What is the object of the project?

The object of the project is to replace the existing Accounting and Financial Management systems, as well as the Personnel Management system being currently used by the Deposits and Loans Fund, with a single, integrated information system that will meet the needs of the Project Owner, so as to enable the full monitoring of the financial and administrative affairs handled thereby, as well as the monitoring of its personnel.

What are the purpose and objectives of the project?

The purpose of this project is to procure and commission Integrated Information Systems for the Management of Financial and Accounting Affairs and of the Human Resources of the Deposits and Loans Fund, aiming at:

• The harmonisation (updating) and the change of the current Accounting Framework according to the equivalent set out by Presidential Decree 54/2018 “Determination of the content and entry into force of the Accounting Framework for the General Government” (with effect from 1/1/2025), as well as the exceptions that the Deposits and Loans Fund may have.
• The reconciliation of accounts, by automating the recording of information.
• The creation of financial reporting.
• The processing of financial data through Reports produced.
• The modernisation and optimisation of human resources management.

The “Financial and Accounting Management Information System” has the following main objectives:

• Its effective interconnection with all existing local applications that produce accounting results and the extraction of relevant accounting information.
• Allowing for its full interconnection with the Integrated Information System that is going to replace the aforementioned existing applications for the extraction of the relevant accounting information.
• Allowing for its full interconnection with a DMS for the storage, retrieval and monitoring of the documents issued.
• The issuance of documents in accordance with the provisions of Law 4727/2020 on the Issuance of Electronic Public Documents, in conjunction with the provisions of Presidential Decree 471/1975, as in force.
• The accounting presentation and monitoring of all transactions of the Deposits and Loans Fund through the aforementioned extraction of accounting information, the recording of all accounting actions of the Deposits and Loans Fund, the keeping thereof in an autonomous and secure database, the collection thereof in accounts and groups of accounts, as well any other form of processing.
• The automation of financial and accounting management procedures.
• The improvement and automation of financial reporting.
• The dynamic harmonisation and updating of the current Accounting Framework according to the equivalent set out by Presidential Decree 54/2018 “Determination of the content and entry into force of the Accounting Framework for the General Government” (with effect from 1/1/2025), as well as the exceptions that the Deposits and Loans Fund may have therefrom.

What are the expected benefits of the project?

The following benefits are expected from the implementation of this project:

• The full automation of the procedures for monitoring and processing accounting and financial figures, as well as issues related to Human Resources Management at the Deposits and Loans Fund, through the gradual replacement of its existing IT applications.
• The improvement of the quality of the services provided.
• The ability to provide parameterised information and statements.
• Increasing productivity through the automation, grouping, optimisation and standardisation of time-consuming procedures.
• More effective strategic decision-making for the Organisation, through the immediate automatic creation of targeted financial statements for the provision of crucial financial reporting, on the one hand, and Human Resources statements for the better management of human resources, on the other hand.