Labor looks for hosted financial system
- By Michael Hardy
- Jun 12, 2012
The Labor Department is interested in a hosted core financial management system environment, according to a request for information posted June 12 on FedBizOpps.
The department replaced its legacy financial management system, called "DOLAR$," for Department of Labor Accounting and Related Systems, with the New Core Financial Management System (NCFMS) in fiscal year 2010, according to Labor documents.
“NCFMS is one of the first examples of a federal, cloud-based financial system and is supported as a software-as-a-service instance by a private shared service provider,” the RFI reads. “Through NCFMS, DOL is modernizing its financial management capabilities and supporting DOL's mission to uphold strong financial management principles and accountability, provide timely, accurate and reliable financial information, and enhance internal controls.”
Labor doesn’t want to host the system, and the RFI is a sources-sought notice to help the agency understand what options exist for a hosted solution. The system has 2,300 primary users and serves more than 17,000 employees across 11 department agencies, including the Inspector General, according to the RFI.
The system processes an estimated 380,000 invoices; 300,000 payments; 63,400 travel documents; 61,900 obligation documents; and 13,800 requisition documents annually.
Michael Hardy is the online managing editor of FCW. Connect with him on Twitter: @MichaelHardyNet.