The Department of Finance, through the Accountant General’s Department, has introduced a new and innovative Financial Management System to replace the 25-year-old Smartstream system.
Infor Cloudsuite, officially launched on June 5, 2024, is a modern, technologically advanced, cloud-based financial management system designed to supersede Smartstream. The new system will streamline financial processes, ensuring transparency, accountability, and regulatory compliance to optimize resource allocation within government agencies.
Swithin Donelly, Deputy Budget Director said, “Cloudsuite ACM will revolutionize the way we handle our human resources. For the first time in history, the Ministry of Public Service will digitize all of its work processes. This platform will streamline recruitment, onboarding, performance management, and employee development. It will foster a more engaged and productive workforce.”
During his remarks, Accountant General Matthew Branford outlined the Treasury’s role as the custodian of all government financial resources, emphasizing its fiduciary responsibility to protect and safeguard public funds, maintain public trust, and uphold integrity in the public financial management process.
“It has become necessary to migrate to a more sophisticated financial management system that compliments today’s dynamic business landscape. Ladies and gentlemen, I am delighted to introduce to you Cloudsuite, Financials and Supplies Management, and Human Capital Management.”
He added that the Treasury was able to plan, develop, and transition to this technologically advanced system with financial and technical assistance from The Caribbean Regional Technical Assistance Centre (CARTAC) and Smart Solutions International.
“The new system represents a significant leap forward in efficiency, productivity, and collaboration in a world where organisations are constantly challenged by business complexity and the need for fast past adoption. We believe that Infor Cloudsuite offers a comprehensive solution to help navigate these challenges and unlock the full potential of our department.”
Paul Warren, representing Smart Solutions International, presented the project overview. He highlighted numerous advantages of the new system, including Human Resource Management, Contract Management, and Procurement Management, along with other functionalities not available in Smartstream.
“Half of what we’re going to be able to do on Cloudsuite is even possible today on Smartstream. It’s not just a question of the technology but the suite has been enriched in terms of additional functionality as well as additional modules. So we’re able not just to modernize what you do today we’re actually able to address things that are gaps that are maybe done manually today, maybe done through third party systems, homegrown systems, reporting in terms of data warehouses and other things that are a challenge to maintain.”
Francis Fontenelle, Permanent Secretary in the Department of Finance, commended all stakeholders for their efforts in reaching this project milestone. He emphasized that financial management is the backbone of any successful organization, particularly in government.
“This new system will empower us to elevate our financial management practices to new heights. Practically speaking this system will allow a government to foster compliance with our regulatory requirements given that we have recently enacted the Public Procurement Act and the Public Finance Management Act. As we journey with this new system we must be bold to sufficiently explore and endeavour to maximize the benefits afforded by the system and to obtain the comfort that the system will assist us as we navigate through this digital and technological revolution.”
The launch brought together stakeholders from both the public and private sectors, who received a brief demonstration of the Infor Cloudsuite system. Smart Solutions International will support the system deployment through a multi-year agreement.