Baku:Azerbaijan is set to introduce an automated system for accounting goods purchased by state institutions under contractual agreements. This development was announced by Nurlan Soltanov, Head of the Modern Technologies and Innovations Department of the Ministry of Finance, during the “Digital Financial Ecosystem A New Stage in Governance” conference held in Baku.
According to Azeri-Press news agency, the new system will involve the integration of electronic contract, electronic treasury, and electronic accounting systems. This integration aims to enhance public financial management by automatically reflecting contract-based purchases in the electronic accounting system, thus eliminating the need for state institutions to repeatedly input the same data across various systems.
Nurlan Soltanov highlighted that this initiative is expected to reduce the time spent by state institutions on financial operations, simplify accounting procedures, and boost the efficiency of fund management. Furthermore, the integration of these electronic systems will expedite treasury payments and improve information accessibility for state institutions and suppliers.
Soltanov emphasized that once all subsystems become fully operational, the capacity for efficient public fund management will significantly increase.