April 1st, 2020, Republic of Palau’s new finance and accounting system went live using Tyler Technologies’ Munis, an Enterprise Resource Planning (ERP) solution.
The new system replaced Palau’s 20-year old legacy system which had limited software functionality, integration and data extraction capabilities. The new system incorporated the use of scanned images, workflow approval, flexibility, and more comprehensive functionalities.
Improvements will include a significant reduction of the time it takes for vendors to receive payments for goods and services, for vendors to receive purchase orders (PO) via email, and for the government to be able to review scanned images related to records quickly from user’s desktop. The electronic workflow approval reduces paperwork and reduces the amount of time it takes to get approval. Overall there will be increased efficiency.
The project has 2 phases. The first phase which is completed here included the implementation of modules for account payable, accounts receivable, budget, capital assets, cash management, cashiering, employee expense reimbursement, general billing, general ledger, project accounting, and purchasing.
Phase 2 which will be completed in July of this year will incorporate modules on human resources, payroll, talent management, personnel actions and recruiting.
The project has been ongoing with training sessions, configuring new system’s chart of accounts and converting historical data from the legacy system. Training with the Palau IT team has been ongoing as well to learn the troubleshooting and maintenance functions of the system.
When Phase 2 is completed, employees will be able to check their earnings and annual and sick leave online using Tyler Employee Self Service module.
“I congratulate our team for their effort in implementing the Munis system,” said Minister of Finance ElbuchelSadang. “As we move forward with Munis, I believe our investment in this mission-critical system will bear out, with improved efficiency, accuracy and transparency in our business functions.”
The project is funded by a grant from the United States Department of the Interior under the Compact Review Agreement (CRA). The implementation is said to be on time and on budget.