FreeBalance - Services - Overview

By: Freebalance  09-12-2011
Keywords: Product Development , Financial Management, Accounting Standards

FreeBalance Integrated, Iterative, Implementation and Quality Methodology (i3+qM).

FreeBalance uses a proven unified methodology to support both product development and implementation services. Our methodology adapts good practices in product development and implementation services to the unique requirements of each country and government level.

Guarantee - The FreeBalance i3+qM methodology guarantees that implementations will be on-time and on-budget.

Key Elements of the FreeBalance i3+qM Methodology

  • Integrated Teams - services and product development are provided by an integrated team focused on the customer to provide transparency and quick problem resolution.
  • Iterative Response to Changes - a sequenced approach to customer and implementation changes. Our methodology is based agile software development like Extreme Programming (XP) that place high value on adaptability. Agile development allows changes at any stage of a project. FreeBalance extends agile development techniques to services as well to enable fast response and to reduce risks.
  • Implementation Focus - international good practices templates are combined with proven program management processes to accelerate implementation. Our methodology is focused on the success of each specific customer implementation, not software releases. The FreeBalance Program Management Office manages both services and product development teams.
  • Quality Testing - each country-specific implementation of the FreeBalance Accountability Suite is tested through unit, system, load/stress and regression testing, based on actual customer environments.

International Standards

The FreeBalance i3+qM methodology is government-specific. It supports international standards such as the World Bank Treasury Reference Model (TRM), the IMF Code of Good Practice on Fiscal Transparency, the United Nations Classification of the Functions of Government (COFOG), the International Public Sector Accounting Standards (IPSAS), the Generally Accepted Accounting Principles (GAAP), and requirements that are unique to countries and donors. FreeBalance actively participates in government organizations such as the International Consortium on Governmental Financial Management (ICGFM) and the Financial Management Institute (FMI).

Keywords: Accounting Principles, Accounting Standards, Financial Management, International Public Sector, Product Development , Public Sector Accounting,

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