When the United States Office of Personnel Management (OPM) sought to modernize its financial management system as part of a wider effort to consolidate its business information systems, it turned to Accenture for assistance.
As lead systems integrator, Accenture oversaw the implementation of the new system, helping improve OPM’s overall program performance and enabling relevant, reliable, and timely financial information to be shared across the agency while complying with federal financial system standards and requirements.
The United States Office of Personnel Management (OPM) is an independent agency of the United States government responsible for managing the Federal civil service.
In order to standardize and streamline financial processes and improve access to accurate and timely financial information, OPM sought to replace its core financial and procurement systems with a single, integrated solution in the form of a Consolidated Business Information System (CBIS).
While OPM's core financial management operations are similar to those of other Federal agencies and organizations, they differ in two important respects: first, the Office manages almost US$1 billion in reimbursable agreement service for other Federal bodies; second, it manages the trust funds that support the Federal government's retirement, health benefit and life insurance programs, with assets totaling US$923 billion as of fiscal 2011.
With such significant amounts at stake, OPM sought a number of key business objectives, including:
Gaining access to accurate, reliable, and timely financial information to support management decision making
Improving accessibility to financial information
Harmonizing financial processes across the business and aligning them to overall standards
Streamlining financial and business management processes to help reduce administrative costs
A clean audit, internally and externally
In August, 2008, OPM teamed with Accenture to begin its 10-year financial modernization efforts by creating the Consolidated Business Information System (CBIS).
This new Oracle-based system included Oracle E-Business Suite R12, Oracle Business Intelligence Enterprise Edition (OBIEE), Hyperion, and CompuSearch PRISM components to provide complete procure-to-pay, plan-to-report, and order-to-cash business capabilities in a Federal environment, augmented by robust business intelligence reporting, and Federal budgeting functionality.
As a result of its collaboration with Accenture, OPM now enjoys a number of benefits, both quantitative and qualitative. These include:
Better and more compliant reporting with Office of Management and Budget process standards.
Improved performance across a range of functional areas, including General Ledger, Accounts Payable, Accounts Receivable, Purchasing, Procurement, Project Billing and Costing, Assets, Cash Management, Budgeting, and US Federal-specific reporting.
As lead systems integrator, Accenture continues to work closely with OPM to design, build, and test the new system, as well as hosting, managing, and supporting it in the production environment. Accenture is also responsible for managing the deployment of new releases and functionality.