The Karnataka government desired an integrated system that would minimise redundancies and data conflicts, resulting in a reliable framework for making accounting decisions with simplicity. When the system works well, it allows the government to keep an accurate record of all transactions and allows for a more disciplined approach.
The approximate turnaround time for the processes decreases as well. Furthermore, the task is completed efficiently and at a low cost. Data duplications and corrupt data are not recorded into the system, therefore clean records are preserved.
Functions of Khajane
Khajane is a piece of software built and developed by CMS, a TATA subsidiary. The treasury department is in charge of managing accounts and remittances to the government. They also take into account payments made on the Karnataka Government‘s behalf. The application handles payments, receipts, stamps, pensions, deposits, and so forth.
Features of Khajane
The following are key aspects of the Khajane Software:
- Stamps and strong room
- Social security Pensions
- House Maintenance
Benefits of using Khajane
Khajane allows all treasury functions to be automated. The software was used to do bill clearance and other operations. The majority of the functionalities have been effectively smoothed. The software made it simple to generate receipts, payment data, and deposit details. Another feature of the software was its sophisticated technique of tracking details.
One might obtain information about lapsed data on deposits, payments, and so forth, and the governance could run smoothly as a result. The stamp inventory details saved in the system aided in keeping a clear record of inter-treasury unit transactions. Pensioners benefited from the system since it allowed them to readily examine the detailed allocation of their money and keep track of the number of persons who collect their pensions.
The programme has been designed to be modular and user-friendly. A separate treasury team oversaw the development of each module. Because of the modular architecture of the application software, the department was able to add numerous new features to the project without disrupting or rebuilding the current fundamental software.
The application software meets the needs of the department by addressing all types of treasury transactions.
The modules are as follows:
(iv) Stamps and Strong Room
(vi) Social Security Pensions
(ix) House Keeping and
(x) Master Maintenance
The project is intended to meet not only the demands of the department, but also the needs of the other line departments. It is an integral aspect of the budget system reform, therefore it is intended not just to fulfil current needs but also to support any future needs that may arise.
As a management tool, it provides information needed for decision making from the level of the Drawing Officer to the highest level. Apart from normal accounting reports, it is designed to generate a variety of custom reports for internal and external usage, although being primarily rooted in the government accounting system.
The system’s essence resides in its ability to collect, process, and deliver information to all parties involved in real time, as precisely and quickly as possible. Financial controls and accountability have been reinforced as a result of system validations and internal controls.
Without a question, the initiative has ushered in a new level of financial discipline, which bodes well for the financial management of public funds. The full potential of the project, in the form of massive amounts of high-quality data created, may be better used for monitoring, reviewing, planning, auditing, and studying trends and patterns in income receipts and expenditure, among other things.