All you need to know about IFMIS

IFMIS is a financial management that is used in e-procurement to minimize graft in the public sector. His Excellency Hon. Uhuru Muigai Kenyatta issued directions for the public entities to adopt public procurement.

He argued that for transparency and accountability of the public expenditure, adoption of E-procurement is paramount. E-procurement would close the loop holes for corruption.

This received great objection from our peculiar leaders. Why would they do that? According to them, E-procurement adoption was expensive. They had two perspectives for their argument. They said that E-procurement was an expensive investment, and that the public entities lacked the qualified labor to handle the system.

However, the Country boss did not lighten his stand. He threatened great consequences for those who did not adopt public procurement in their departments.

IFMIS which is abbreviated for Integrated Financial Management Information System is software used in E-procurement. It is comprehensive enough to include all the steps in public procurement.

If adopted, IFMIS will streamline the whole public procurement process leading to transparency and accountability. Unlike the traditional procurement process, e procurement is hard to manipulate hence will lead to reduced malpractice in the procurement process.

IFMIS is the answer to the misuse of public funds and corrupt dealings in the public sector. It will replace the current uncoordinated accounting and budgeting system that makes it easy for dishonest officers to collude with suspected cartels in defrauding the government.

IFMIS will ensure fair dealings in the tendering process. It will ensure automation of the whole procurement offices. Through E-tendering, E-sourcing, E-payment, E-auction e.t.c, the suppliers will have equal chances of winning a public sector tender.

According to the Public Procurement and Disposal Act, 2005, public entities should conduct a free and open procurement procedure. To make this feasible, experts recommend on the adoption of E-procurement.

Public procurement constitutes about 50 percent of the government’s annual budget. Adoption of E-procurement will save the government a lot of financial resources and help in instilling confidence among taxpayers that they are getting value for their money.

IFMIS will strengthen the government-supplier relationship by providing easy access to information and documentation, simplify the bidding process and ensure cost saving for the Government and taxpayers.

Apart from reducing graft in public procurement, IFMIS will also make the whole procurement process efficient and effective. Adopting IFMIS is like a birth of a whole new procurement process!