Modernization Through ICT for Efficiency & Transparency: Equipment Revolving Fund

This paper examines the Equipment Revolving Fund in Thailand, a critical entity for maintaining and enhancing the nation's transportation infrastructure. While this organization undeniably ensures the quality of Thailand's transportation network, its effectiveness is hampered by manual processes and outdated information systems. These limitations can lead to operational inefficiencies, reduced transparency, and potential delays in crucial infrastructure projects. This study proposes a modernization initiative that leverages Information and Communication Technologies to improve the organization's operational efficiency significantly. We identify key challenges hindering the organization's effectiveness, including slow procurement procedures, limited data accessibility, and potential inefficiencies in construction material and equipment management. The paper proposes specific solutions to address these challenges including implementing cloud-based Enterprise Resource Planning. The successful implementation of these solutions is expected to expedite procurement processes, improve resource allocation for infrastructure projects, and enhance accountability within the Department of Highways. The paper acknowledges potential challenges associated with the modernization initiative, such as user adoption, data security, and system maintenance. However, it proposes thorough and effective mitigation strategies to ensure a successful implementation. The proposed solutions, while tailored to this organization, offer valuable insights for modernizing revolving fund management practices in other government agencies, particularly those collaborating with external entities like the Consolidated Financial Statement Program, Non-Budgetary Management System, Revolving Fund Evaluation System, and KrungThai Bank Corporate Online.