Interior tabs BearingPoint for finance systems

Interior Department

Interior Department officials selected BearingPoint Inc. to provide a financial management system in a contract worth an estimated $124.9 million.

BearingPoint will have up to 10 years to develop Interior's financial and business management system (FBMS). According to Interior officials, back office systems are the highest priority among new information technology programs.

"Implementation of the FBMS is a key to the department's modernization of its financial and business management processes and operations," said Lynn Scarlett, Interior's assistant secretary for policy, management and budget.

BearingPoint's job will cover financial management intergration, acquisition, property management and grant administration programs for Interior, which has 16 systems to be merged into a single structure.

The new system will enable more accurate and timely decisions while assuring financial accountability for the department's 70,000 employees, officials said.

Interior officials report that developmental meetings have already begun with BearingPoint and that the new project is moving forward after years of planning and passing the funding approval process.

"I am delighted that we can now begin this important work to move toward our future," Scarlett said.