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Ministry of Finance of Estonia

An executive body

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About

Estonian Ministry of Finance is an executive body whose mission is to develop and implement effective public finance policies and ensure country's macroeconomic stability and economic development.

The challenges:
The challenges:
  • Planning and budgeting was taking too long
  • It becomes increasingly difficult to coordinate a large number of people involved in the planning process
  • There is no established methodology applied in the planning process
  • Laying data, reporting and tracking the budget versions requires a lot of time
  • A big number of human errors
  • IT department engagement is required daily
The solution:
The solution:

The SAP Business Planning and Consolidation (SAP BPC) application delivers planning, budgeting, forecasting, and financial consolidation capabilities, so you can easily adjust plans and forecasts, speed up budget and closing cycles, and ensure compliance with financial reporting standards.

The outcome:
The outcome:
  • A unified system for preparing, managing and  implementing plans, budgets and forecasts.
  • The system connects more than 200 public sector institutions.
  • An automated consolidation process that helps ensure compliance with legal and accountability requirements
  • Audit trail for total transparency
  • Quick and accurate business analytics and reporting.
  • Reduced duration of the budget planning process, increased the efficiency of planning.
  • Preparation of standard and flexible ad-hoc reports, monitoring of the fulfillment of target (predictive)
  • Performance indicators and identification of deviations at the level of the general consolidated state budget
  • The system supports budget formation based on cash and accrual accounting principles.

Client testimonial

Ministry of Finance of Estonia
This SAP BPC-based solution helps the Estonian Ministry of Finance to budget, plan and manage the state budget. We recommend „Alna Business Solutions“ as a trusted provider of state-of-the-art government IT solutions.

Andres Paris

IT expert at Ministry of Finance of Estonia

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