CONDUCTING THE REQUIREMENTS GATHERING AND STUDY PHASE FOR FINANCIAL MANAGEMENT INFORMATION SYSTEM

JULY 31, 2024 - FREETOWN, SIERRA LEONE

As part of a broader effort to enhance financial management within Sierra Leone's local governance structures, the Ministry of Finance has initiated the requirements gathering and study phase for implementing the PFM Smart® Financial Management Information System (FMIS). This crucial phase, which precedes the full deployment of the FMIS, is designed to ensure that the system aligns with the specific needs of local councils and supports improved financial accountability and efficiency.

The requirements gathering and study phase seeks to identify the unique financial management needs and challenges of each council by engaging with stakeholders across various local councils and departments. Additionally, this phase includes a thorough evaluation of existing financial management processes within the councils, helping to identify areas for improvement and ensuring that the new system integrates seamlessly with current workflows. Active involvement from council representatives, financial managers, and other key stakeholders is vital, as their input will guide the system's deployment, ensuring it is user-friendly and capable of addressing their most pressing financial management issues. 

The implementation of the PFM Smart® system represents a significant step toward modernizing Sierra Leone's public financial management at the local level. By providing a centralized and standardized system for financial reporting, budgeting, and accounting, the PFM Smart® system will enhance transparency, accountability, and efficiency in managing public funds.