REFORMING THE LIQUIDITY PLANNING PROCESS OF THE NATIONAL BUDGET - STUDY CASE IN SLOVENIA

Abstract

The constant development of new technologies and tools is forcing organisations to change. In the research part of this article, an example of a concrete process that we had to reform due to the outdated information system that no longer performed the support function for the liquidity planning of the national budget planning process under examination is demonstrated. It includes a presentation of the examined reformation process and the effects of the improvements achieved through the implementation of TAD methodology, the consideration of interviews with the participants in the process, and our own experience gained through cooperation in the development and implementation of the process. Through our own research - analysis of the reformed process - we found that organisational, substantive, technical, and mental changes are necessary, for they enable the organization an improved and quality business, and it is through the appropriate approach that the employees feel more motivated to perform their daily tasks because inclusion in the renovation process adds value to them according to the opinion of 59% of the participants in the reformed process. We found that the reformed process is 50% quicker, saving EUR 3 394.80 in costs per year and that the reformed process makes the acquired data and information more accurate, reducing errors by 72%. We found that through the implementation of the examined reformed process, 466 hours of saved time could be used to produce various analyses and reports enabled by the reformed information system of the examined organisation. This also means added value in further forecasting cash flows and carrying out simulations taking into account certain event scenarios that may affect the liquidity of the national budget.