The Department of Interior’s Interior Business Center (IBC) announced the completion of multiple modernization projects for the Federal Retirement Thrift Investment Board’s (FRTIB) Financial Systems.
FRTIB’s Financial Systems Modernization Project included the modernization and standardization of three new systems for financial management, procurement, and travel systems: the Oracle Federal Financials system, a software-as-a-service (SaaS) called Prism, and a travel-management system.
“FRTIB has been an IBC customer since 2006. Throughout the years, they have utilized a number of services across IBC’s Financial Management and Human Resources lines of business,” IBC said in a statement. “With completion of the Financial Systems Modernization, the partnership between IBC and FRTIB continues to thrive and provide positive business results for FRTIB and the government at large.”
Completion of the modernization projects brings these three new systems online for FRTIB, while shuttering four legacy systems at the agency, and took around 15 months, according to reporting by Federal News Network.
“FRTIB will no longer have to serve as an integrator, own hardware, and maintain or extend custom-developed software in support of financial accounting operations,” IBC said.
Among the benefits the FRTIB will reap from the completion of the modernization project, the Prism SaaS will provide the agency will a streamlined procurement process from end-to-end. The travel management system, called E2, will also help streamline and manage travel for Federal officials.