Commonwealth Meridian
Meridian is the new Debt Recording and Management System (DRMS) designed by the Commonwealth Secretariat which is due for release in early 2019. The software will eventually replace CS-DRMS in a few years. Meridian is vastly superior to CS-DRMS both from functional and technological viewpoints.
- The software has advanced and improved functions and features including:
- Public and publicly guaranteed debt, lending portfolios as well as private sector external debt can be recorded, managed and analysed;
- The ability to model any workflow arrangement/institutional structure for debt management;
- Flexibility in adding and maintaining a wide range of financing products including any future financing products through the use of instrument templates;
- Organised around a central repository of data from which key stakeholders can access information. This ensures that real time data is always available even to remote offices;
- Driven by alerts and notifications, integrated with mail exchange systems to support the business workflow process;
- SWIFT payments as an optional payment mechanism and caters for messages in the SWIFT format;
- Accountability and transparency through data driven work flow; and
- Integrating with external systems to provide straight through processing and accurate data to stakeholders.
With respect to technology, Meridian is web-based which means that installations and giving access to it will be much easier than it was on CS-DRMS. Meridian will be made available to all countries from early 2019 and will cater for both SQL and Oracle sites. A migration tool will be provided to assist countries to move seamlessly from CS-DRMS to Meridian. Support for CS-DRMS will continue for a limited number of years after Meridian has been fully released.
