Strengthening fiscal governance, optimizing resource allocation, and enhancing transparency for sustainable public sector development.
Effective Public Financial Management (PFM) is fundamental to good governance, economic stability, and efficient public services. It encompasses how governments manage financial resources, from revenue collection and budgeting to expenditure control, accounting, and audit. Our Public Financial Management service helps governments and public sector organizations build robust, transparent, and accountable financial systems. We provide expert guidance and solutions to enhance fiscal discipline, improve resource allocation, and foster public trust, ensuring public funds are managed effectively for citizens.
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Public Financial Management Transformation
Tech&Touch supports governments in delivering large-scale PFM transformation initiatives that enhance transparency, accountability, and fiscal sustainability. Our services address key reform areas such as cash-to-accrual transitions, performance-based budgeting, public-private partnerships, and public sector efficiency programs.
Cash to Accrual Accounting Reform (IPSAS Adoption)
Legislative and institutional advisory for the adoption of accrual accounting standards.
Gap analysis and readiness assessments against IPSAS benchmarks.
Roadmap design and phased implementation of accrual-based reforms.
Capacity-building programs for finance and treasury officials.
Technical alignment of ERP/GRP systems to support accrual reporting, asset management, and liability recognition.
Technical alignment of ERP/GRP systems to support accrual reporting, asset management, and liability recognition.
Performance-Based Budgeting (PBB) and Medium-Term Expenditure Framework (MTEF)
Advisory on redesigning budget structures to integrate outputs, outcomes, and performance indicators.
Development of performance frameworks aligned to national goals, sectoral strategies, and SDGs.
Integration of MTEF and PBB within budget formulation, execution, and monitoring cycles.
Data architecture and system support for program-based budgeting and fiscal reporting.
Capacity building for ministries and sub-national entities in performance target setting, costing, and evaluation.
Development of dashboards and analytical tools to monitor and report on performance metrics.
Public-Private Partnerships (PPP) Advisory
Institutional design and policy advisory for establishing robust PPP frameworks.
Development of standardized PPP processes including project preparation, procurement, risk allocation, and performance monitoring.
Financial modeling and Value-for-Money (VfM) assessments for PPP projects.
Support in aligning PPP contracts with government accounting, budgeting, and debt frameworks.
Integration of PPP obligations and contingent liabilities into fiscal risk assessments and medium-term fiscal plans.
Government Efficiency and Fiscal Optimization Programs
Design and execution of spending review programs to identify fiscal space and inefficiencies.
Development of cost containment strategies and expenditure rationalization frameworks.
Implementation of performance improvement plans across key service delivery sectors.
Digitization and automation of high-volume financial processes to reduce operational costs.
Benchmarking of government operations against international best practices to support evidence-based reform.
Integrated PFM Institutional Strengthening
Design of integrated budget, treasury, and accounting frameworks for better coordination and data consistency.
Development of fiscal governance models to improve intergovernmental fiscal relations and resource alignment.
Advisory on legal and regulatory reforms to support modern PFM practices.
Strengthening of internal control, audit, and public reporting mechanisms.
Capital Investment and Debt Management Reform
Advisory on establishing Public Investment Management (PIM) frameworks aligned to development priorities.
Lifecycle capital project planning and monitoring (appraisal, budgeting, implementation, post-evaluation).
Debt sustainability analysis and implementation of sound debt management frameworks.
System and process design for linking capital budgeting with fiscal frameworks and long-term planning.
Driving Enhanced Fiscal Governance and Development Outcomes
Our Public Financial Management services empower governments to achieve significant improvements in their fiscal governance. This leads to more efficient use of public resources, greater transparency and accountability, reduced fiscal risks, and ultimately, improved public service delivery and sustainable economic development. By building stronger PFM systems, we help governments earn and maintain the trust of their citizens and international partners.
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Frequently Asked Questions
What exactly is Finance Transformation through Technology?
It’s about optimizing finance processes, systems, and structures using advanced tech like AI, automation, and cloud. The goal is to boost efficiency, accuracy, insights, and strategic value, transforming finance into a key business partner.
Why should my organization consider Finance Transformation through Technology?
Consider it for enhanced efficiency, cost reduction, improved data accuracy, deeper financial insights for better decision-making, stronger compliance, and risk mitigation. It helps reposition finance as a strategic asset.
What types of technologies are typically involved in this transformation?
Common technologies include Robotic Process Automation (RPA), Artificial Intelligence (AI) and Machine Learning (ML), Cloud-based Enterprise Resource Planning (ERP) systems, Advanced Analytics and Business Intelligence (BI) tools, and integrated planning software.
How long does a typical Finance Transformation project take?
Project duration varies significantly based on scope and complexity. It can range from a few months for targeted automation to several years for a complete overhaul of the finance function and ERP system.
What are the key benefits of undergoing Finance Transformation?
Key benefits include increased efficiency, reduced costs, improved data accuracy, enhanced insights for decision-making, better compliance and risk management, and shifting finance’s focus to strategic analysis.
Will this transformation lead to job losses within my finance department?
While some manual tasks are automated, the aim is to reallocate staff to higher-value, strategic activities like analysis and planning. It typically transforms roles, often requiring upskilling, rather than eliminating positions.
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