State of Pará, Brazil officially launches the new SIAFE to modernize tax, wealth and financial management across government
Ottawa, Canada (January 12, 2023) FreeBalance, a global public financial management (PFM) solutions and consulting services company, today announced that the new unified financial information management system implemented for the Brazilian state of Pará went live yesterday. The Sistema Integrado de Administração Estadual (SIAFE) uses the Commercial Off-the-Shelf (COTS) FreeBalance Accountability Suite™ as a financial management system for the 216 administrative units of the legislature, judiciary and executive of the government of the state of Pará.
The SIAFE project was funded by the Inter-American Development Bank (IDB) to promote the integration of the tax systems of different states and to modernize Brazil’s tax, financial and wealth management. SIAFE is part of the IDB project Profisco II, which aims to improve budgetary and financial planning and public debt management and to modernize the government’s accounting information system.
The launch took place in Belém and was attended by more than 400 officials and dignitaries, including Hana Ghassan Tuma, Vice Governadora of Pará, René de Oliveira e Sousa Júnior, Secretary of Finance, Elieth de Fátima da Silva Braga, Secretary of Planning and Administration , and Manuel Schiappa Pietra, President and CEO, FreeBalance. The launch of SIAFE marks a major milestone in Brazil’s public finance management (PFM) reforms and much-needed modernization of legacy systems in state governments.
The Honorable Deputy Governor Hana Ghassan Tuma said: “The implementation of SIAFE is a significant achievement for the State of Pará. The ability to manage our state’s public finances in an integrated and transparent manner will significantly improve governance and service delivery, and today’s launch is an important step in support of the citizens of Pará.”
FreeBalance’s implementation of the FreeBalance Accountability Suite™ enables the Treasury Secretariat, Pará (SEFA) to adopt the Brazilian Public Sector Accounting Standards (NBCASP) and modernize planning, budgeting, public spending, accounting, reporting and finance functions. FreeBalance is responsible for all implementation, configuration, integration, data migration and training of 1,800 users. As with all FreeBalance implementations, the company set up a local office and hired a local team in Belém to provide and deliver ongoing support and sustainability services to the project.
Manuel Schiappa Pietra, FreeBalance’s President and CEO, said: “Building government capacity and supporting government’s digital transformation is FreeBalance’s core mandate as a purpose-driven organization. Our systems, solutions and services all aim to improve governance, accountability and transparency in government to improve the well-being of citizens. We congratulate the State of Pará on this historic occasion and look forward to continuing to support PFM reform in Brazil.”
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Contact for media inquiries:
Jessica Whitcutt Fagan
E: jessica.whitcutt@freebalance.com
About FreeBalance
FreeBalance is a purposeful organization dedicated to improving the well-being of citizens and fighting corruption around the world. With a track record of nearly 40 years and offices in over 25 countries, FreeBalance has unparalleled experience in public finance reform as a specialist business-to-government (B2G) firm. FreeBalance Public Financial Management (PFM) solutions, consulting services and training deliver realistic and impactful public sector reforms that increase transparency, improve effectiveness, restore trust and create breakthrough opportunities for innovation.
The FreeBalance Accountability Suite™ is a commercial, turnkey Government Resource Planning (GRP) solution that covers the entire fiscal cycle and manages all critical government tax systems. It’s the only PFM solution built exclusively with government, for government. The suite offers a flexible, modular financial management system that can be incrementally activated and scaled to reflect the changing needs of government.
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