Solution Overview

EY Public Finance Manager (PFM) is a blockchain solution that addresses long-standing issues challenging public finance management. This innovative solution integrates the planning, budgeting and tracking stages by providing a comprehensive financial view across government and external agencies. PFM also consolidates information to produce near real time performance reporting and advanced analytics, which help governments in making more informed decisions.

EY PFM facilitates data-driven decision-making. The solution focuses on three foundational issues to improve and streamline public finance budgeting:

Provides transparent, accurate, continual information for financial reporting and accountability
Optimizes allocative efficiency and capacity in core financial management processes such as budgeting, expenditure management and performance management
Creates a single source of integrated financial and nonfinancial overview to support managerial and strategic decision-making
EY and Microsoft help governments improve efficiency and transparency by providing public agencies and policy makers with a complete offering to support financial and resource management decisions — from workflow automation and reporting to document management to security and privacy.

Solution Benefits

Performs timely reconciliation of financial and reporting information
Leverages and enhances existing ERP systems without need to replace existing infrastructure
Facilitates viewing and reconciliation of appropriation and management frameworks in near to real time
Reduces administrative costs and facilitates direct cost savings by eliminating manual information exchange
Provides a complete view of integrated financial and nonfinancial performance information
Deploys across the policy spectrum, from health and education to defence and infrastructure
Maintains audit trail of public funds as they move through different state agencies

Public Finance Manager

by EY Global