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Integrated Financial Management System (IFMS) is an IT-based
budgeting and accounting system that manages spending, payment
processing, budgeting, and reporting for governments and other
entities. An IFMS bundles many essential financial management
functions into one software suite.
An integrated financial
management system is also known as an integrated financial
management information system (IFMIS).
Key Features:-
• Enhanced management of cash, debt and liabilities
• Ability to use historical information to provide better budget
modelling proces
• Reduced cost for financial transactions
• Increased decision-making efficiency
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