Projects
Linking
up the Community
for greater productivity
Background
The Ministry
of Finance, Brunei Darussalam controls, directs and manages the
financial affairs of the country. To execute this mandated responsibility,
the Ministry of Finance needed a committed, reliable and innovative
partner to vision and implement an integrated, user friendly and
robust financial application. These expectations of the Ministry
are encapsulated in the project called TAFIS i.e. Treasury Accounting
Financial Information System.
The Ministry
of Finance chose BAG Networks as its partner to jointly undertake
this project. BAG Networks with its expertise, experience
and access to their alliances capabilities will bring to fruition
the Ministry's expectations.
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Key Capabilities
Working
closely with the Treasury Department of the Ministry of Finance
to ensure the infrastructure meets their specific needs, BAG
Networks designed and worked on the following applications:
- General
Ledger
- Payables
- Receivables
- Budgeting/Commitment
Control and Reporting
- Assets
Management
- Inventory
Management
- Purchasing
- Financial
Services
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Features
- Online real-time
capabilities including browser-based user interface with workflows
embedded into business processes.
- Real-time
approval of transactions with adequate security, preventing fraud and
loss of monetary assets.
- On-demand
query and reporting.
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Benefits
- Elimination
of "one size fits all" archaic business process.
- Increased
confidence of data accuracy as data is entered and corrected at
source.
- Elimination
of duplicate data, thus releasing resource from validation tasks
and reentering of data. Single source data integrity
and eliminate reconciliation.
- Informed
decision made as there is instant availability and timeliness
of data.
- Shorten the
approval and payment cycles.
- Increased
accountability and responsibility of the services.
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