Public Accounting & Procurement
Public Financial Management (PFM) is concerned with the way modern Governments manage their budget in its established phases—formulation, approval, and execution. It deals with a set of processes and procedures that covers all aspects of expenditure management in Government. Furthermore, it is also interdisciplinary, drawing evidence and information from economics, political science, and Public Administration, as well as accounting and auditing. In a sense, it expands budgeting by linking it to an approved Government strategy. In this way, it improves expenditure, and revenue execution and recording. PFM supports the regular reporting by Government and its entities with an aim towards improving openness, accountability and transparency.
As a result, PFM has broadened its focus from the narrowly defined budget to all aspects of managing public resources. This includes State Enterprises, Public Private Partnerships, resource mobilization and debt management. There has also been a natural progression towards the medium-to-long-term implications and risks to Public Finance that result from today’s policy decisions.
INTRASOFT International holds considerable know-how and expertise in the broad area of Public Financial Management, and successfully delivers multifaceted solutions and professional services on a wide variety of technological platforms.
Major areas covered are:
- Financials: General Ledger (GL), Budget (BG), Payables (AP), Receivables (AR), Fixed Assets (FA), Cash Management (CE)
- Supply Chain: Purchase Orders (PO), Inventory (INV), Bill of Materials (BOM)
- HRMS: Human Resources Management (HR), Training, Administration (OTA)
In addition, concerning the area of Electronic Public Procurement, the company provides a comprehensive framework of solutions & services for the improvement and streamlining of public procurement procedures. INTRASOFT’s support of new business models in compliance with the EU public procurement law ensures transparency, efficacy and coherence on the state budget and procurement expenses.