TAPPS Software

Financial Works provides Financial Accounting Reports together with Contract and Management Accounting Reports.

Financial Works enables comparison of actual performance with budgets for any period of time thus providing the basis for a sound contract administration and contract management.

Financial Management Print E-mail

FinancialWorks©, perviousely known as PAIS©

Is a comprehensive project accounting and financial management system, which operates on a data base platform. It supports an effective administration of projects sponsored by the public sector through their own budget, the private sector investing own and/or borrowed funds, projects financed by bilateral and multilateral development institutions. The Technical Specifications, Functionality, Design Standards, and System Architecture of have been defined by a multinational team comprising high level British, American, European experts.Is specially designed to provide timely, reliable and accurate project financial management information, which meets the control and reporting needs of public and private sector organisations.

Is a bespoke solution provided to support a project, at the stage of construction, installation of plant and machinery, and of consulting services such as architectural design and construction supervision, auditing, IT systems.

Is not a license sold, as others are, “off the shelf”, without the flexibility to be customised to project needs and thus provide an opportunity for the project manager to work with the FinancialWorks© team to deliver a very specific solution to a very specific problem, using the software solution to achieve it.

FinancialWorks© has been conceived and designed towards contributing to mitigate the problem of credit and investment risk and enhance capital and loan implementation performance by:

  • providing timely reports on the status on the implementation of the investment project financed by the Investor and other funding sources, including banks and/or grant donors;
  • allowing the monitoring of capital and loan/grant funds on a cent by cent basis;
  • tracking invoices and payments;
  • tracking the use of funds, whether Owner’s equity or credit funds in every type of expenditure as is the case with civil works, equipment and goods, consulting, training and installation services;
  • controlling and reporting online, in real time to investors, credit officers and every stakeholder on every pound invested and/or borrowed to the implement the construction, building, infrastructure project.

FinancialWorks© produces computerised financial statements, which are automatically updated with each transaction made, when using loan/grant funds and equity funds.

FinancialWorks© reports on the information required by managers and decision makers in projects interested in controlling “prices” agreed in each supply contract, thus it is contract management tool that allows Owners to closely monitor price and delivery performance of each contract according to those contractual aspects that matter most to Owners.

 
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