Treasury selects commercial vendor for financial shared services market
The Treasury Department has added its first commercial vendor to its financial management services marketplace. Khaichuin Sim/Getty Images
CGI Federal will join three of the Treasury Department's shared services providers to offer financial management system software through a central marketplace for federal agencies.
The Treasury Department has added an initial commercial vendor to its financial management services marketplace, tapping CGI Federal to provide shared services to multiple agencies’ core financial systems across the federal government.
In a Tuesday statement, the Fairfax-based federal subsidiary of CGI detailed its selection to the Financial Management Quality Service Management Office that was finalized earlier this month. CGI Federal becomes the first company to offer financial management services and solutions under the FM QSMO central marketplace model that includes the other Treasury-based service providers Administrative Resource Center, Interior Business Center and Enterprise Service Center.
“We thank the FM QSMO team for their positive evaluation and look forward to the opportunity to serve federal agencies wishing to modernize and improve their financial management capabilities,” CGI Federal president Stephanie Mango said in the company release.
It's not clear how much funding CGI's contract will entail, as it was awarded through GSA's Multiple Award Schedule, giving the company the ability to pursue future awards. A company spokesperson did say however that with all options exercised, the period of performance could run through 2036.
The Office of Management and Budget established the QSMOs in 2019 as a way to provide modernized information technology services and centralize some of the federal government’s largest scale functions.
QSMOs for financial management, grants management, human resources services and cybersecurity services are housed within the Treasury, Department of Health and Human Services, General Services Administration and Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency. Each QSMO acts as a central marketplace for agencies to procure back-office management services from.
A 2021 request for information detailing the QSMO indicates the Treasury will provide agencies with core financial management software suites, along with additional financial management services and solutions. The portfolio of Treasury Centralized Services could include capabilities like vendor electronic invoicing, federal funds payment/disbursement, federal government-wide accounting and financial reporting, federal funds investment and others.
The Treasury Department sought $3.7 million to set up the QSMO through its fiscal 2022 budget request.
In its release, CGI Federal executives said the company will offer software packages for “grant accounting services, core financial systems agency solution operations and maintenance support, strategic planning and investment business case development and financial management organizational change management.”
“We are proud to help clients across the federal enterprise benefit from flexible options when it comes to planning financial system modernizations, sustaining current operations and leveraging financial management expertise,” said Kenyon Wells; a senior vice president in CGI Federal’s Consulting, Applications, Solutions, and Technology practice.