The Bureau of the Treasury (BTr) has started implementing its National Government Collection and Disbursement System that now allows Authorized Government Depository Banks (AGDBs) to upload online daily and monthly collection reports to its electronic database.
In a report to Finance Secretary Carlos Dominguez III, the BTr said the system will also expedite the consolidation of reports and the process of issuing Certificates of Deposited National Collections to National Government (NG) Agencies.
The BTr said this online system underwent development last year and was launched in May 2021.
Dominguez has ordered all agencies attached to the Department of Finance (DOF) to implement their respective digital transformation programs long before the pandemic.
Starting in March 2020, the BTr has also put in place its Client Relationship Management (CRM) System for the National Registry of Scripless Securities (NRoSS) which serves as a portal where NRoSS participants can raise a ticket to report issues, concerns, and queries related to the NRoSS System.
It enables BTr to promptly address NRoSS-related queries and monitor the progress of each ticket, perform analysis of data logged in the system, and provide a feedback facility that serves as a measure of the satisfaction upon resolution of each ticket.
The BTr also allows online payments for NRoSS tokens/ maintenance fees to allow users to pay through auto-debit arrangements with their banks.
This year, the BTr has also launched the Online Fidelity Bonding System to allow the electronic submission and processing of fidelity bonding requirements, and e-payments through the LinkBiz portal of the Land Bank of the Philippines (LandBank).
The Treasury also has an online Records Management System and Legal Information Archive to facilitate its legal documentation and investigation functions.
Its other digitalization projects include upgrades to the NRoSS, which modernized the existing auction and registry platforms and is capable of performing core functionalities including the full management of primary market activities; the electronic registry centralization and settlement of government securities; the tax-tracking of secondary market trades; and the facilitation of securities transfers for trade and non-trade transactions.
In line with its financial inclusion initiatives, the BTr has also allowed the online submission of retail treasury bond (RTB) orders, along with the online ordering of government securities, which has benefited small investors.
Government Securities Eligible Dealers (GSEDs) may now submit their retail bond switch orders through the NRoSS.
Previously, GSEDs were required to fax or mail documentary requirements, which were then manually encoded by the Securities Origination Division into the NRoSS.
Small retail investors, meanwhile, can purchase government securities through the BTr Online Ordering Platform for LandBank, Development Bank of the Philippines (DBP), First Metro Securities Brokerage Corp. (FMSBC), and China Banking Corp. (ChinaBank) account holders; the Bonds.Ph mobile app, and the Overseas Filipino Bank (OFBank) app.
To simplify the monitoring and recording of the non-financial assets of the NG, the BTr has set up the National Asset Registry System (NARS), which maintains a comprehensive list of all strategically important assets such as land, buildings, roads, bridges, irrigation systems, and dams.
This system will facilitate better management of these assets including the provision of necessary insurance measures, the BTr said.
The BTr has also put in place its Project Monitoring Information System (PROMIS) that enables the monitoring of ongoing projects at each stage of procurement and implementation.
This system will automatically log milestones, updates, and activities, and alert the management for any possible delay.
Its online Treasury Single Account Reporting and Monitoring System (eTRAMS), which was developed in partnership with the LandBank, aims to monitor revenue collections and disbursements of the NG, while the BTr Mobile Application was designed as a centralized platform so users can understand the functions of the Bureau, learn about the different types of government securities, and easily access online ordering platforms and other investment channels.