Press Releases | Success Stories
Success Story: Government of Barbados - Ministry of Finance
The Island of Barbados, located just Northeast of Venezuela , has embarked in a government modernization project in order to keep up with the strong economic growth , both in their traditional industries as well as in tourism, a major source of revenue.
To that effect, the Ministry of Finance has sought to automate the daily transaction processes in all of their financial areas, from Ledger to Accounts Payable to Purchasing and Fixed Assets to Payroll. Having achieved this first phase the government has embarked in a strategy to deploy business intelligence tools to get instant access to key performance indicators, produce value added reports and set up automatic reports that allow for detailed drill-down to the origin of the transaction.
Smart Solutions has been working with the government, in an advisory capacity, providing the know how and tools to achieve these objectives. Today the government is a leader in information management, with highly skilled personnel and improved citizen's services.
Some of the key points of their information processes include:
- Business process Workflow rules
- Business approval processes
- Payroll for over 25,000 public service employees
- Benefits Management
- Vendor relationship management
- Drill down detailed performance and status reports
- Improved Budget processing
- Implemented Funds Control procedures for better cash management
- The government of Barbados remains a leader in the region as a model of efficient government spending.
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