Contractors to compete for financial management work.
Federal agencies will be required to allow contractors to compete for the operation of financial management systems.
The Bush administration has told agencies they must turn over some financial management functions either to contractors or to one of several "shared service centers," specialized government financial offices serving multiple agencies. The purpose is to avoid duplication of financial systems and improve efficiency.
For offices with more than 10 employees, the Office of Management and Budget The Office of Management and Budget (OMB), formerly the Bureau of the Budget, is an agency of the federal government that evaluates, formulates, and coordinates management procedures and program objectives within and among departments and agencies of the Executive Branch. said the competitions will be conducted under OMB OMB
Office of Management and Budget
Noun 1. OMB - the executive agency that advises the President on the federal budget
Office of Management and Budget Circular A-76. For those with 10 or fewer employees, agencies are permitted to issue a solicitation under the Federal Acquisition Regulation.
In a May 22 memorandum, OMB said, "At a minimum, agencies must consider pursuing hosting and application management shared services shared services,
n.pl the administrative, clinical, or other service functions that are common to two or more hospitals or their health care facilities and used jointly or cooperatively by them. . However, agencies may also consider other shared services, such as accounting or transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time.
Transaction processing systems are the backbone of an organization because they update constantly. ." (Emphasis in the original.)
The memo added, "The routine use of competition ... will help agencies to maximize value by considering alternative solutions in a reasoned and structured manner to select the best available public or private provider of financial management."
OMB said agencies should move forward on converting their financial systems "in the earliest possible timeframes."
GSA's Financial Systems Integration Office, the co-leader of the Financial Management Line of Business initiative, has issued draft guidance and invited comments. The guidance is available at www.fsio.gov.
So far OMB has designated four government offices as shared service centers that are eligible provide financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page. to other agencies: Interior's National Business Center; the Bureau of Public Debt's Administrative Resource Administrative resource is the ability of political candidates (and parties) to use their official positions or connections to government institutions to influence the outcome of elections. Center; GSA's External Services Division; and the Transportation Department's Enterprise Service Center.