ZAGREB, July 6 (Hina) - PIFIS, short for Public Integrated Financial System, gives access to an up-to-date review of state finances and will be of great assistance in decision-making, it was said earlier this week at the presentation
of this Croatian State Treasury project.
ZAGREB, July 6 (Hina) - PIFIS, short for Public Integrated
Financial System, gives access to an up-to-date review of state
finances and will be of great assistance in decision-making, it was
said earlier this week at the presentation of this Croatian State
Treasury project. #L#
PIFIS is based on Business Intelligence technology and is the first
such project in Croatia's state administration.
Business Intelligence systems use information obtained from
structured and unstructured data from a variety of sources and
transform them, by means of certain technologies, into quality
information and analyses applicable in decision-making.
Business Intelligence can improve decision-making and its use is
also evident in cost reduction, Finance Minister Damir Kustrak
said.
The system should provide state administration with faster access
to required information, a more rational spending of budgetary
funds, and a better management of the state's liquidity.
Work on the project began last November and the first stage was
completed recently -- all time-dependant data on budgetary revenue
and expenditure have been collected in one place.
In practice this enables, for example, the compiling of reports on
current budgetary revenue and spending as well as on budgetary
revenue, for example, in the 1995-2002 period, reports on excise by
period, on the execution of budgetary revenue by month, etc.
Chief state treasurer Vesna Vasicek said the second phase of the
project should be completed by the end of the year. The
implementation of both phases is expected to cost around four
million kuna (EUR533,000).
(hina) ha