July 23, 2017 11:51 PM ET

Diversified Telecommunication Services

Company Overview of Innove Communications, Inc.

Company Overview

Innove Communications, Inc. provides wireline communications solutions. It provides fixed line telecommunications and broadband services, networks for enterprise clients, services for internal applications, internet protocolbased solutions and multimedia content delivery. The company also offers wireline voice services, which offers homes and businesses access to advanced telecommunications functions and features; and wireline data services, which provides business customers high-speed data services over a nationwide broadband network. Innove Communications, Inc. was formerly known as Isla Communications Company, Inc. and changed its name to Innove Communications, Inc. in 2003. The company i...

18th Floor

Innove IT Plaza

Samar Loop corner Panay Road

Cebu Business Park

Cebu City,  6000

Philippines

Phone:

63 2 415 8822

Fax:

63 2 730 2000

Key Executives for Innove Communications, Inc.

Head of Globelines Marketing
Head of Technical Solutions
Chief Administrative Officer
Chief Counsel and Director
Age: 69
Compensation as of Fiscal Year 2017.

Innove Communications, Inc. Key Developments

Innove Communications Wins PHP 495 Million Contract to Provide IT Solution to Manage Government's Budget

Innove Communications has won a PHP 495 million contract to provide an information technology (IT) solution that will manage the governments budget. Innove Communications recently entered into a partnership agreement with the government to provide a Budget and Treasury Management System (BTMS) to effectively execute and monitor annual budgets in a manner that is more transparent to the public. The project, worth PHP 495 million, involves the implementation and operation of a fiscal management solution which will be used by the Department of Budget and Management, as well as Bureau of Treasury and Commission on Audit. Later, the system will be used by all of the governments agencies and operating units. The new system will improve the timely execution of budgets to the agencies and provide timely information on the actual utilization of funds, Globe added. The new budget and treasury management system is expected to be the main source of information on government budgets, appropriations, allocations, releases, obligations, expenditure and performance reporting. The system will also improve accuracy of cash flow projections, planned versus current expenditure, revenue and debts, thus minimizing borrowing costs and improving fiscal forecasting. The solution will enable application of common controls and standards across spending agencies for recording, processing and releasing of payments to suppliers, employees, and other payees. To facilitate implementation of the project, Innove joined hands with FreeBalance, a Canadian provider of software solutions for public financial management. The overall solution is designed as a highly flexible service oriented architecture system, scalable, and low-risk option for the government.

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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