Customer Success Story:
State of Israel
“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 di fferent 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.
“A revolutionary system that will affect the management of the Israeli economy. It enables correct and responsible management of the economy. Previously, governments committed to items that caused large deficits, leading to budget cuts. With this technology, in two years budget cuts in Israel will not be necessary”