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IMPROVEMENT OF FINANCIAL TREASURY SYSTEMS EFFICIENCIES’ THROUGH INFORMATION TECHNOLOGY

By Klodiana Gorica, Kozeta Sevrani, Edlira Luci and Dorina Kripa

Abstract

This article explores the significance and contribution of Information Technology (IT) in improving the efficensies of financial systems, especially treasury systems, related to ministry of Finance in Albania as a case study. All this process, further, will have direct impact in macro level, especially refering creating and improving a knowledge based economy, through specifically, contributing in finance and government. This new technological development in the financial industry is known as “e-finance” in the literature. Following the development of the Internet and IT and their continuously growing implementation in all fields of the contemporary society, the economic entities are provided with unlimited opportunities for improving their effectiveness and efficiency, as well as for achieving higher competitiveness on the global market. As moving from an industrial to information society will bring us soon in the path of knowledge based economy. Should Albania be the proper case of following the model that it’s based on it? Are we ready to follow up on this way? How much effective we can be? What are the Albanian experiences on this model? What we propone? These, are some of the main questions that the authors intend to gives answer. This paper is based in a detailed treatment of theory and comparing the results and discussion with Albanian case, but not only. There are treat also some other cases. This article conclude that the use of IT has fundamentally improved the efficensy and the quality of government services and financial institutions.financial systems, Treasury System IT, e-Finance, Albania Ministry of Finance

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