Aquilent, the recognized leading provider of Web-based solutions shaping the next generation of technology for the federal government, recently congratulated the Department of Labor (DOL) for its progressive joint initiative between CIO and CFO offices, integrating procurement functionality with a new Oracle Federal Financials accounting system.
 
The new financial management Shared Service Provider (SSP) solution replaces the Department of Labor Accounting and Related Systems (DOLAR$) mainframe accounting system. Integrated with DOL’s E-Procurement System (EPS), the new financial system replaces outdated, batch operations with fully automated, real-time procurement life cycle functionality. It enables DOL to better assure financial controls, accuracy in budget commitments and reduction of improper payments - preventing potential budget issues, cost overruns and funding delays. It represents yet another key example of meeting President Obama’s call for increased transparency.
 
Aquilent led the effort to replace multiple DOL legacy procurement systems with EPS and integrated EPS with DOLAR$, as part of the initial EPS release in 2003. Aquilent has now integrated the EPS Requisition Module with NCFMS to enable real time commitment accounting.
 
“Aquilent applauds the Department of Labor’s move to help ensure that taxpayers’ dollars are accurately utilized and that related accounting measurements can be adequately tracked through a fully automated procurement lifecycle system,” stated David Fout, CEO of Aquilent. “With the Recovery Act playing such a pivotal role in the government’s move to improve its financial performance, the ability to transform the financial department with real-time decision making showcases DOL’s dedication to government leadership and innovation.” 

SOURCE: Aquilent Congratulates the Department of Labor for Implementing NCFMS