Transparency, efficiency, and accountability are essential pillars of effective governance. As such, leveraging technology to enhance these elements and improve oversight has become a critical priority. At Smart Galaxy Solutions (SGS), we recognized the specific needs of the Sharjah Finance Department (SFD) and developed RASED in direct response to our valuable strategic partnership. This advanced system is designed to detect financial irregularities in real-time within the government financial system (known as Takamul*), a key component of Sharjah’s financial management strategy.
* Introduced in 2006, Takamul has established itself as a leading integrated system for government financial resources in the Arab world
THE VISION BEHIND RASED
RASED was designed out of the need for an advanced, proactive approach to financial monitoring, ensuring that all government entities transactions align with the strict financial governance policies set by the Government of Sharjah. By utilizing artificial intelligence, RASED can review and audit predefined financial transactions autonomously, identifying irregularities that may suggest non-compliance, fraud, or other financial risks.
The Sharjah Finance Department, which oversees the government’s financial system, recognized the importance of this technology. Through RASED, SFD now manages over 80 entities across the Emirate of Sharjah, allowing for full-scale monitoring and seamless integration with Takamul. The system’s precision and scalability have transformed how financial oversight is carried out in Sharjah, offering unparalleled insights into financial activities across all government entities.
How RASED Works
At the core of RASED’s functionality is its ability to integrate seamlessly with Takamul, where it automatically scans and audits financial transactions in real-time. Pre-configured rules, based on the Government’s financial policies, are applied to every transaction. If a potential violation is detected, RASED immediately flags the transaction for further investigation.
One of the most impressive features of RASED is its interactive geographical mapping tool. This tool provides a full map of Sharjah, displaying all government entities connected to the system. Entities where violations have been detected are marked in red, allowing users to quickly identify areas that require attention. Additionally, users can click on any entity marked on the map to view a summary of the irregularities detected, as well as access a detailed report for in-depth analysis.
Real-time alerts are sent to users when irregularities are found, ensuring that potential issues are addressed immediately. This instant notification system ensures that financial risks are managed proactively, preventing them from escalating into larger issues that could affect government operations or public trust.
RASED’s Role in Enhancing Finance Management
RASED isn’t just a financial monitoring tool; it’s a transformative platform that has changed how the SFD operates. By automating the detection of financial irregularities, RASED reduces the time and effort required for manual audits, freeing up resources to focus on more strategic initiatives. It also eliminates the risk of human error and provides an unbiased, data-driven approach to identifying risks within the system.
Beyond its immediate benefits to SFD, RASED also offers significant advantages to the government entities it oversees. With greater transparency and accountability, entities can better manage their resources and ensure they remain compliant with government financial policies. This reduces the likelihood of budget overruns, mismanagement, or fraud, ultimately improving service delivery to the public.
RASED’s Impact at GITEX 2023
RASED made its debut at GITEX 2023, where it was launched amidst fierce competition. At the event, numerous government systems representing the Government of Sharjah were showcased, but RASED stood out due to its innovative approach to financial monitoring. Its impact was undeniable, and RASED took home first place, solidifying its role as a groundbreaking solution in the realm of public finance management.
This achievement wasn’t just a win for SGS — it was a victory for the SFD and the Government of Sharjah as a whole. RASED’s success demonstrated the government’s commitment to leveraging cutting-edge technology to improve transparency and governance. It also served as a signal to other governments in the region that the future of public finance lies in the power of AI-driven monitoring systems.
For those interested in learning more about RASED’s official launch and its impact at GITEX 2023, further details can be found in the article published on Sharjah24 through the following link .
Key Benefits of RASED for Government Entities
Real-time detection of financial irregularities: With its continuous scanning of transactions, RASED ensures that any financial discrepancies are caught immediately, allowing for quick intervention.
•Comprehensive map-based interface: The system’s geographical tool provides a holistic view of all government entities in Sharjah, making it easy to monitor and respond to violations as they occur.
•Detailed reporting: RASED generates comprehensive reports that provide users with in-depth analyses of the violations detected, ensuring that every detail is accounted for in follow-up investigations.
•Increased efficiency: By automating many of the processes traditionally associated with financial auditing, RASED allows government entities to focus on their core responsibilities, enhancing overall productivity.
•Scalability: RASED is designed to handle a vast number of entities, making it suitable for governments of all sizes, and its AI-driven approach ensures that it can adapt to new financial policies or rules as they are implemented.
Looking Ahead: RASED’s Role in the Future of governments Finance
As we look to the future, the possibilities for RASED’s application are vast. The system’s success in Sharjah has opened doors for potential expansion into other sectors and regions, demonstrating that AI-based financial monitoring is not just a luxury but a necessity for governments aiming to modernize their financial oversight frameworks.
For SFD, RASED represents the next evolution in public finance management, one that prioritizes accountability, efficiency, and transparency. By continuing to refine and expand the capabilities of RASED, SGS is committed to helping governments to enhance their financial systems, ultimately leading to better governance and improved outcomes for citizens.
