
Government organization are increasingly adopting Commercial-Off-the-Shelf (COTS) software to replace legacy and custom developed software applications for financial, budget, expenditure, tax, treasury and civil service management. COTS choices include Enterprise Resource Planning (ERP) software from large software firms whose software is used in multiple “vertical” markets, and Government Resource Planning (GRP) software designed exclusively for governments.
The White Paper leverages research from developed country governments and technology analysts to identify the leading causes of failure in COTS PFM implementations. “Many government organizations are looking to an improved Information Technology value for money,” said Manuel Pietra, FreeBalance President and CEO. “Many government financial management projects have proven financially unsustainable.”
The White Paper concludes that software designed for private sector financial management often requires significant code customization. This customization leads to high long-term cost.
FreeBalance helps governments around the world leverage robust Government Resource Planning (GRP) technology to accelerate country growth. FreeBalance is a recognized as leader in fast, adaptable and successful GRP implementations. FreeBalance software manages a global civil service workforce of 1,500,000, and a quarter trillion ($US) annual budgets worldwide. FreeBalance provides software solutions for public financial and human resource management, and supports reform and modernization to improve governance, transparency and accountability. Good governance is required to improve development results. For more information, visit http://www.freebalance.com.