“The State Budget‘s Iron Dome“ – Jedox-based Solution for Israel’s Ministry of Finance
The Israeli parliament and government will continue, following the holiday season, discussing the state budget for 2017-2018, amounting to approximately 360 billion per year. Beyond debates on the various items, this year the discussions will take on a different flavor, thanks to the implementation of a Business Intelligence (BI) based system, which will drastically change auditing and budget management in the government ministries.
The new system, called Numerator, is based on highly sophisticated BI analytics (Jedox) and was implemented by Jedox partner Actiview. From now on, when a minister or member of parliament calls on the Minister of Finance to change or add budget items, the modification will be impossible to approve unless every expenditure points to an expected source of revenue. The Numerator will immediately trigger a Deficit alert, and force the budget planner to specify the budgetary source of revenue. Decision makers will be able to make an exception, but those shall be monitored – a deficit item will be created, to be added to future liabilities to be taken into consideration by those preparing the next budget.
When Finance Minister Kahlon introduced the Numerator system to the ministers, Prime Minister Netanyahu said it was “a revolutionary system which will affect the management of the Israeli economy. With this technology, in two years Israel will have no need for budget cuts.”
At a glance:
- Region: Israel
- Industry: Government
- Department: Finance
- Solution: Numerator system (budgeting application based on Jedox technology)
(The article was first published in the Israeli IT publication „Daily Maily“ by Yehuda Konfortes: Link to original article: http://www.pc.co.il/editorial/225572/)Download
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