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CSC Announces Business Systems Modernization Program for the IRS

Originally published November 17, 2005

Computer Sciences Corp. recently announced a significant milestone achieved on the Business Systems Modernization (BSM) program for the Internal Revenue Service (IRS).  The Government Accountability Office granted the IRS an unqualified or "clean" audit opinion one year after initial implementation and launch of a modernized financial management system—the Integrated Financial System (IFS). The CSC-led PRIME Alliance was the lead systems integrator on the project, providing leadership, business transformation and systems integration services to support the roll-out of SAP's Federal Financial Management solution.

The IFS, a major project under BSM, fully supported IRS administrative financial operations throughout fiscal year 2005. The system is a powerful tool for budgeting, planning, tracking and reporting, providing timely, accurate and relevant financial information. The agency has already realized business value from the IFS during fiscal year 2005 in terms of improved compliance with federal standards and directives, more timely financial data, and enhanced management and administrative reporting.

"The IRS's receipt of an unqualified audit opinion is a testimony to the quality of this implementation and a tribute to the experience and hard work of the combined CSC-SAP-IRS team," said Jim Sheaffer, CSC Vice President and General Manager of the PRIME Alliance. "For the past year our focus has been on achieving this goal, and we are collectively delighted to see it realized in this result."

The IFS, which annually accounts for $10 billion in IRS operational funds, replaced the IRS's core financial systems, including expenditure controls, accounts payable, accounts receivable, general ledger and budget formulation. The system includes a managerial cost accounting capability that will enable the IRS to make informed and timely performance-based business and budgetary decisions. 

This BeyeNETWORK news item contains information from a recent press release by the company mentioned.