What is iFMS: Integrated Financial Management System is an Information technology Based accounting and budgeting system and it is designed to manage payment processing, spending, reporting, budgeting and options as required for government or firms.
This system brings numerous management functions into one software suite and iFMS is also referred to as Integrated Financial Management Information System (IFMIS), where many government and private firms use this as their key HRMS portal to manage their distribution with employees and customers, which allows them to track spending in one page with less effort.
How iFMIS is Used
iFMS can be designed as per required by the entity, by modifying it to custom made system or off-the-shelf software, and based on the size and requirement of the entity iFMS is designed which further invoices in improvement of organization financial management.
- Enchants management of debt, liabilities and cash
- Get access to historical information for managing current budget modelling
- Financial transaction to get done easily
- Decision making efficiency does become easier
- Overall spends on salaries to be viewed on single dashboard
- Manual work of disbursement reduced to half with automation
Who uses IFMS in their Business Management?
There are many top branded companies who have built the portal based on IFMS and many state government departments use IFMS as their major portal to distribute salaries and record their spending.
Is IFMS safe for salary management for Government Departments?
Yes, IFMS does gives a secure connection to every employee and employer to access their limited functions. Thus no other then can connect to this precise portal of their department and can do any changes, where only authorized officers have full access to IFMS to update the salaries and other essential details.
Can a company of 20 employees use IFMS for their growth?
The IFMS is designed to bring a clear view of the budget and finance of companies, thus any company besides being small or large, can use the software to ground their financial transactions, and the built-in custom mode of IFMS needs to be used for a company with such a small group of employees.