Budgeting and Procurement Systems for MOE Schools
All MOE schools in Singapore have a procurement and finance team to oversee its budgeting, procurement and finance operations. This team has to work together with all the teachers in the school to ensure proper accountability for the school's budgeting, procurement and finance procedures.
Our iFinance system is designed to bring structure and credibility to the system, as well as to make the processes paperless.
1. Budgeting Module
The e-Budgeting Module helps all staff in the school to tracking all their Budgets in the school and their utilization rates at the individual level. Teachers are often to busy to manage this properly, and often go back to the Finance team for help. This adds to the Finance Team's workload. Also, as teachers struggle to manage and track their Budgets, this just means that they will have lesser time to focus on what they are supposed to do, TEACH! Therefore, the eBudgeting System was created. Today, the eBudgeting system has evolved to include not only the tracking of Budgetss and Utilization Rates, but also allows the submission of Budgeting forms with online approval workflows. Also, Budgets cannot be submitted beyond the boundaries of their respective funds.
2. Procurement Module
The e-Purchase Requisition systems helps all staff in the school to track all their AORs in the school and their utilization rates at the individual level. Teachers are often to busy to manage this properly, and often go back to the Finance team for help. This adds to the Finance Team's workload. Also, as teachers struggle to manage and track their AORs, this just means that they will have lesser time to focus on what they are supposed to do, TEACH! Therefore, the ePurchase Requisition System was created. Today, the ePurchase Requisition system has evolved to include not only the tracking of AORs and Utilization Rates, but also allows the submission of AOR forms with online approval workflows. AORs also cannot be submitted beyond the boundaries of their respective budgets.
3. Payment Module
The Payment module helps staff in the school to track payments that had to be made for Vendors. These required invoices to be submitted together with Payment forms in order to request for permission for payment. Today, the ePayment module has evolved to include validations to ensure that Payments and Reimbursements are done within the boundaries of AORs. Payment and Reimbursment forms also come with online approval workflows.
Altogether, the Budgeting, Procurement and Payment module make up the MOE School's iFinance system. The 3 modules come closely integrated together and can be deployed as a single system with one login.
To find out more, see here. Or, to speak with one of our friendly IT consultants, see here.