RSUSCI-2021 & RSUSOC-2021
IN21-205 Resiliency through Financial Management Information System Innovations in the Impact of the CoViD-19 Pandemic
Presenter: Daniel Jonborgh Oliva Diaz
-, College of Computer and Information Science, Malayan Colleges Laguna
Abstract
As the global community deals with the financial and economic effects of the CoViD-19 Pandemic, many nations struggle as they allocate funds, monitor their economy, and enact policies preventing further socioeconomic decline. This study aims to identify and understand the instances when these systems in the Philippines and South Korea were used amidst a global pandemic by enabling resiliency and understanding the application of innovation and technologies in these solutions. This study made use of a literature review to review qualitative articles, journals, research, whitepapers, and quantitative data to provide an insight into the objectives that made use of convenient sampling to choose the systems/countries/instances to be chosen. After reviewing 2 instances and scenarios, it was found that both systems; a digital Budget and Accounting System from South Korea and a National Retail and Payment System (a part of PhilPaSS), performed exceptionally on what they were intended to do. While South Korea’s d-Bas/d-BRAIN allowed for effective asset and budget management, the Philippines’ PhilPaSS allowed an effective decision support system to its respective government institutions or organizations. Conclusively, combining what the two systems were able to achieve and their functional model provides a good insight into how these FMIS systems will truly enable Global financial resiliency and financial information integration.