New initiative launched to boost financial planning, cash forecasts

DUBAI / WAM

The Ministry of Finance (MoF) and the Federal Authority for Government Human Resources have launched the first phase of the ‘e-link’ project between the Financial Planning System, the electronic federal budget, “Hyperion”, and the Human Resources Information Management System in the Federal Government, “Bayanati”. The project has been launched to enhance financial planning and cash forecasts, support Federal Budget automation, contribute to financial sustainability in ministries and federal agencies, and ensure the efficient allocation of financial resources and optimal use of modern technologies.
Younis Haji Al Khoori, Undersecretary at MoF, stressed the importance of the two projects, saying, “The e-linking project between Hyperion and Bayanati, which is used by 39 ministries and federal entities, will contribute to achieving the directions of the wise leadership of the UAE, led by President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, to shape the future by accelerating the smart transformation of all government institutions. This will strengthen the position of the country, locally, regionally and internationally”.
Al Khoori said that the first phase of the e-link project between Hyperion and Bayanati includes withdrawing necessary information to prepare the budgets of ministries and federal entities from the Bayanati system. This information will then be filtered and play a major role in reducing the time and effort put into the preparation of the budget. It will also support decision-makers in the country by giving them more accurate and comprehensive idea on the federal budget.
MoF will launch second phase of the e-link project between ‘Hyperion’ and ‘Bayanati’ in collaboration with the Federal Authority for Government Human Resources in September 2017, the undersecretary added. This phase will include completion of the binary binding process for entering the approved federal budget automatically from the ‘Hyperion’ to ‘Bayanati’ system, and vice versa.
MoF, in collaboration with the Federal Authority for Government Human Resources has also launched the’ Multi-Business Groups’ project, which allows ministries and federal entities that operate the “Bayanati” and federal financial system, to be flexible in implementing human resource laws and regulations, as well as financial systems amongst their own employees.
He revealed that MoF is also currently working with the Federal Authority for Government Human Resources to link ‘Hyperion’ with the Strategic Planning system for workforces which the Authority released in 2014. The link will support the development of the five-year federal budget based on scientific factors, helping to shape the future through identifying the outlook for workforces within the UAE, Al Khoori explained.
The Multi-Business Groups project benefit 13 federal entities which currently use the ‘Bayanati’ system. MoF and the Authority will be able to automate the laws, regulations and procedures of the ‘Bayanati’ system, whilst ensuring that ministries and entities with their own processes for human resources are not affected. Dr Abdul Rahman Al Awar, Director-General of the Federal Authority for Government Human Resources, said that the UAE has achieved significant milestones in smart transformation.