Viewpoint

November 12, 2021

PERISCOPE CONSULTING: Setting the pace in public finance management

PERISCOPE CONSULTING: Setting the pace in public finance management

“Show me a company with integrity and I will show you an unstoppable success” Bill Gates.
The above quotation may not apply to some organizations in Nigeria given their lack of integrity to deliver on promises.

However, there are quite a handful who clearly belong to the group described by Bill Gates and one of such company in Nigeria today is Periscope Consulting Limited a leading management consulting firm with proven expertise in Public Financial Management (PFM) Advisory, People and Change Management, as well as Process Improvement for organisations in the public and private sectors.

Over the years, PCL has successfully assisted various public and private sector organizations in designing and monitoring projects of varied sizes by using a wide range of practical tools, skills and techniques to deliver on all aspects of project scope. With its vast experience in project management, the company provides implementable advisory services customized to individual clients environment and needs, based on deep industry knowledge.

According to the Lead Consultant and CEO of Periscope Consulting Limited, Mr. Bayo Adams, he explained that the company has taken steps towards forming strategic alliances with diverse international institutions and multidisciplinary professional service firms across Africa, Europe and Asia as part of its goal towards becoming a one-stop shop for integrated advisory services, whilst also building on the cumulative years of experience of its team in global finance and business management to deliver world-class services and products to the Nigerian market.

With core values built on professionalism, integrity and excellence, it is no gainsaying that the company has made a name for itself in public finance management given its footprints across the 36 states of Nigeria where the company has helped improve accountability in revenue generation, debt recovery, manpower development and tax audit among others. The private sector has also benefited from these services given PCLs engagement with companies across major sectors and industries. These includes entertainment, health, energy and natural resources, information and communication as well as the financial services.

“Periscope Consulting has impacted the Nigerian private and public sectors in numerous ways. We have been involved in several public sector advisory engagements involving strategy, process design and improvement, finance process automation, and various human capacity building programmes with greater focus on the public sector- which has been identified to be in dire need of improvement.

“We have been engaged in some monumental projects such as the recent preparation of the Medium Term National Development Plan 2021-2025 and the Nigerian Agenda, 2050; the implementation of the International Public Sector Accounting Standards (IPSAS) in Nigeria; implementation of Treasury Single Account (TSA) at the Federal and State Levels; the deployment of our e-Procurement Solution for improved procurement practices at the State level; implementation and process support for technical working groups on States Fiscal Transparency Accountability and Sustainability (SFTAS) for a number of States; Capacity Building and Policy Formulation for the Nigerian civil/public service; Executive-Legislative stakeholder engagement workshops, among others,” the Lead Consultant informed.

Speaking further, he also laid emphasis on the companys engagement with the private sector in areas such as Strategy, Finance and Investment Advisory; Process and Policy Improvement for organizations in Health, Oil & Gas, and Finance sectors. The firm has also concepted an SME Acceleration Programme (also known as “Ideas Fair”) which involves incubating entrepreneurs/businesses by matching investors/funders with businesses that have strong potential for success.

Periscope Consulting has also initiated, designed and developed various products in alliance with Aggregate Business Solution (ABS). Some of the innovative products by PCL include;

G+Pro: The G+ Pro Accounting Software was specifically developed to satisfy the unique needs of clients towards the adoption and implementation of the International Public Sector Accounting Standards (IPSAS) at all tiers of government in Nigeria.

AFMIS: This is a filing solution that provides the requisite platform for setting up a virtual filing system for the purpose of automating management of physical file access, usage and movement within an organization in order to optimize business process and increase productivity. The AFMIS is currently being used at the Office of the Accountant General of the Federation (OAGF).

AA+: The AAPLUS is a carefully thought out solution built to overcome the bitter experience of managing non-public firm accounts and audits. It is designed to meet international accounting reporting standard. It demonstrates high capacity and functionality to manage business bookkeeping and accounts management. This product provides accounting and audit functionalities in seven broad modules which include: budget module, inventory module, fixed assets module, sales and procurement model, payment and reciept module, accounts setup and general ledger module as well as system management module.

Omoluabi Fees Payment Portal: The OFPP is a product which allows schools without an existing automated platform utilize the solution for payment of school fees. It is currently being used by the Osun State Government.

Giving an assessment on the use of indigenous software in both public and private establishments in Nigeria, Adams applauded Nigerian software developers whose contributions across continents in the area of IT development has left the Nigerian government and privately run establishments to reckon with their expertise.

“There has been a growing implementation and use of local software in Nigeria, thanks to the Executive order No. 5 of the President. I believe that this drive will push for local content, zeal and agility of the Nigerian entrepreneur, especially as it has led to the development of a great number of indigenous software and applications across different business functions in both the public and private sectors. Nigerian software developers have proven themselves not just on the local terrain but even globally with the continuous exportation of local talent in the IT sector. This has shown public and private organisations that local software in Nigeria meets global standards”, he said.

On what the future holds for the company which by 2022 would have provided ten years of unblemished service, the soft-spoken CEO informed that the next ten years would see the company obtaining an ISO certification, expanding its operations across the West African region and the activation of a global network of firms through international collaboration, takeovers, and alliances.