Almost $2 billion in FM LoB opportunities exist across the Civilian and Defense Markets which target the short-term sustainment of legacy systems as well as the long-term consolidation of modernized financial solutions, according to new report recently released by INPUT, the authority on government business.
Reston, VA (Vocus/PRWeb) March 26, 2008 -- The Office of Management and Budget’s (OMB) Financial Management Line of Business (FM LoB) is shifting federal agencies to a Shared Service Center model and driving billions in financial management system spending. Almost $2 billion in FM LoB opportunities exist across the Civilian and Defense Markets which target the short-term sustainment of legacy systems as well as the long-term consolidation of modernized financial solutions, according to new report recently released by INPUT, the authority on government business.
“According to the FY 2009 OMB Exhibit 300s, $1.75 billion has been specifically requested to support the continued development of the FM LOB over the next two years,” stated Vajira Ranaviraja, federal analyst with INPUT. “These funding requests reinforce the federal government’s commitment to pursuing the goals of the FM LOB; cost savings for the Government through consolidation, and leveraging common solutions for financial management.”
INPUT’s report, Financial Management Line of Business: Market on the Move, measures departmental progress, highlights budgetary information and provides valuable business development opportunities and contacts.
The analysis provides vendors an understanding of the changing financial management market. Vendors can expect to see the current status of federal financial management solutions shift toward the shared service model. Market watchers should anticipate future business opportunities with Shared Service Providers to expand as federal agencies move beyond legacy sustainment.
The report suggests that, despite resistance at the federal agency’s senior leadership level, the financial management market is moving toward four Shared Service Centers (SSC) and commercial Shared Service Providers (SSP). Under the guidance of the OMB, the four SSCs are leading the development of this initiative and will be the impetus for future strategy. “Even though there is uncertainty at the Cabinet level, continued OMB commitment to the shared service center model will drive this transition,” said Ranaviraja. “As always, vendor relationships with SSCs will be important to future business opportunities.”
INPUT’s Financial Management Line of Business: Market on the Move industry report is available on INPUT’s website at http://FMLOB.input.com.
EDITOR’S NOTE: To speak with Vajira Ranaviraja, the report author, please contact Helena Brito at hbrito @ input.com or 703-707-4161.
About INPUT
INPUT is the authority on government business. Established in 1974, INPUT helps companies develop federal, state, and local government business and helps public sector organizations achieve their objectives. Over 1,300 member organizations, including small specialized companies, new entrants to the public sector, and the largest government contractors and agencies, rely on INPUT for the latest and most comprehensive procurement and market information, consulting, powerful sales management tools, and educational & networking events. For more information about INPUT, visit www.input.com or call 703-707-3500.
Proper use of name is INPUT
Media Contact:
Helena Brito
hbrito @ input.com
703-707-4161
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