+855 23 43 00 63

Benefits of FMIS

FMIS is a tool for automating all current manual PFM processes into a fully integrated total PFM system covering budget formulation, budget implementation, accounting, reporting, monitoring and auditing. It covers more than software and hardware which includes people, organization and managing changes and in those aspects bring about new business processes. The immediate benefits envisaged from the FMIS will improve budget execution, through streamlined and automated payments, revenue-receiving (collection and remittance for non-Tax and links to Tax, Customs and Debt Management systems), accounting and reporting in the Central and Provincial Treasuries. Providing transparent online access to all financial information will also be a major contributor to improve PFM. Beside this, FMIS is an opportunity for implementing best practice that follows the international standard of Financial Management for Government. To be clear about the benefits of FMIS, the advantages to stakeholders are indicated clearly as diagram below.