Financial Management (FM) Systems Modernization starts with the FM Business Use Cases

On February 13th and 14th, the U.S. Chief Financial Officers Council (CFOC) held Financial System Market Research Days aimed at showcasing commercial vendors Software-as-a-Service (SaaS) solutions.   

The vendor demonstrations were based on the Financial Management (FM) standards developed by FIT.  Yes, these standards or Business Use Cases (as well call them in the biz), came to life digitally.

One Federal colleague noted how “real” the impact was as he watched once conceptual FM Use Cases turn into tangible functionality and workflow that will help standardize and modernize tomorrow’s FM systems.

Read more information about FIT’s Use Cases.

Read more about the Financial System Market Research Days.

Quick References

OMB 16-11, Improving Administrative Functions Through Shared Services

Circular No. A-123 Appendix D, Compliance with the Federal Financial Management Improvement Act of l996

OMB M 13-08, Improving Financial Systems Through Shared Services

OMB M 10-26, Immediate Review of Financial Systems IT Projects

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