Is There a Benchmark for Government Financial Management Systems?
The checklist in Ensuring Better PFM Outcomes with FMIS Investments is an excellent resource and a good starting point for benchmarking Financial Management Information Systems (FMIS) in government.
We like the checklist but thought that a benchmark needs more granularity. So, our innovation and PFM teams worked together to update the checklist and we now use this new benchmark as part of our A-i3+qM methodology that is designed exclusively for government and public finance advisory, implementation, and sustainability services.
We extended the checklist with content from the Commonwealth Secretariat Self-Assessment Tool that has some FMIS elements. And, we developed more granular elements with a more specificity, particularly in information technology and public accounting.
The FreeBalance government financial management system benchmark consists of:
- 20 TSA elements
- 73 Core Functionality elements
- 62 Ancillary Feature elements
- 15 Coverage and Utilization elements
- 145 Technical Aspect elements
The benchmark follows the World Bank structure with colour coding:
- Black for original World Bank content
- Red for Commonwealth Secretariat content
- Green for FreeBalance content
How do you get a copy of the benchmark and a short briefing?
- Email us at info@freebalance.com
There is no charge for the benchmark and briefing
About the FreeBalance A-i3+qM Methodology
FreeBalance uses an ISO-9001:2015 certified service methodology called A-i3+qM – accelerated, integrated, iterative, implementation-focused and quality management system that has the following characteristics:
- Government-Specific developed over almost 40 years of government-only projects, with emphasis on government fiscal management, change management and capacity building
- Government Good Practices using problem diagnostics, and advocating legal and appropriate practices for the context
- Integrated Product and Project Methodology that accelerates delivery, enables adapting software to meet needs, and eliminates the problem of orphan code through fully commercially-supported customization
- Modern Effective Agile through staging proven scientific commercial practices that increase implementation success rates, overcome uncertainty, and improve communications
FreeBalance Advisory Services
The FreeBalance Advisory Services portfolio includes:
- Advisory: Set of governance, public finance, change management, program management, and IT advisory services
- Implementation: Comprehensive enterprise software and FMIS implementation service
- Sustainability: Capacity building, training, change management, support and maintenance services
Get in touch to set up benchmark briefing session.