The Department of Budget and Management (DBM) has launched the Budget and Treasury Management System (BTMS), a key digitalization project aimed at strengthening Public Financial Management (PFM) Systems in the country.
The BTMS seeks to create a platform that will connect government agencies in financial management.
It promotes transparency by providing up-to-date and accurate information on financial transactions and the use of budgets across all government agencies.
“With the launch of the BTMS, we are laying the foundation for the Integrated Financial Management Information Systems,” Budget Secretary Amenah Pangandaman said.
The BTMS is aligned with the Public Financial Management Reforms Roadmap for 2024 to 2028 and the Philippine Development Plan.
It advocates the development of systems that are adaptive, accountable and future-ready.
It also streamlines the extensive processes involved in the collection and use of funds in the Bureau of the Treasury, including the management of bank accounts, electronic payments and cash flow forecasting.
Content retrieved from: https://malaya.com.ph/business/enterprise/dbm-launches-digital-systemfor-public-finance-management/.
