Pension insurer seeks financial software help

The Pension Benefit Guaranty Corp. seeks proposals for development of an integrated financial and accounting system. PBGC, which insures workers’ pensions, wants to reduce costs and delays involved with aging systems and outdated business processes, and provide an online transaction-based system.

The current core accounting system relies heavily on manual processes to capture and maintain much of the agency’s data, the federally owned corporation said in its posting earlier this month on FedBizOpps.

PBGC’s goal is to replace the current three core financial systems, which provide financial reporting and such government and commercial accounting tasks as reconciling debits and credits.

The planned system will use Oracle Federal Financials 11i or higher, including the general ledger, accounts payable and accounts receivable components.

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