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. Based on our experience the following software requirements are crucial for sustainable fund management:
- Real-time data access
- Automated donor specific reportingFast track implementation
Based on these requirements, GFA B.I.S. developed a vertical, donor specific software solution for fund management projects.
For various projects, GFA B.I.S. relies on INFOR SunSystems, a certified Financial management solution with 9,000 clients in 190 countries, which is highly suitable for international development organizations and which has been successfully implemented by GFA B.I.S. in over 50 projects covering a total fund volume of more than five billion Dollars.
The system uses the software’s powerful analysis capabilities so that the implementation of activities, execution of contracts and utilization of funding sources can be tracked. In addition to the set of standard reports that facilitate the monitoring of budgets, invoices and payments, the software is flexible enough to adapt to local tax regulations or other legal requirements. The unique advantage of the GFA B.I.S. approach is the integration of reporting into MS Excel®. This way, users can work in their familiar Excel environment, reports can be designed within a very short time and always show real-time values as data are extracted directly from the database.
The pre-defined, donor specific software solution has been implemented in cooperation with the GFA Consulting Group acting as Fiscal Agent in 14 countries for the Millennium Challenge Corporation (MCC).
Since 2013, another vertical solution for The Global Fund has been established, meeting the specific needs of the donor regarding e.g. budget monitoring by various categories and advance management. GFA B.I.S.’ setup of Infor SunSystems assists the Fiscal Agent of The Global Fund projects in four countries and the Principal Recipient in two counties.
Furthermore, GFA B.I.S is a The Global Fund approved service provider for Financial Management Information systems.
For the management of small or medium-sized disposition funds in projects financed by Kreditanstalt für Wiederaufbau (KfW), GFA B.I.S. developed a business solution, allowing detailed monitoring of all financial transactions according to multiple analysis dimensions such as program/activity, cost type, source of fund, or region. The implementation includes several pre-configured reporting templates and can produce e.g., the annex for the KfW Disbursement Request directly from the software system. Commissioned by GFA Consulting Group, this business solution has been successfully implemented in multiple KfW-financed projects.
For other donors, the system can be adapted to their specific accounting and reporting requirements within a short time. For more information, please refer to the following fact sheet.
PDF, English INFOR QUERY & ANALYSIS