New Delhi: In a revolutionary decision the Indian Navy will launch its
force-wide automated Financial Information System (FIS) on Saturday. The latest
system is expected to simplify decision-making and enhance transparency in its
monetary dealings.
With the inauguration by Defence Minister AK Antony the FIS
developed by Wipro at a cost of Rs 32 crore will be commissioned into the Navy on
Saturday. Indian Navy chief Admiral Nirmal Verma will also be there at the
launching.
For starters, FIS will help manage the $13 billion the
Indian Navy has been been allocated in the budget for 2012-13.
The system took 22 months to develop with involvement of
about 1000 man months and effort by 60 members from the Indian Navy and Wipro,
the officials said.
The FIS will replace the legacy system of budget management
that happened predominantly manually and took nearly 45 days of every year in
preparing for the processes of allocation and utilisation.
The FIS will link the Delhi-based Naval Headquarters with
Command Headquarters and various ships and establishments across different
locations to provides a central database to view data on allocation and
reallocation of funds, receipts and recoveries, commitments, expenditure and
other estimates.
The newly made system is also expected to assist in standardisation
of forms and reports across the organisation and provide consistent and
up-to-date information on demand to the users with enhanced transparency.