Financial Management Capability Framework
The Financial Management Capability Framework (FMCF) is the standards and capabilities that define baseline needs for solutions and services in the FM QSMO Marketplace Catalog, including cloud-based core financial systems (Core FS). By ensuring that baseline standards are incorporated into Marketplace solutions and services, we'll help agency leaders gain efficiencies as they plan modernizations, comply with federal policies, and support improved data accuracy and reporting.
The FMCF consists of nine (9) sections or components. It is based on federal financial management (FFM) standards and includes more capabilities defined by the FM QSMO that support and complement the standards.
The FMCF was developed in collaboration with federal agencies and industry stakeholders. The framework is used as a basis for evaluating and ensuring that Marketplace solutions and services meet baseline needs. FM QSMO's goal is to standardize and streamline what is common for agencies.
The Guide to the Financial Management Quality Service Management Office (FM QSMO) Marketplace provides an overview of how the FM QSMO operates and how providers apply FMCF standards and capabilities in the FM QSMO Marketplace.
The FM QSMO is responsible for maintaining the FMCF and will periodically update it to show changing policy or other requirements. To do this, we work closely with the Federal Financial Management standards-setting office at Treasury, federal agencies, the vendor community, and other stakeholders. The FMCF resources below contain links to each component.
FMCF Version 2.0 Components
|1. Federal Financial Management (FFM) Functions and Activities||This list of 11 functions and 54 activities defines the financial management functions performed by a federal agency.|
|2. FFM Business Use Cases||These agency “stories” document the key activities, inputs, outputs and other intersections to describe how the Federal government operates. They are organized into eleven end-to-end business processes that have a federal financial management impact.|
|3. FFM Business Capabilities (FFMSRs)||These outcome-based business needs are mapped to Federal government authoritative references, forms, inputs, outputs, and data standards.|
|4. FFM Business Data Elements||This reference includes the data fields required to support the inputs and outputs noted in the use cases and capabilities.|
|5. Core FS Pre-Built Business Reports||Core FS providers are expected to have these reports pre-built and in their Core FS solution offering. These reports were derived from the FFM Functions and Activities and FFM Business Use Cases.|
|6. Core FS Pre-Built Business Information Exchanges (BIEs)||Core FS solutions need to exchange data with other systems. These specifications are technology-agnostic, but Commercial Service Providers (CSPs) and Federal Shared Service Providers (FSSPs) may use them to design the Core FS Baseline offering's integrations, interfaces, or Web-service oriented architecture that enable the exchange of data.|
|7. FM Technology Design and Operation Capabilities||This document establishes expectations for FM solutions and services in the Marketplace. It includes the full list of Technology Design and Operation Capabilities and references to Federal cybersecurity and IT standards and specifications FM solutions and services must incorporate.|
|8. FM Solution/Service Evaluation Criteria||These criteria are used by the FM QSMO when evaluating potential offerings for the FM QSMO Marketplace and during Federal agency acquisition. The criteria include business, technology design, and technology operation criteria for evaluating FM solutions/services and programmatic, economic, and organizational criteria for evaluating the providers of FM solutions/services.|
|9. FM Provider Service Measures||This reference defines how the FM QSMO and Federal agencies measure successful delivery of outcomes. These measures evaluate FFM activities and CYB, ERM, and ITS activities that support the FFM activities.|
|Guide to the FM QSMO Marketplace||A guide that explains the scope of the Marketplace and how the FMCF will be used.|
|FMCF 101 Training for Agencies||Training material that gives agencies the information needed to locate, define and restate the purpose of each FMCF artifact and use the FMCF to benchmark and standardize their existing FM capabilities.|
|FMCF 101 Training for Vendors||Training material that gives vendors the information needed to locate, define and restate the purpose of each FMCF artifact and design FM Solutions/Services that conform to the FMCF.|
|FMCF Version 2.0 Release Notes||A summary of the updates and clarifications made to the FMCF components Version 2.0.|
|FMCF Version||Version Date||Archived Documents|
|1.1||June 24, 2022||FMCF Version 1.1 Archive|
|1.0||March 31, 2022||FMCF Version 1.0 Archive|