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CDC, FDA Launch Oracle Financial System For HHS
Divisions of Health and Human Services goes with Oracle Federal Financials for all of their financial transactions.
Implemented with the help of the BearingPoint consulting firm, the HHS has begun to utilize the Unified Financial Management System (UFMS) for all of its agencies.
Oracle closed yesterday at $12.66 per share, while BearingPoint closed at $6.55.
HHS manages the largest budget in the federal government, and has been working with BearingPoint since late 2001.
In what is expected to be the largest civilian financial management system implementation in the world, UFMS will replace five redundant and outdated accounting systems in use at the National Institutes of Health (NIH), the FDA, the CDC, the Centers for Medicare and Medicaid Services (CMS), and the Program Support Center (PSC), according to a press release.
The UFMS program uses Oracle Federal Financials, a federally certified commercial off-the-shelf software package and part of Oracle E-Business Suite, used by a number of other federal agencies.
A successful deployment of UFMS could mean future government business for the two firms. Improvements in the government's financial management systems have been mandated by President Bush's Management Agenda.
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David Utter
