U.S. Navy Awards Accenture Indefinite Delivery/Indefinite Quantity Contract for Department-wide Financial Management Improvement Services
WASHINGTON; June 3, 2010 – The U.S. Department of the Navy awarded Accenture (NYSE: ACN) an indefinite delivery/indefinite quantity (IDIQ) contract to provide financial management services to support the Navy’s Office of Financial Operations in its implementation of the department’s Financial Improvement Program (FIP).
The IDIQ contract includes a one-year base ordering period and four one-year options. If all options are exercised, the total potential value to Accenture is $181,867,958.
The FIP’s objectives are to improve the accuracy, timeliness, and reliability of financial information for decision-making and to increase confidence in the Navy’s financial management capabilities.
“The FIP is vitally important to strengthening financial processes and systems, resulting in improved financial data quality. This is a critical initiative that aids senior Navy leaders in making better-informed decisions,” said Lisa M. Mascolo, managing director of Accenture U.S. Federal client service group.
In addition, Accenture will provide audit readiness support, including internal control documentation and training to help the Navy be prepared for future audits. Financial system improvements, including efforts to enhance data integrity and system interfaces, also are part of Accenture’s scope.
Finally, Accenture will assist the Navy in implementing solutions to identify deficiencies, including system improvements, process reengineering and implementation of guiding U.S. Department of Defense business practices. Resulting corrective actions will be considered within the scope of the contract as long as they are associated with financial improvement.
About Accenture Defense
Accenture Defense delivers strategy, operations, IT and mission services that enable defense, intelligence and federal organizations to achieve high performance and support the warfighter at speed. With the help of Accenture’s capabilities, worldwide presence and experience, clients meet mission goals, mitigate risk and realize cost savings. Visit www.accenture.com/defense.
Accenture is a global management consulting, technology services and outsourcing company, with more than 181,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$21.58 billion for the fiscal year ended Aug. 31, 2009. Its home page is www.accenture.com.
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