CGI Federal's Momentum® Acquisitions contract writing system goes live at the U.S. Department of Veteran Affairs

Rhea-AI Summary

CGI (NYSE: GIB) has successfully implemented its cloud-based Momentum® Acquisitions contract-writing system at the U.S. Department of Veterans Affairs (VA), marking a significant step in the VA's Financial Management Business Transformation (FMBT). This integration allows for the first-time unification of financial and acquisition systems within the Integrated Financial and Acquisition Management System (iFAMS). The transformation aims to enhance transparency and operational scalability while improving service delivery to veterans. Future rollouts are planned for October 2022 to support 5,000 contracting professionals.

Positive

• Successful implementation of Momentum® Acquisitions enhances operational efficiency.
• Integration of financial and acquisition systems improves transparency and accountability.
• Plans for future rollouts will expand the system to 5,000 contracting professionals.

Negative

• None.

Stock Market Symbols
GIB (NYSE)
GIB.A (TSX)
www.cgi.com/newsroom

The new system standardizes contract writing enterprise-wide

FAIRFAX, Va., June 7, 2022 /PRNewswire/ - CGI (NYSE: GIB) (TSX: GIB.A) announced the successful implementation of the cloud-based CGI Federal's Momentum® Acquisitions contract-writing system at the U.S. Department of Veterans Affairs (VA). This third implementation of the VA's Financial Management Business Transformation (FMBT) program at the National Cemetery Administration also marks a major milestone in the modernization of VA's business systems. For the first time, financial and acquisition functionality are fully integrated into the Integrated Financial and Acquisition Management System (iFAMS).

This important achievement was accomplished through a joint effort of the VA's FMBT program office; the Office of Information Technology; the Office of Acquisitions, Logistics, and Construction; a dedicated working group of agency contracting professionals; and CGI Federal, the lead systems integrator for the FMBT program.  The vision of the FMBT program is to provide the VA with a modern financial and acquisition management solution with transformative business processes and capabilities that enable the VA to meet its goals and objectives in compliance with management legislation and directives. The transformation effort will increase the transparency, accuracy, timeliness, and reliability of financial and acquisition information, resulting in improved fiscal accountability to taxpayers and offering a significant opportunity to improve services to those who serve our Veterans. iFAMS also improves operational scalability and strengthens security which enables the VA to quickly respond to changing priorities.

"CGI Federal is pleased to partner with the FMBT program and with VA contracting professionals to develop a standard contract writing approach for the VA enterprise," said Alisa Bearfield, Senior Vice President at CGI Federal. "Along this journey, the team gained valuable insights for future enhancements to the Momentum^® Acquisitions solution to better serve the acquisition professionals who serve our veterans."

The implementation of CGI Federal's Momentum^® Acquisitions system for the VA's National Cemetery Administration is the first step in the transformation and automation of the contract writing lifecycle. The VA's vision is to complete this transformation for 5,000 contracting professionals across Administrations and to have the acquisitions users join financial management users in a single, consolidated system. The next iFAMS wave is scheduled to go live in October 2022 and includes most Headquarter Staff Offices. FMBT will then continue its incremental rollout of iFAMS to the remaining VA Administrations and Staff Offices.

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 and intelligence missions. Founded in 1976, CGI is among the largest IT and business consulting services firms in the world. With 84,000 consultants and other 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. With Fiscal 2021 reported revenue of C$12.13 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com.

View original content:https://www.prnewswire.com/news-releases/cgi-federals-momentum-acquisitions-contract-writing-system-goes-live-at-the-us-department-of-veteran-affairs-301562580.html

SOURCE CGI Inc.

FAQ

What is the Momentum® Acquisitions contract-writing system?

The Momentum® Acquisitions system is a cloud-based contract-writing platform implemented by CGI to streamline acquisition processes at the U.S. Department of Veterans Affairs.

How does the implementation of the Momentum® Acquisitions system impact the VA?

The implementation enhances the integration of financial and acquisition management, leading to improved efficiency and transparency in fiscal accountability.

What are the future plans for the iFAMS system?

The next rollout of the iFAMS system is scheduled for October 2022, aiming to expand its use among remaining VA administrations and staff offices.

What is the significance of this system for veterans?

The system aims to improve services for veterans by providing more accurate and timely financial and acquisition information.

When was the Momentum® Acquisitions system implemented at the VA?

The system was successfully implemented on June 7, 2022.