Makerere University Launches Innovative Financial Management System

In a significant step towards digitalization, Makerere University has launched its very own Financial Management System (FMS). This innovative system, developed in-house by the Directorate for ICT Support (DICTS), marks a major milestone in the university’s ongoing transformation into a digitally-driven research institution.

The launch ceremony, held on Wednesday, July 10th, 2024, was presided over by Mr. Bruce Kabaasa, Chairperson of the Finance, Planning, Administration and Investment Committee (FPAIC) of the University Council. The event highlighted Makerere’s commitment to improving efficiency, transparency, and streamlining financial management processes across the university.

This newly developed system is part of a broader strategy to modernize and streamline the university’s financial processes, making Makerere a digitally-driven research-led institution. Earlier this year, the university introduced several other digital systems, including the Research Information Management System (RIMS), Digital Academic Records and Processes (DARP), Student and Staff Attendance Management System (SAMS), and the Makerere Data Repository (MakDATA).

Transforming Financial Management

The new financial management system, created by the Directorate for ICT Support (DICTS), aims to provide a cost-effective and sustainable solution for the university’s business automation needs. It is designed to enhance the efficiency of the Finance Department by streamlining budget management across various cost centers and budgeting units. Additionally, it automates requisitions and generates digital reports crucial for decision-making.

During the launch event held in the Council Room at the Frank Kalimuzo Central Teaching Facility, Mr. Kabaasa lauded the university management for their leadership and continuous efforts to improve financial management. “I am very happy with your leadership Mr. Vice Chancellor. The processes of improving financial management continue to come along with your guidance,” he stated.

Commitment to Digital Excellence

Makerere University Vice Chancellor, Prof. Barnabas Nawangwe highlighted the university’s commitment to not lagging in the global digitalization wave. “The launch of this system is testament to Makerere’s commitment not to be left behind in the global digitalisation drive,” he remarked. He praised the DICTS team, led by Mr. Samuel Mugabi, for their dedication and innovation in developing the system. Prof. Nawangwe stressed the need for integrating all newly launched systems to ensure seamless communication and further enhance efficiency.

Acting Deputy Vice Chancellor (Finance and Administration), Prof. Henry Alinaitwe, added that the new system would significantly boost transparency in budget administration, allowing real-time monitoring of balances during implementation. “At Makerere, we want to be the best, and if we want to be the best, we must make sure that we are efficient,” he said.

Makerere University Secretary, Mr. Yusuf Kiranda reiterated the importance of digitalization in translating paper-based processes into efficient digital operations, enhancing transparency and compliance. “Digitalisation is only coming to translate what we have been doing on paper onto a digital platform, which improves efficiency and most importantly for Makerere, transparency,” he explained.

A Milestone for Makerere

The University Bursar, Mr. Evarist Bainomugisha, recognized the launch as a key milestone for the Finance Department and the university as a whole. He explained that while the university already uses the Integrated Financial Management System (IFMS), the new system addresses specific challenges by consolidating administrative units and simplifying budget management at the unit level. “I therefore thank the University Council and Management led by the Vice Chancellor for the support and DICTS for all the technical backing,” acknowledged Mr. Bainomugisha.

The event was well-attended by members of the central management, college principals, and finance department staff, underscoring the university’s collective commitment to this transformative initiative.