CGI Federal's Momentum first Core Financial Management solution to pass the U.S. Treasury Department's Financial Management Shared Services Marketplace evaluation

Rhea-AI Summary

CGI Inc. (NYSE: GIB) (TSX: GIB.A) announced that its Momentum® software is the first commercial core financial system approved by the U.S. Department of Treasury's Financial Management Quality Service Management Office (FM QSMO). The solution is now available to federal agencies on the U.S. General Services Administration (GSA) Multiple Award Schedule (MAS) under Special Item Number (SIN) 518210FM for FM QSMO Core Financial Management (FM) Solutions and IT Professional Services. CGI Federal's Momentum solution provides robust capabilities, ensuring compliance, streamlining financial management and acquisition processes, and leveraging analytics and data for critical insights.

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• CGI Federal's Momentum solution is the first commercial core financial system approved by the U.S. Department of Treasury's FM QSMO, positioning the company as a leader in providing comprehensive financial management solutions and services for federal customers. The solution's availability in the FM QSMO Marketplace and GSA MAS expands its reach and potential impact on government agencies planning modernizations in the coming years.

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FAIRFAX, Va., July 27, 2023 /PRNewswire/ -- CGI Federal Inc., the wholly-owned U.S. operating subsidiary of CGI Inc. (NYSE: GIB) (TSX: GIB.A), announced today that its Momentum^® software is the first commercial core financial system approved by the U.S. Department of Treasury's Financial Management Quality Service Management Office (FM QSMO). CGI Federal's Momentum solution, purpose-built to meet federal requirements, is now included in the FM QSMO Marketplace and available to federal agencies on the U.S. General Services Administration (GSA) Multiple Award Schedule (MAS) under Special Item Number (SIN) 518210FM for FM QSMO Core Financial Management (FM) Solutions and IT Professional Services.

"CGI Federal is proud to support the FM QSMO's goal for a dynamic shared services marketplace," stated CGI Federal President, Stephanie Mango. "Built on decades of experience in federal financial management, CGI Federal is thrilled to be the first commercial vendor to offer a comprehensive set of financial management solutions and services for federal customers in the FM QSMO Marketplace."

The FM QSMO Marketplace is a centralized broker of commercial and federal solutions and services to advance financial management operations and performance across government agencies. CGI Federal's Momentum solution provides robust capabilities, ensuring compliance, streamlining financial management and acquisition processes, and leveraging analytics and data for critical insights.

"Adding Momentum as a core financial system offering is a significant step in the continued expansion of the FM QSMO Marketplace," said Tim Gribben, Commissioner of Treasury's Bureau of the Fiscal Service. "Availability of modern cloud and standards based core financial systems in the Marketplace will directly support agencies that are planning modernizations over the next few years. We appreciate CGI Federal's support of the FM QSMO goals and continued commitment to the federal market."

In use at more than 100 federal government organizations across all three branches of government, CGI Federal's Momentum solution is a production-proven system, purpose-built for the federal government. As a trusted solution that balances standardization with agencies' needs for flexibility, Momentum is designed to meet federal mandates with speed and agility. It meets the requirements of the Treasury's Financial Management Capability Framework (FMCF), including functionality defined by the Federal Integrated Framework (FIBF) for Financial Management.

"The Treasury Department's innovative marketplace is bringing compliant solutions to unique customer needs across the federal enterprise," says Kerry Canfield, Vice-President of Consulting at CGI Federal. "CGI Federal is proud to drive the future of government business with transparent, accountable and proven solutions."

About CGI Federal

CGI Federal Inc., a wholly-owned U.S. operating subsidiary of CGI Inc., is dedicated to partnering with federal agencies to provide solutions for defense, civilian, healthcare, justice, intelligence, and international affairs missions. Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 91,500 consultants and professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. CGI Fiscal 2022 reported revenue is $12.87 billion and CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com.

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SOURCE CGI Federal, Inc.

FAQ

What is the significance of CGI Federal's Momentum® software being approved by the U.S. Department of Treasury's FM QSMO?

The approval positions CGI Federal as a leader in providing financial management solutions and services for federal customers, expanding its reach and potential impact on government agencies.

How does the approval benefit federal agencies?

Federal agencies now have access to a commercial core financial system that provides robust capabilities, ensures compliance, streamlines financial management and acquisition processes, and leverages analytics and data for critical insights.

What is the FM QSMO Marketplace and its role in advancing financial management operations across government agencies?

The FM QSMO Marketplace is a centralized broker of commercial and federal solutions and services aimed at advancing financial management operations and performance across government agencies.

What are the key features of CGI Federal's Momentum solution?

The solution is purpose-built to meet federal requirements, provides robust capabilities, ensures compliance, streamlines financial management and acquisition processes, and leverages analytics and data for critical insights.