FMIS project officially runs

FPT IS has officially operated two most important modules of Financial Management Information System (FMIS) for State Treasury - the Royal Government of Cambodia including General Ledger and budget allocation (BA). The ceremony took place at the headquarters of the Ministry of Economy and Finance of Cambodia on Jul 20.

This is the first national-scale IT system of Campuchia. There were about 350 guests from the Ministry of Finance and Economy of Cambodia, the World Bank, FPT IS-LG CNS and Oracle.

Following the two modules above, the remaining modules including Accounts Payable (AP),  Accounts Receivable (AR), Purchase Order (PO) and CM will implemented in the coming months of 2015. It is expected that, by the end of 2015, the system will be deployed in 8 units under the Ministry of Economy and Finance of Cambodia and scheduled to complete deployment in 25 provincial treasury units by March 2016.

About 350 guests joined the important program.

Before implementing FMIS, financial management and budget settlement of the Ministry of Economy and Finance of Cambodia faced many difficulties such as unstandadized business process, manual operations management and report statistics, treasury officials taking much time and manipulation to examine records. With the successful application of ERP solution on PeopleSoft Financials, FMIS will help the Ministry of Economy and Finance of Cambodia with centralized app and database systems which are updated in real time.

Via this system, the Ministry of Economy and Finance of Cambodia as well as the Cambodian government can always follow the important financial indicators affecting the economy in order to make macroeconomic policies in time. FMIS also helps the Ministry of Economy and Finance of Cambodia apply widely-acknowledged norms and practices of international finance.

Speaking at the event, Mr. Aun Pornmoniroth - Minister of Economy and Finance of Cambodia said that FMIS was bringing about the direct aid for budgetary allocation reform in particular and public finance management reform in general of the Cambodian government. “Based on the current results, I deeply believe that the project will be successfully completed, bring enormous benefits to Cambodia “, said he.

"This project will help the Ministry of Economy and Finance of Cambodia to strengthen the budget performance and cash flow forecasting, managing finance resources effectively ", stated Deputy General Director of FPT IS Phung Viet Thang.

FMIS is the first global project in which FPT IS plays role as a general contractor overseas. Besides, FMIS is also quite complex integration project in terms of technology with multiple software items and hardware infrastructure provided by many different companies. However, with experience of implementing great integration and ERP projects successfully, FPT IS put FMIS into operation as scheduled.

The event also marked the opening of the leading modern large-scale Data Center and Disaster Recovery in Cambodia. Two centers were built according to international standard TIA 2+ (TIA 942), allowed the high availability at 99.741%, maximum downtime of 22h/year.