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Integrated Financial Management Information Systems - IFMIS Integrated or Interfaced System – Latin American Countries

Integrated Financial Management Information Systems - IFMIS Integrated or Interfaced System – Latin American Countries Experience Mario Pessoa Fiscal Affairs Department International Monetary Fund Washington, USA, September 14, 2008. Elements of a Conceptual Design.

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Integrated Financial Management Information Systems - IFMIS Integrated or Interfaced System – Latin American Countries

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  1. Integrated Financial Management Information Systems - IFMIS Integrated or Interfaced System – Latin American Countries Experience Mario PessoaFiscal Affairs Department International Monetary Fund Washington, USA, September 14, 2008

  2. Elements of a Conceptual Design What should be decided in the CD • Modules of the GFMIS and sequencing of implementation (what functions should be integrated and what should be interfaced) • Characteristics of the IT functionalities of the GFMIS • Number of users and level of geographic dispersion • Off-the-shelf or in-house software development • Security issues • Accounting regime • Coverage • Main Reports

  3. Integrated Financial Management Information Systems - IFMIS Main Functionalities

  4. A Phased Approach for IFMIS • First phase – modules of the general ledger, purchases, payables (including commitment control), receivables, and cash management. Obs:In case other systems have already been developed, the core system should interface with them, including automated bank reconciliation, payroll, and debt management. • Second phase – modules related to fixed assets (usually a module of any commercially available package); basic debt management (alternatively GFMIS could be interfaced with a separate system with more advanced functionalities), budget preparation (preferably a module of the system, but could be a separate system which interfaces with the GFMIS), and the payroll (likely to be a separate system interfaced with the GFMIS at the first moment). Obs: At this stage some systems that already exist could be decommissioned. • Third phase – modules related to inventories, project costing, full procurement system (including issuing and evaluation of tenders), and project performance management (likely to be a separate system that is linked with the GFMIS for automated transfer of relevant data).

  5. Comparative Analysis - Make or Buy? Source: WB Guidance Notes: Make or Buy Decision Factors

  6. Comparative Analysis - Make or Buy? (cont.) Source: WB Guidance Notes: Make or Buy Decision Factors

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