Ministry of Finance of the Republic of Cyprus

 

The Ministry of Finance and the Treasury of the Republic of Cyprus intend to modernise their IT systems for budget planning and implementation, accounting and reporting, as well as for personnel administration. PD was commissioned to collaborate with the ministry’s financial officials and human resources managers in analysing its functional requirements and formulating them in a fixed contractual form, and to provide assistance during implementation. Together with the Cypriot administration’s internal IT service provider, the non-functional requirements are to be defined, interfaces to the other administration systems identified and the process for migrating data from the old systems described.

The aim of the implementation project is to map current requirements, relating to financial management , in IT systems, as well as to facilitate subsequent conversion to accruals based accounting. Simultaneously, an IT system for human resource management will be implemented for the first time.

Our consulting services

During the implementation project, PD first drew up a basic catalogue of requirements for the future system. The existing system was analysed as regards options for expansion or enhancement, as well as ad hoc measures to address the most urgent problems. After resolving these, the PD consulting team assisted the Cypriot administration with the advertisement, implementation and evaluation of an expression of interest process. Based on the results, a project plan was drawn up, including a cost-effectiveness study. Since September 2015, the team has been describing requirements for the system with the Cypriot officials.

 

 

Consultation period: since August 2014

Key data on the implementation project for the Ministry of Finance of the Republic of Cyprus

Objective of the project: to introduce an enterprise resource planning (ERP) system for the financial administration of the Republic of Cyprus
Location: Nicosia
Contractual period / commencement: since August 2014
Benefits of the project: PD is enabling the Ministry of Finance of the Republic of Cyprus to direct an external service provider for implementation and operation of the ERP.

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Picture credits:
ΣτηρίζωΚύπρο (Own work) [CC BY-SA 3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons (retrieved at 31.10.2016)

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