Financial Systems and Information Technology
Financial systems and information technology are the foundation for all financial management activities in the federal government. Federal agencies process an enormous number of transactions on an annual basis and require complex financial management enterprise resource planning (ERP) and systems to track, transact, protect, and report the agency’s financial position and status of budgetary resources.
Empirical’s team of financial and accounting professionals have extensive experience and direct hands-on knowledge of financial management ERPs and operating requirements that govern their configuration. Empirical provides the following financial systems and information technology services:
- Provide accounting and reporting support services using several complex financial ERPs and systems, including Oracle R12, Federal Financial Management System (FFMS), and others
- Support system modernization and upgrade efforts to transition from legacy systems, including identifying requirements from stakeholders, completing requirements documentation, performing gap analysis and data validation, conducting testing, and training teams to leverage powerful financial ERP systems
- Conduct FISCAM & FISMA reviews
- Information technology project and program management support
A Department of Homeland Security Organization, Office of Chief Financial Officer (OCFO) – Supporting the Prime Contractor to Modernize the Financial ERP System
Overview: The OCFO needed accurate financial reports to support a clean audit opinion. They needed support from a team with the right financial knowledge and technical expertise to cleanse and restructure their data across many silos.
Results: Through effective data validation and restructuring efforts, correcting general ledger transactions, and creating new posting logic in their financial system, Empirical was able to help the prime contractor produce accurate data and compliant reporting. As a result, the agency achieved a clean audit opinion.