SIVECO Romania launches a new information module: Financial management of structural funds projects | SIVECO Romania

SIVECO Romania launches a new information module: Financial management of structural funds projects

Friday, September 17, 2010

Organizations can efficiently monitor running of European projects from the financial-accounting perspective

Bucharest, 17th September 2010 - Running European projects implies the need to closely monitor them especially from the financial-accounting point of view. In order to support institutions that currently access structural funds having to comply with the financing organization's requirements, SIVECO Romania have launched the Module for Project's Financial Management.

This is based on the components SIVECO Applications 2011 - the business management solution of SIVECO Romania - and is addressed to organizations running projects funded by European funds, irrespective of the fact they have implemented or not the integrated information system SIVECO Applications 2011.

The module manages the registration, processing and reporting flow of the contracted projects. This means registering all the information regarding real time project's development and access to it, the project's registration on a single data processing flow, carrying out reports on each project's status, releasing reports according to the legislation in the field of granting structural funds, namely: Reimbursement request, the Technical-financial report, Record of expenses, Tentative schedule for submission of reimbursement requests, the possibility to develop new reports during the project's development.

The module interacts with the following components of SIVECO Applications 2011: Contracts Management Component, Procurement Management Component, Payroll Management Component, the Financial-Accounting Management Component, Fixed Assets and Inventory Management Component, Budgets Management Component. Depending on the projects' complexity, the integrated information system SIVECO Applications 2011 allows using all the components.

"The Projects' Financial Management Module supports nongovernmental organizations, private companies and public institutions eligible for structural funding and especially projects' coordinators and the staff responsible for carrying out projects and their financial management", has said Lăcrămioara Bărseti, ,Manager SIVECO Applications 2011, within SIVECO Romania.