BearingPoint, Inc. and Oracle have announced that the Centers for Disease Control and Prevention (CDC) and the Food and Drug Administration (FDA) have begun to fully utilize the Unified Financial Management System (UFMS) for all of their financial transactions.
The two agencies, which fall under the U.S. Department of Health and Human Services (HHS), selected BearingPoint as the systems integrator and business transformation agent for UFMS in November 2001. HHS, which manages the largest budget in the U.S. Federal government, initiated the program to improve fiscal management and accountability agency wide.
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be the largest civilian financial management system implementation in the world, UFMS will replace five redundant and outdated accounting systems in use at the National Institutes of Health (NIH), the FDA, the CDC, the Centers for Medicare and Medicaid Services (CMS), and the Program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), which provides accounting and reporting services for the remaining seven HHS operating components. The remaining HHS operating components are expected to complete implementation by FY 2007.