Interior Awards Financial Management System Contract

(WASHINGTON) - The Department of the Interior has selected BearingPoint, Inc. of McLean, Virginia, as the solution provider for its Financial and Business Management System (FBMS). The firm was chosen through a competitive acquisition process. The award has a term of up to ten years.

Interior's FBMS is a major enterprise management initiative that will integrate financial management, acquisition, property management, grants administration, and other subsidiary systems and will revamp administrative processes throughout the Department.

This solution will provide complete, accurate, and timely information that will enable Interior's employees and managers to make informed decisions about their programs at all levels of the Department. Interior has about 70,000 employees at 2,400 locations around the nation.

"Implementation of the FBMS is a key to the Department's modernization of its financial and business management processes and operations," said Lynn Scarlett, Assistant Secretary for Policy, Management and Budget. "I am delighted that we can now begin this important work to move toward our future."

The improvements will enable the integrated system to provide more economic and efficient input and retrieval of data, ensuring unqualified audit opinions and the best use of taxpayer money to promote proactive management of these funds.

Since its inception, FBMS has been a collaborative undertaking among all the bureaus in the Department. The project is designed to support federal financial management standards and establish common business practices throughout Interior.

FBMS will streamline linkages between critical financial management systems necessary to assure financial accountability in the Department. It will enable the Department to have a single financial system, rather than the 16 systems Interior currently operates. For these reasons, Interior managers gave FBMS the highest priority for new information technology systems.

BearingPoint, Inc. is one of the world's largest business consulting, systems integration, and managed services firms serving Global 2000 companies, medium-sized businesses, government agencies, and other organizations.

Its service offerings are designed to help clients generate revenue, reduce costs, and access the information necessary to operate their business on a timely basis. BearingPoint has been named by Fortune Magazine as one of America's Most Admired Companies in the computer and data services sector.