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Europe and Eurasia

Azerbaijan Treasury Information Management System (TIMS)


Client: United States Agency for International Development

2002-2008, MOBIS

As the system integrator, CARANA collaborated with the Azerbaijan Ministry of Finance, the International Monetary Fund, and the World Bank to modernize Azerbaijan’s national treasury. The project aimed to automate the management and execution of the state budget and enhance treasury functions.

We computerized the operations for the Central Treasury and 86 regional treasury offices nationwide. The project also improved the transparency of treasury operations, expedited transaction processing, improved efficiency of expenditure management and financial controls, streamlined data compilation for improved financial analysis and decision making, and regularized data to improve checks and balances.  

CARANA and the Ministry of Finance managed several international procurements and selected international subcontractors to implement the required treasury ERP software, a database warehousing system, the needed nationwide hardware, and the wide-area data communication network system (principally via VSAT). The resulting system follows best international accounting standards and best practices for the public sector and is IPSAS-, GFS-, and IFRS-compliant.

We performed needs assessments and feasibility studies and supplied technical specifications, sizing, and support for vendor selection. We also supervised installation of the final nationwide hardware, RDBMS, and satellite-based data communications system, funded by the World Bank. Lastly, CARANA rolled out three pilot sites, trained personnel, and completed intensive functionality and load testing.