CGI Federal Completes Largest Federal Financial System Implementation for Department of Veterans Affairs

CGI Inc. has completed waves 7 and 8 of the U.S. Department of Veterans Affairs' Integrated Financial and Acquisition Management System (iFAMS) deployment, processing over 11 million transactions and facilitating $18 billion in Treasury disbursements. iFAMS replaces five existing VA systems, streamlining financial and acquisition processes, and is one of only two solutions approved for the U.S. Treasury's Financial Management Quality Service Management Office (FM QSMO) marketplace. The system will reduce VA's total cost of ownership, enhance cyber security, and improve system performance.

CGI Inc. (GIB) has successfully completed waves 7 and 8 of the U.S. Department of Veterans Affairs' Integrated Financial and Acquisition Management System (iFAMS) deployment. This milestone marks a significant advancement in the VA's modernization efforts, with the system now processing over 11 million transactions and facilitating $18 billion in Treasury disbursements [1].

The iFAMS deployment replaces five existing VA systems, streamlining financial and acquisition processes across various technology platforms. Built on CGI's Momentum® Enterprise Suite, iFAMS is a modern solution that standardizes, automates, and transforms VA's financial and acquisition processes. When fully implemented, iFAMS will enhance service delivery, efficiency, transparency, audit readiness, and operational alignment across VA [1].

CGI Inc. serves as both the solution provider and implementation partner to VA. The system is designed to reduce VA's total cost of ownership, enhance cybersecurity, and improve system performance. iFAMS is one of only two solutions approved for the U.S. Treasury's Financial Management Quality Service Management Office (FM QSMO) marketplace [1].

CGI's Momentum solution is the first core financial management system to receive approval from the FM QSMO. The system leverages proven commercial practices and technologies, positioning CGI as a leader in federal agency solutions. The company's extensive user community across all three branches of the government has contributed to the continuous improvement of the Momentum Enterprise Suite [1].

In parallel with the iFAMS deployment, VA is able to take advantage of new capabilities and help drive the roadmap and design of those capabilities as part of the supported COTS solution. CGI's investment in the Momentum Enterprise Suite incorporates features recommended by the extensive user community, ensuring the solution remains relevant and effective [1].

The successful deployment of iFAMS highlights CGI Inc.'s commitment to modernizing government through innovative technology solutions. The company's global proximity model combines global tech capabilities with local expertise, enabling it to scale solutions like iFAMS across various sectors and regions [2].

References:

[1] https://finance.yahoo.com/news/u-department-veterans-affairs-advances-105800463.html

[2] https://www.ainvest.com/news/cgi-gib-retail-revolution-high-margin-play-europe-digital-transformation-2508/