IBM Wins $31 Million Deal for Financial Management System

IBM Wins $31 Million Deal for Financial Management System<@VM>IBM Wins $31 Million Deal for Financial Management System

By Jennifer Freer, Staff Writer


OCT. 16 ? IBM Corp. of Armonk, N.Y., won a $31 million contract to design and build a financial management system for the Energy Department.


As part of the department's effort to transition to e-government, the new system will enable it to integrate all aspects of financial management, including budgeting, finance and accounting, procurement, human resources and asset management.


"This initiative reflects the need to expand our flexibility in DoE's financial management practices by leveraging the newer Internet-based technology," said Michael Fraser, Energy Department program manager.


The current financial systems have been in place for nearly 20 years, Fraser said. They have worked well, but in the information age, the Energy Department must be able to respond rapidly to new demands for financial information from both internal and external customers, he said.


"Helping the DoE move into the future with a fast, flexible, best-of-breed financial system engineered for e-business is the kind of project that works to everyone's benefit," said Anne Altman, IBM vice president of federal government.


IBM Global Services is supported in this initiative by Science Applications International Corp., Oracle Corp., Arthur Andersen, TRESP Associates and Business Commerce Solutions Inc.

By Jennifer Freer, Staff Writer


OCT. 16 ? IBM Corp. of Armonk, N.Y., won a $31 million contract to design and build a financial management system for the Energy Department.


As part of the department's effort to transition to e-government, the new system will enable it to integrate all aspects of financial management, including budgeting, finance and accounting, procurement, human resources and asset management.


"This initiative reflects the need to expand our flexibility in DoE's financial management practices by leveraging the newer Internet-based technology," said Michael Fraser, Energy Department program manager.


The current financial systems have been in place for nearly 20 years, Fraser said. They have worked well, but in the information age, the Energy Department must be able to respond rapidly to new demands for financial information from both internal and external customers, he said.


"Helping the DoE move into the future with a fast, flexible, best-of-breed financial system engineered for e-business is the kind of project that works to everyone's benefit," said Anne Altman, IBM vice president of federal government.


IBM Global Services is supported in this initiative by Science Applications International Corp., Oracle Corp., Arthur Andersen, TRESP Associates and Business Commerce Solutions Inc.

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