By Chino S. Leyco
The Department of Budget and Management (DBM), Globe Telecom and FreeBalance, Inc., announced the implementation of a secure and reliable modern financial management information system to achieve better transparency, accountability, and efficiency among national government agencies.
The new Budget and Treasury Management System (BTMS) is an integrated and fully-automated platform for a sustainable Government Resource Planning (GRP) solution that is extensible, flexible and adaptable to reforms as well as suits a wide range of public financial requirements.
BTMS was piloted in DBM and the Bureau of the Treasury as both oversight and spending agencies while the Commission on Audit will have special access to support auditing functions. The system will be rolled out to all national government agencies within the next year.
“With the implementation of BTMS, we will revolutionize the way we do things and will further improve our ability to deliver public service. The effective use of modern technology will strengthen our fiscal responsibility as it would allow us to keep an eye on the government financial status real time,” Budget Secretary Benjamin E. Diokno said.
“We also believe that an improved and harmonized government financial process will provide more reliable and timely financial information leading to sound policy decision-making for executives, managers and staff in the line and oversight agencies,” he added.
Albert de Larrazabal, Globe Chief Commercial Officer, on the other hand said: “As a company committed to helping the Philippines become a digital nation, we are happy to be part of the government’s journey towards digital transformation.”