Navy Turns to Accenture for Financial Management

June 7, 2010
Technology and management group lands $181 million deal to implement Financial Improvement Program.

The U.S. Navy has handed technology and management consultancy group Accenture a $181.8 million contract to assist the departments financial operations.

The indefinite-delivery, indefinite-quantity contract calls for Accenture to assist the Navys Office of Financial

Operations to implement the departments Financial Improvement Program (FIP). The Navy is reportedly looking to improve its timeliness, accuracy and reliability of financial information.

Accenture is also being asked to provide audit readiness support, including internal control documentation and training to help the Navy prepare for future audits.

In recent days, Accenture landed another high-profile contract, this time from the University of Michigan, where it will be asked to help support a comprehensive assessment of information technology at the unit and campus levels.

According to Accentures statement on the agreement with the Navy, much of its work will focus on financial system improvements, including efforts to enhance data integrity and system interfaces. It will also look to identify system deficiencies, support process re-engineering and implementation of Defense Department business practices.

The FIP is vitally important to strengthening financial processes and systems, resulting in improved financial data quality, said Lisa Mascolo, managing director of Accenture U.S. Federal client service group.

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