The Philippine Deposit Insurance Corporation (PDIC) recently signed a contract with Total Information Management (TIM) to implement an Integrated Financial System (IFS) that will replace its current semi-automated processes. The IFS is designed to increase efficiencies in the various facets of PDIC’s operations in order to improve PDIC’s public service delivery.

The project, which will run for 6 months, will be undertaken in two phases. The first phase involves the acquisition of an IFS that will customize the Financial Accounting System (FAS) and Treasury Investment Management Systems (TIMS). This will integrate PDIC’s current accounting system as well as help in the prudential management of the Deposit Insurance Fund (DIF).

The second phase involves the integration of various systems related to PDIC’s Human Resources Information System, Procurement Management System, Fixed Assets Management and Supplies Inventory Management System.

In implementing PDIC’s IFS project, TIM, a wholly Filipino-owned information technology company involved in business process outsourcing and technology solutions, will supply, install and configure the required hardware and software, as well as provide personnel training. TIM has partnered with Kaisa Consulting, which will develop the SAP software for the financial and investment systems of PDIC. Overall, the IFS project is aimed at improving organizational performance and productivity.