The Department of Housing and Urban Development awarded IBM a $193 million contract to overhaul its financial management system.
Under the 10-year contract, IBM will replace several legacy financial management systems with one using Peoplesoft software. HUD expects the new system to be implemented in two years.
A HUD spokeswoman confirmed the agency selected IBM Nov. 26.
According to the solicitation, the end result of the new system will be the production of fully auditable financial statements throughout HUD, and potentially the Federal Housing Administration, Ginnie Mae, and the Federal Housing Finance Agency.
For information: FedBizOpps.gov award notice