The company SINAM will expand the system FARABI for Finance Ministry

The automated Information System FARABI (Financial and Accounting Reporting Application for Budgetary Institutions) for financial accounting and reporting of budgetary organizations , developed by SINAM, will be expanded to the Ministry of Finance.

As stated in the SINAM company's website, the system provides centralized financial management and accounting in budgetary institutions and organizations financed from the budget, cloud-based technologies based on national accounting standards (NAS ) and International Financial Reporting Standards (IFRS).

Currently the first phase of the system covered 35 public universities and four ministries . Functionality of the software was developed in accordance with the principles of resource management systems (according to the international classification - ERPsystem) and provides automation and management of all financial and economic activity of the enterprise .

The FARABI system directly supports the integration of the Ministry of Taxes , the State Fund for Social Protection and the Ministry of Finance . This kind of integration processes provide the basis for G2G- component ( State government ) of the " e-government " concept .

Currently, work is continuing on the established system integration with Treasury Management Information System . In order to ensure secure data transmission users will be issued electronic keys and electronic signatures . The system protects the rights of each member , as well as the confidentiality of information .

SINAM ( provider of advanced information technologies and solutions at the local IT market ) has been operating in Azerbaijan since 1994. According to it, the company's activities are aimed at improving the efficiency and optimization of business processes in the various institutions of Azerbaijan , as well as improving governance and the exchange of information in a society of modern Azerbaijan. - 17D-

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