The Cooperative Development Authority (CDA) entered the world of automated financial management system known as Budget and Treasury Management System (BTMS) last January 2021. The Finance Division, together with the Central Project Management Group (CPMG-DBM) started encoding its paid transactions using the catch-up mode.
BTMS is a reform being introduced to all national government agencies which promotes transparency, accountability and efficiency in all its financial transactions and aims to achieve paperless transactions in the very near future. The system starts with encoding purchase orders and requests, with the process ending in the printing of the Financial Reports.
It is a real-time financial management system because at any given point in time, the agency and the oversight committee can look into its financial performance. With the timely and accurate information, the committee can guide the CDA to achieve 100% utilization rate.
Big players using the BTMS include the Department of Budget and Management (DBM), Bureau of Treasury (BTR), Department of Education (DepED), Department of Finance (DOF), Department of Public Works and Highways (DPWH) and the Department of Trade and Industry (DTI).
DBM and BTR plans to expand the usage of BTMS to cover all national government agencies (NGAs), local government units (LGUs) and government-owned and controlled corporations (GOCCs) to achieve full automation of the Philippine financial landscape starting 2021 and beyond. /veeliwanag/