Government organizations need systems that can deliver accrual accounting, commitment controls and advanced security, as well as manage the new pressures of performance measurements that judge efficiency. Requirements for project controls to facilitate charging for services and better budgetary systems to approve accountability are also just as critical. The Treasury Department of Cyprus recognized this and sought a solution to improve efficiency with the objective to provide high quality, efficient services at a low cost to Government officials, citizens, local authorities and to the suppliers of goods, services and capital. After a long and detailed evaluation process by officials from Treasury and DITS (Department of Information Technology Services) the Main Tender board awarded a fixed price contract to the NCR (Cyprus) consortium consisting of NCR, NetU Consultants Ltd and Andersen Consulting.
The solution that was successfully delivered at the beginning of January 2004 involves a highly available system, whose infrastructure connects 231 workstations, which are installed in over 70 sites located all over Cyprus. The solution also interfaces with other systems such as those of the Inland Revenue, the Central Bank, Embassies, Government stores and Government payrolls.
The implemented solution is expected to add value to the offered services with the utlisation of decentralized, automated, simplified and fast processes; support the preparation and management of the Republic’s Budget and provide on-line budget monitoring thus preventing over-expenditure; provide reliable and timely information to support the effective financial management and controls of each operational unit of the Public sector; use of data analysis, projections, consolidations and presentation functions to cover all executive financial analysis needs and enable micro and macroeconomic studies; utlilise cost accounting and enable the allocation of expenses to cost centres and the costing of the offered services; effectively manage funds and debts to support the efficient utilization of cash, investments and borrowings; efficient operation of the receiving and paying processes of the Treasury Department and manage the inventory levels by automating the tracking of materials and supplies and by offering advanced purchase processing functions.
NetU is responsible for the delivery of the application software and related services and the overall Project Management. These included the installation of the application software, the project team and end-user training, business mapping & system design, system build and data migration. With the go-live of phase one as at 1st January 2004, NetU is also responsible for the operational support of the total solution.
Constantinos Karmios, Chief Accountant, the Treasury Department, commented: “FIMAS was a challenging project, because of its size and scope, which we trust will improve the quality of our services and meet our stringent requirements and objectives. It also satisfies the needs of 14 modules that constitute the majority of the work performed by the Treasury Department; which can finally operate and be respected as financial advisors to the top management and not act as mere bookkeepers; and to be evaluated according to predefined performance measures for the results we achieve. The cooperation between the consortium members was made possible and successful because of the dedication to quality, commitment to results and professionalism exhibited by all, which complemented each other in their diverse capabilities.”