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Wednesday, November 01, 2006

HHS Achieves Major Step Forward in Modernizing Its Financial System

HHS announced today that it has taken a major step forward in modernizing and streamlining its financial management system by implementing the Unified Financial Management System (UFMS) at its headquarters and seven of its ten agencies.

"UFMS is a multi-dimensional system that will provide decision makers and others with reliable and timely financial information to support the business operations at all levels throughout HHS," said Kerry Weems, HHS Deputy Chief of Staff and UFMS executive sponsor. "This effort is one of the largest financial system implementations in the federal sector. It is a significant accomplishment that will contribute greatly to our mission."

UFMS has been operational in the Centers for Disease Control and in the Food and Drug Administration since April 2005. This month's "go-live" brings seven other HHS agencies under the UFMS umbrella, including: the Office of the Secretary, Health Resources and Services Administration, Substance Abuse and Mental Health Services Administration, Agency for Healthcare Research and Quality, Administration for Children and Families, Administration on Aging, and Program Support Center.

The UFMS is built using a federally-certified commercial off-the-shelf software package called Oracle Federal Financials, a part of Oracle E-Business Suite, which is used by a number of other federal agencies. Using a commercially available off-the-shelf product carries the advantages of building in commonly accepted financial industry standards and reducing the costs and risks of building an entirely new customized system.

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