By Cynthia Alo

FinTrak, indigenous software development and financial technology firm, has rolled out FinTrak Budget Planning & Processing Control software that will reduce errors in budgeting by 90 per cent while making work easier for many offices in the public sector.

According to the firm, the basic budgeting process and expenditure management have always been a  challenge for many Ministries, Departments, and Agencies (MDAs) in Africa, Nigeria inclusive noting that this will reduce human errors.

In a statement, the Group Managing Director of the firm, Bimbo Abioye, noted that financial data and management are very important to effective governance adding that access to this and the use of timely and accurate budgeting and expenditure data are key to public health officials’ capacity to make future investment decisions.

“With tools like the FinTrak budget solution, a lot of these challenges affecting full-budget implementation can be corrected. The improvements in technology would make things more transparent and monitoring easier. Technology can be said to be the solution to the budget implementation problem. The Fintrak Budget solution aids MDAs with improved integration of planning/budgeting with robust reporting and analysis.”