AccentureAwarded Financial Modernization Contract From U.S. National Science Foundation
ARLINGTON, Va.--(BUSINESS WIRE)-- The U.S. National Science Foundation (NSF) has awarded Accenture Federal Services a five-year, $24.4 million contract to help modernize the organization's financial system. The project will upgrade the agency's 25 year-old financial accounting system to one that is fully integrated, based on commercial-off-the-shelf software and hosted in a shared service environment.
Accenture will work with NSF to modernize current operations by transitioning the agency to a cloud-based financial system, Accenture's Federal Financials as a Service offering and its financial systems shared service center. Accenture will help to increase the agency's efficiency and effectiveness, and optimize business processes across all departments.
"Today, the way federal agencies process and manage their financial information can have a significant impact on their ability to deliver on their mission. By improving NSF's efficiency and effectiveness, Accenture will be helping the agency deliver on its mission of promoting scientific research nationwide," said Ed Meehan, who leads Accenture's work with civilian agencies.
NSF is an independent federal agency created by Congress in 1950 to help advance the country's progress in science, health and national defense. The agency is the main source of funding for about 20 percent of all federally supported research conducted by the nation's colleges and universities.
Last year, NSF managed and dispersed $5.72 billion for research and related activities. In fields that include mathematics, computer science and the social sciences, the agency often is the major source of federal financial backing. About 10,000 new awards are presented annually, with an average duration of three years. These awards fund specific research proposals for individuals and small groups of investigators. In the past few decades, NSF-funded researchers have won more than 180 Nobel Prizes.
Accenture Federal Services is a wholly owned subsidiary of Accenture LLP, a U.S. company, with offices in Arlington, VA.
Accenture is a global management consulting, technology services and outsourcing company, with 259,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world's most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US $27.9 billion for the fiscal year ended Aug. 31, 2012. Its home page is www.accenture.com.
Joanne Veto, 703-947-2590
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