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Fintrak Offers Budget Solution To MDAs



Fintrak Limited, an indigenous software development  firm has developed a budget solution to aid government Ministries, Departments and Agencies (MDAs) with improved integration of planning and budgeting with robust reporting and analysis.

The company said that it is bringing  innovative solution known as FinTrak Budget Planning & Processing Control software to make work easier for many offices in the public sector.

It noted that “Basic budgeting process and expenditure management has always been a  challenges for many MDAs in Africa, Nigeria inclusive. At this time of the year when the budget is been planned for the new fiscal year, the challenge of eliminating human errors such as implementation, wastages and timeliness in delivery becomes imminent.

“These few attributes are the things that  various MDAs have as a challenge. Seeing these loopholes in the budgeting processes  Fintrak Limited came up with the solution.”

It noted that “With tools like FinTrak Budget solution, a lot of these challenges affecting full-budget implementation can be corrected. The improvements in technology would make things more transparent and monitoring easier. Technology can be said to be the solution to budget implementation problem. The Fintrak Budget solution aids MDAs with improved integration of planning/budgeting with robust reporting and analysis. It also brings competitive advantage to the office. This process justify the budget request in the long run by completing accounting processes and bringing accurate data that clearly predicts the oncoming expenses such as pools of stock and giving the top executives an insight of future expenses limiting wastage.”

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Speaking on the importance of Fintrak’s budget solution, the group managing director of Fintrak Software Limited, Bimbo Abioye said, “FinTrak Budget software offers customisation to suit unique business environment and seamlessly integrates with existing platform.

“FinTrak Budget software is an online, real-time fully integrated system with the ability to support multiple users with many budget versions. The solution also accommodates the preparation of budgets using the Bottom-Up, Top-Down, and Hybrid models as well as Zero-based and Incremental Based Budgeting.”

Abioye added that “Designed with a rich set of functionalities like Self Service and Budget Simulations, scenario based versioning, seemless spreadsheet and application interchange, our clients will enjoy the best value on their investment.”

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He said “When deployed, many offices and MDAs with clients will benefit from a 90 per cent error reduction in Budget preparation and consolidation process.”

Fintrak Enterprise Budget Solution is a centralised Budget processing software that automates the present manual processing and approval of budgets for various organisations especially the public sector. The solution has the capacity to automatically generate pre-built reports that can be obtainable across various levels of the organisation.

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