The Department of Finance in Ajman has unveiled its cloud-based ‘Smart Financial Planning System’ at GITEX Global 2024.
Developed in collaboration with Oracle, a renowned cloud solutions provider, the system aims to revolutionise government budget management in the Emirate of Ajman.
Speaking to the Emirates News Agency (WAM), Sahar Al Tuniji, Director of Financial Applications at the Department of Finance, explained that the system is designed to enhance efficiency and effectiveness throughout the budget lifecycle, from strategic planning to implementation.
By leveraging Oracle’s EPM Cloud platform and employing advanced artificial intelligence, the system can analyse vast amounts of data, including macroeconomic indicators, to generate accurate financial forecasts. These forecasts enable government entities to make informed decisions and anticipate future revenue and expenditure trends for up to ten years.
Source: Emirates News Agency