PNG Government choose Technology One to help lead financial reform
The Papua New Guinea Government has awarded a US $4.42 million deal to Technology One to implement its integrated financial management and budgeting solution to help lead the country to economic reform.
The major project, to undertake a comprehensive financial management and improvement program, is a result of funding from the Asian Development Bank, AusAID and the United Nations Development Programme (UNDP). The PNG Government is confident that the project will provide an effective basis for broader economic, governance and public sector reform.
Mr Thaddeus Kambanei, Secretary for the Department of Finance of the PNG Government said the specific objectives of the project are to improve accountability, transparency and better utilisation of the Government’s limited resources.
“The new system will enable better prioritisation of Government efforts and improved fiscal control to be achieved through improved planning, budgeting, and monitoring,” Mr Kambanei said.
“By providing better and more timely information, the Project will reduce waste and improve efficiency in the implementation of all government activities,” he said.
“We also expect that better targeted and more efficient government operations will extend to all Papua New Guineans, and given the Government’s priorities, benefits will accrue especially for the poor.
“Technology One demonstrated significant experience and understanding in the requirements of government, particularly in relation to the management of budgeting and reporting across all government departments.
“The solution will scale from the central departments of Finance and Treasury, to line departments, provinces and spending units. It will give us the mechanisms to control our budget, both top-down, and bottom up, and easily integrate with our other finance systems.”
Technology One Chairman Adrian Di Marco said this was a major win for the company in the government market.
“Our experience in all levels of government, from local, to state, central and federal, gave us an edge over our competitors,” Mr Di Marco said.
“It was critical for the PNG Government that they chose a business partner that could work with the government to implement a solution that met their requirements to drive fiscal change,” he said.
“Over 40% of our clients are in the government market space, giving the PNG Government confidence of our experience and ability to meet their requirements and deliver the project on time and to budget.”
Mr Di Marco said the company’s Power of One business model positions it well for continuing success over the multinational vendors in the government market.
“This is our second major deal in the government market this calendar year, with the whole of Samoan Government also choosing Technology One’s fully integrated financial management and HR/payroll solution.
“Our Power of One business model, where we develop, market, sell, implement and support our own fully integrated solutions, gives our clients greater confidence in cost control and governance.
“Another key advantage we have is our Connected Intelligence series of products, which have delivered to our clients a solution which is a significant shift from functionality centric to people centric software.
“This is new generation technology that fundamentally changes they way our clients use software solutions to do their job.
“It is clear that Technology One’s value proposition continues to be recognised as a far superior approach to our competitors.”
Technology One currently has over 200 clients in the government market.
This project will be implemented over a three year period, and is comprised of licence fees, support fees and services.
Mr Di Marco said the revenue would be accounted over a four year period, and would not have an impact on this year’s earning’s forecasts previously advised by the company.