Translation. Region: Russian Federation –
Source: Moscow Government – Government of Moscow –
The capital has been developing information technologies in the field of public finance for more than 12 years. This was stated Elena Zyabbarova, Minister of the Moscow Government, head of the capital’s Department of Finance, at the panel discussion “The Digital Future of the Budget: Technologies and Efficiency” at the Moscow Financial Forum.
“Today, each city sector has its own technological platform, on which both its management and the provision of services to city residents and other end users are built. And the sphere of public finances is no exception. Due to the creation of modern services, their integration with city and federal information systems, we have significantly increased the quality and speed of the budget process in Moscow, and in general, a colossal paradigm shift has occurred,” the head of the department said.
In Moscow, digitalization has helped to get rid of paper document flow, create digital workplaces, increase the speed of payments and strengthen control over the use of budget funds. Big data processing systems have made it possible to conduct a detailed industry analysis of budget revenues, monitor the state of the economy and significantly increase the accuracy of assessing the income of the city treasury.
The discussion participants emphasized that further digitalization is impossible without deepening integration between departmental information and analytical systems, developing unified standards for managing and accounting budget funds. Big data processing technologies and artificial intelligence algorithms are coming to the forefront today.
The use of artificial intelligence algorithms significantly expands the capabilities of financiers: the machine can be trusted to carry out routine operations and free up the time of specialists for analytical work.Department of Finance of the City of Moscow already working service using computer vision when authorizing transactions of treasury support participants. In addition, the department is implementing algorithms for robotizing the formation and authorization of payment documents for payment of government contracts.
A fundamentally new system has made it possible to unify budget accounting procedures in Moscow centralized budget accounting model. It enables accounting according to general rules using a single chart of accounts and document forms and at the same time in accordance with the specifics of various urban economic complexes. Digital accounting allows obtaining large data sets and comparing the financial and economic performance indicators of institutions.
Together with the Federal Treasury of the Russian Federation Department of Finance of the City of Moscow is working on the implementation of customer-oriented services. This is the use of the Mir payment system for all types of social payments to residents of the capital and the creation of an automated payment system for city purchases of goods and services using fast payment technology.
“In the future, budget management will be based on constant diagnostics of changing conditions. On the one hand, it will become fast and flexible, comfortable for all participants in the process, and on the other hand, it will eliminate possible errors as much as possible and provide a high level of security,” Elena Zyabbarova emphasized.
The use of digital technologies to improve the quality of life of city residents is in line with the objectives of the national program “Digital Economy of the Russian Federation” and the Moscow regional project “Digital Public Administration”. More information about this and other national projects implemented in the capital can be found Here.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.