Treasury ‘Wastes’ R1-billion on IT System

The National Treasury is accused of “wasting” R1 billion it spent on an integrated financial management system which after more than a decade it has failed to implement.

MPs in parliament’s standing committee on public accounts (Scopa) heard on Tuesday how the National Treasury’s Integrated Financial Management System (IFMS) has cost the state with nothing to show for it.

The IFMS is a management tool for the public service and was meant to integrate human resource‚ payroll‚ financial and supply chain management functions. This was aimed at cutting costs.

The implementation of the project was done in two phases after failures during the first phase. Sita‚ as the state information technology agency‚ was to have led its implementation.

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