- The Department of Veterans Affairs has awarded CACI a potential $308 million contract to perform operation and maintenance for its cloud-based Integrated Financial and Acquisition Management System
- The six-year contract is part of the agency’s plan to replace its legacy financial platforms
- CACI will also contribute to the continuous improvement of the VA’s Enterprise Resource Planning system
CACI has announced Wednesday that it secured a potential six-year, $308 million contract from the Department of Veterans Affairs to modernize and sustain the agency’s financial management environment through upgrades to its enterprise resource planning capabilities.
The company said the award is intended to improve operational efficiency while supporting the VA’s transition away from legacy financial systems.
John Mengucci, CACI president and CEO and seven-time winner of the Wash100 Award, said the company will apply its experience in federal financial modernization to help the VA improve transparency, strengthen audit readiness and enhance mission accountability. He added that CACI’s approach is intended to streamline financial operations while enabling the department to deliver more effective services through updated technology.
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What Are the Terms of the Contract?
Under the contract, CACI will provide operations and maintenance support for the VA’s Integrated Financial and Acquisition Management System, or iFAMS, while implementing modernization efforts designed to increase system agility, flexibility and productivity. The company will also help transform the department’s financial management infrastructure to better support mission operations and long-term technology objectives.
What Is iFAMS?
IFAMS is an enterprise platform that combines financial and acquisition functions into a single system designed to support the department’s financial management objectives and regulatory compliance. Hosted in the VA Enterprise Cloud on Microsoft Azure Government, iFAMS is intended to replace legacy financial systems while improving the accuracy, integrity and accessibility of financial data across the agency. The platform also interfaces with numerous internal and external systems to support core financial, procurement and reporting processes throughout the VA.
