It is widely known that the government bodies and their processes generally have a traditional approach. There were a few that used modern techniques and even then came across limitations due to a manual intervention being required at many steps that followed. Furthermore, in most developing countries (DCs), budget execution and accounting processes were either manual or supported by obsolete and inadequately maintained software applications.
Due to the absence of a system that could streamline these financial processes, governments in DCs encountered issues related to budget planning, expenditure tracking and delays in result reporting, among many others. These issues ultimately led to an excess of arrears, extra borrowing and misallocation of resources by the government. In light of these adverse developments, many DCs were pushed to adopt a financial management information system (FMIS) project to strengthen their Public Expenditure Management (PEM) systems.
Pixelvide, a Hyderabad based Smart-Governance start-up recognized the requirement for an advanced and efficient PEM system and fulfilled the need of the hour by developing IFMIS. Pixelvide started in 2011 when the founder Prathyush Jeereddy was still studying in BITS Pilani, Hyderabad. Their journey began with a team of five passionate techies wanting to make a difference. Today, the organization has grown to have over 100 people working under its banner.
“We are a group of people motivated to bring about social change using technology at the core,” informs the team at Pixelvide. The company intends to solve large scale problems that exist in the government and its operations. Their flagship product, IFMIS does just that – and is one of India’s finest financial management solutions.
IFMIS provides an integrated and intelligent package to enhance the effectiveness and transparency of public resource management. It includes automation of the Official Bills Submission, Receipts Management, Accounting System, Budget Estimate Formulation and Debt Analysis service for department-specific HODs under the government system.
Their FMIS solution has been greatly helping state governments in enhancing the effectiveness and transparency of public resource management, managing ways & means, regulating built up arrears and analyzing the state’s financial position more effectively.
As a function of good governance, Financial Management (FM) forms an integral part of the development process in all Bank-financed operations and a country’s institutional strengthening efforts. It plays a crucial part in achieving the World Bank Group’s (WBG) goals of ending extreme poverty and boosting shared prosperity in a sustainable way.
The Dynamics at Pixelvide
“The meaning of life is to live authentically and powerfully, creating one’s own goals and values.”
– Friedrich Nietzsche
The team at Pixelvide derives meaning from the above quote by helping implement good governance policies for the betterment of the nation. Pixelvide strives to build the next breakthrough in government space each day.
What makes the organization different from the others is its young and enthusiastic professionals who have been selected from the best colleges in the country. The dedicated engineers are committed to the relentless pursuit of inimitability and quality to be the go-to product engineering company for every requirement in a client’s product life cycle. It is not just the professional approach that makes the firm tick but a healthy work-life balance that helps Pixelvide succeed.
The team at Pixelvide has had its share of challenges. One of them was keeping up with the cutthroat timelines for some projects. “You have to deliver on time, as a lot of things are at stake. State governments and other authorities depend on your product heavily. So, delivering at the right time matters a lot,” Prathyush explains. Implementation of products was also one of the major challenges the company has faced over its tenure. Even with the difficulties, Pixelvide continued to persevere and following its success is foraying into domains like smart metering infrastructure, land digitalisation and traffic automation systems in the government space.
Agents of Smart Governance
Implementing their vision in Smart Governance one product at a time, Pixelvide has advanced into the sector of land digitalisation. In an effort to provide clear land titles and secure ownership through conclusive titleship, they have employed advanced survey techniques. Using the CORS network to achieve centimeter accuracy positioning for cadastral mapping, land information management etc., they plan on putting an end to 703 types of land conflicts impacting over 67 lakh people in 24 lakh hectares of land. This will ultimately release a locked-in investment amounting to over 18 lakh crores in India.
They are also developing smart data communication systems – “DCT Box” using IoT to automate electricity meters in India. It is an intelligent device connected the pre-existing conventional energy meters and relays. A DCT Box facilitates two-way communications between energy meter and central server enabling remote reading, monitoring & control of electrical energy meters. It will serve to achieve an efficient and reliable electricity distribution system, reduce energy costs and cut carbon footprint. Pixelvide envisions that this technology will pave the way for further power sector solutions such as billing automation, consumption pattern analysis, demand forecasting for power and transparency in supply of free power among many others.
In the long run, the company wishes to continue working in the government space and provide innovative technology-based solutions for challenges that exist within the government. “Truth be told, there are very few companies in the government space doing what we do and with the kind of technology, we are using and there’s definitely no one doing it the way we are.”, Prathyush signifies.
