Government of the Philippines Accelerates PFM Reform with FreeBalance Technology

FreeBalance, a leading vendor of Public Financial Management (PFM) solutions, today announced that the Government of the Philippines will be leveraging FreeBalance technology as the platform for its new Budget and Treasury Management System (BTMS). The BTMS is an integrated budget and treasury management information system. The initial deployment of the BTMS will help the Department of Budget and Management, Bureau of Treasury and Commission on Audit automate and modernize budget execution and accountability.

The FreeBalance solution will enable the Government of the Philippines to improve governance by taking advantage of web-native technology to improve transparency, accountability and development outcomes. “The Government of the Philippines is committed to strengthening the public sector through good governance and enhanced service delivery to citizens,” said Florencio B. Abad, Secretary of the Department of Budget and Management. “The implementation of a modern PFM system will enable us to build a foundation for growth while building the capacity we need to sustain the reform process and achieve results.”

The Philippines adds to a growing list of FreeBalance government customers in Asia, which includes Sri Lanka, Afghanistan, Mongolia, and Timor-Leste. “Governments in Asia and around the world are under increased pressure to put systems in place to automate good governance and provide enhanced accountability and transparency,” said Manuel Pietra, President & CEO of FreeBalance. “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 solutions will be used by Government of the Philippines to automate public finance transactions related to the budget, including budget management, commitments management, payments management, receipts management, cash management, accounting, and fiscal reporting.

FreeBalance is working with Innove Communications, Inc. in a Joint Venture on the BTMS project. Innove Communications is a wholly-owned unit of Globe Telecom and will provide the infrastructure systems and local support services. “As the leading provider of ICT solutions in the Philippines, Globe is committed to nation-building by helping our government raise and enhance its ICT capabilities to enhance the delivery of services for the benefit of the country as a whole,” said Globe Chief Technology and Information Officer Gil Genio. The BTMS supports ongoing government reform initiatives and will ensure that budget and treasury management is aligned with broader national goals and objectives.

About FreeBalance
FreeBalance helps governments around the world leverage robust Public Financial Management (PFM) technology to accelerate country growth. FreeBalance software solutions for public financial and human resource management increase transparency and accountability to improve governance and reduce corruption. For more information, visit the FreeBalance website or follow us on Twitter.