Since 2020, the RA Ministry of Finance has initiated the implementation process of the Government Financial Management Information System (GFMIS). The objective is to enhance efficiency and improve the reporting of the Public Finance Management (PFM) by digitalizing and optimizing the core business processes of PFM.

As part of the implementation of GFMIS in 2021, the Ministry of Finance together with the consulting company (“Harmony” Foundation) involved on a competitive basis, the business processes of the GFMIS six modules were inventoried, listed and studied. These modules include Budgeting, Treasury, Public Sector Accounting, Public Procurement, Public Debt and Internal Audit.

Based on this, a new general concept of GFMIS was developed: the business processes of all modules, their connections, as well as data exchange and their structure were optimized.

From now on, the draft of the Terms of Reference for the acquisition of the GFMIS implementation software was developed, based on the new concept of the GFMIS.

Since June 2023, the Ministry of Finance has been studying and analyzing the market of possible participants to account IT companies, the level of their capacity, and the general interest in the upcoming tender to obtain the most comprehensive understanding of the draft Terms of Reference of GFMIS by potential bidders.

In particular, in order to ensure transparent, high-quality and fair conditions for the upcoming tender, the Ministry contacts large local and foreign IT companies on the development and implementation of GFMIS, informing them about the organization of the tender, their possible participation and cooperation.

Please send your questions about the GFMIS to the following email address:  See the answers in the corresponding section of the official website of the Ministry of Finance "DIGITAL AGENDA", ”Questions and answers”.

Draft ToR on Government Finance Management Information System implementation

Updated: 09.01.2024