Integrated Financial Management Information Systems in Decision Making

The use of Integrated Financial Management Information Systems (IFMIS) in organizations is one of major factors for successful managerial decision making. Where financial information required for decision making is not available at the right time organizations have a potential threat to poorly made decisions. However, despite IFMIS wide range of tools to enhance efficiency in financial planning, budgeting, procurement, expenditure management and reporting, the extent to which financial managers use them to enhance their daily financial decisions is still minimal. IFMIS capacity to collect, process, store and provide timely and accurate financial information is underutilized, especially in underdeveloped countries, including Tanzania. This book therefore provides to financial managers a number of lessons learned from Tanzania Telecommunications Company Limited and Tanzania Electrical Supply Limited, in Tanzania, in regard to the use of IFMIS in business organizations.