Friday, June 14, 2024
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New system to replace 40-year-old FMIS: Prasad

Deputy Prime Minister and Minister for Finance Professor Biman Prasad has announced that the newly developed Financial Management System to replace the 40-year-old current FMIS system will go live from August 1.

Speaking in Parliament, Prof Prasad said the current FMIS system had become quite outdated with several challenges in terms of controls, reporting, efficiency, and system security.

Prof Prasad said reports had to be manually extracted and the system was generally short of capabilities that you have in a modern FMIS.

He said there was little to no provision available to upgrade the current system to meet our accounting needs which has evolved and become more complex over time – Apart from this, the current FMIS is only accessible through GOVNET, which means that staff cannot directly access FMIS from home and other locations which make accounting operations challenging.

Tender process

The Ministry of Finance said the Asian Development Bank has provided a great deal of support for this project with its technical capabilities.

Both the Ministry and ADB started with technical assistance to undertake an independent review of the current FMIS/Payroll system which proposed a way forward for replacing the two systems.

After the ADBs technical assessment, Prof Prasad said it was clear that we needed a replacement of the FMIS system with an inbuilt payroll system that meets our specific needs.

“We started with the preparation for a comprehensive Request for Tender (RFT) with clear specifications on our requirements, including the need for modern and best practice FMIS solutions. We also had numerous consultations with other Government agencies and our technical advisors to ensure that we get the scope of the system defined well. Given this investment, we not only needed a system for today but also to meet our needs in the future.”

The Ministry of Finance said after completing the RFT was completed we called for a tender process for competitive bidding by both local and international suppliers.

Prof Prasad said 13 bids were received, including eight locals and five international suppliers.

“Out of these 13 bids, only three bidders met the technical requirements as set out in the RFT, and the lowest bidder was selected by the Technical Evaluation Committee and later approved by the ITC Steering Committee chaired by Deputy Prime Minister Manoa Kamikamica.”

“The cost is estimated to be around $12 million, lower than the $14 million allocated in the budget and an annual service fee of around $1 million.”

The team awarded the tender for the project is an international reputable company Bisan Systems, working tirelessly after almost 14 months; the team is now doing the User Acceptance Testing for the system to ensure that the system meets the expectations and needs of the users.

Ilaitia Ravuwai
Ilaitia Ravuwai
Journalist |


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