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Accenture Unveils World’s Biggest Financial System for U.S. Army
August 24, 2012
By Michael Foster, Big4.com Blogger
Accenture has delivered its largest financial planning system project ever, and it is fully functional, according to the Big4 firm.
The company secured a contract to develop its General Fund Enterprise Business System (GFEBS), and finished the project in July. The GFEBS was designed to help streamline the U.S. Army’s financial system, and will now process financial operations for 227 Army bases and offices in 71 countries.
The system is expected to lower costs while providing solutions on a massive scale. The system has 52,000 users and will process over 1 million transactions per day across the globe. The system, since it operates in almost every time zone, will need to remain operational at all times.
One of the focuses in designing the system was lowering costs, according to Accenture Defnese and Intelligence Agency Business Leader John Goodman. “Our defense clients are facing tremendous financial and budgetary pressures. GFEBS is helping the Army realize cost savings while increasing efficiencies,” Goodman said.
The program is designed to make business decisions easier to make for managers, who can oversee the cost, timing, and viability of a project with the system.
The system has a variety of functions, including processing payroll in America and foreign countries, enabling property management, and accounting for medical logistic operations.
Accenture also trained U.S. military personnel on the program in 4,000 training sessions for domestic and foreign-based officers.