Gov’t launches new IT system for public funds with private partners

The national government launched the P495-million contract for Budget and Treasury Management System (BTMS) project, a joint venture with Free Balance Canada and Innove Communications, a subsidiary of Globe Telecom. The project, which will be implemented for 27 months, will develop, operate and maintain a new IT system that would link the public financial management (PFM) processes of two of the key oversight agencies of the government These agencies are the Department of Budget and Management (DBM) and Bureau of the Treasury (BTr). The system will go live in 2017. Pursuant to the national government’s Updated Public Financial Management Reform Roadmap, the BTMS would link the financial processes of the DBM and the treasury, helping collect and organize government financial information. The central database will support the following PFM functions: Budget Management, Commitments Management, Payments Management, Receipts Management, Cash Management, Accounting, and Fiscal Reporting. In a statement, Budget Secretary Florencio [...]