Fund & Financial Management Systems

Challenges

Development funding is increasingly scrutinized by tax payers, donors, and other stakeholders. International development organizations are expected to deliver credible information on their performance. Typically, they manage complex budgeting and reporting processes and have to meet the demands of a variety of stakeholders. Professional software solutions that help supervise the entrusted funds and produce transparent financial statements are a must.

However, accountability to external interest groups is not the only challenge. Managers require relevant financial data just in time to ensure efficiency and effectiveness in planning and implementing projects and programs. Their responsibilities comprise setting up, monitoring and readjusting budgets on a regular basis. To this end, appropriate and easy-to-use tools which generate the required data in real-time provide significant assistance.

But there are different requirements for the financial management concerned and, consequently, the software to be purchased. Demands tend to increase with the number of donors, projects and sites an organization has to manage. While some institutions are able to contract professional finance staff, others may lack specialized accounting know-how. Ultimately, users should be able to operate the software according to their capacity as well as in their desired language.

Therefore, setting up a suitable financial management system requires a tailor-made approach and a software package which is flexible enough to allow for easy customization. Also, license and maintenance costs involved should be affordable, and time and effort spent on implementation and user training should be reasonable.

    
GFA B.I.S. Services

For new projects, GFA B.I.S. relies on INFOR SunSystems, a world-renowned product highly suitable for international development organizations. It features outstanding analysis capabilities and a flexible real-time reporting features based on MS Excel. In addition, INFOR SunSystems contains the global essentials covering all international and local accounting requirements. Based on Infor SunSystems, GFA B.I.S. has developed a vertical software solution for Fund Management projects , which has been successfully implemented in over 30 projects. In addition, for Not for profit organizations, another branch specific solution is available.

  

For already established projects, we have developed a highly flexible approach depending on the capacity and features of the existing accounting system. The main objective of the approach is to fulfill the donor requirements in terms of transparency and automated reporting within a short period of time.

  • If existing accounting systems can be optimized to fulfill donor requirements, our consultants re-customize the accounting software to provide for efficient automated reporting.
  • If existing accounting systems cannot be sufficiently optimized, our consultants oversee or assist in the implementation of the new system that will satisfy the donor requirements.
  • In order to guarantee transparency and ensure a smooth transition while the new system is not fully operational, we propose an optional implementation of a temporary accounting system at the partner organization.
Our consultants have worked with most of the sector relevant accounting systems and have a detailed know-how of the individual products’ features. In addition we have an in-depth knowledge and understanding of the accounting and reporting requirements of the financing institutions, which help us to deliver solutions with high level of transparency, auditability and efficiency.
 
GFA B.I.S. offers its services throughout the whole project or program cycle. Starting from the analysis of procedures and processes, we cover system configuration, documentation, and the programming of reports. User training, ongoing support and maintenance are an integral part of our service portfolio. In addition, software solutions customized by GFA B.I.S. are implemented using a standardized fast track methodology in order to minimize the total costs of ownership (TCO).


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