Azerbaijan plans to introduce automatic accounting of goods purchased under contracts concluded by state institutions in the electronic accounting system, Nurlan Soltanov, Head of the Modern Technologies and Innovations Department of the Ministry of Finance, said at the conference titled "Digital Financial Ecosystem: A New Stage in Governance" held in Baku, APA-Economics reports.
According to him, the integration of electronic contract, electronic treasury, and electronic accounting systems will create new opportunities in public financial management.
N. Soltanov noted that goods purchased under contracts will automatically be reflected in the electronic accounting system. This will eliminate the need for state institutions to repeatedly enter the same information into different systems.
He stated that this innovation will reduce the time state institutions spend on financial operations, simplify accounting processes, and increase efficiency in the management of funds.
The ministry official added that the mutual integration of electronic systems will also accelerate treasury payments and increase the accessibility of information for state institutions and suppliers.
"As all subsystems become fully operational, opportunities for the efficient management of public funds will expand further," Nurlan Soltanov emphasized.
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