Streamlining financial processes for optimized operations

Federal agencies are under increasing pressure to deliver on their core missions while managing budget constraints, regulatory compliance, and evolving technology landscapes. The adoption of managed services for back office financial management business processes is an effective strategy to address these challenges, resulting in strategic benefits that include:

  • Cost savings: CGI FM managed services deliver predictable costs and utilize streamlined processes and economies of scale to drive cost efficiencies.
  • Focus on core mission: By outsourcing non-core functions, agencies can reallocate internal resources to mission-critical activities, enhancing service delivery and mission outcomes.
  • Scalability and flexibility: CGI FM managed services offer the flexibility to rapidly scale FM services up or down based on changing needs, such as fluctuations in workload, budget constraints, and new initiatives.
  • Access to expertise and technology: CGI FM managed services provide agencies with access to specialized expertise and advanced automation and other technologies, frequently leading to improvements in efficiency and accuracy.
  • Risk mitigation: CGI FM managed services help mitigate risks associated with internal fraud, errors, and inefficiencies.

We offer the following managed services in the following functions below.

Budget execution
Budget analysis and reporting
  • Provide the funding calculations during a CR
  • SF-132 and other budget reporting support
  • Respond to budget research and data call requests
  • Perform budget analysis and projections, as requested
Payables management
  • Process obligations in the financial system
  • Process proper non-IPP invoices and payments in the financial system
  • Process IPP invoices and payments in the financial system
  • Process receipts (accruals) in the financial system
  • Calculate payment date based upon Prompt Pay rules
  • Calculate and apply interest and penalties for late payments
  • Cancel/void disbursements due to payment cancellations
  • Process corrections as requested
  • Calculate and apply discounts
  • Transmit payment files to Treasury
  • Record Treasury confirmation in financial system
Payables analysis and reporting
  • Perform analysis and provide data, as requested
  • Respond to agency and vendor payment inquiries
IPP management
  • Provide IPP user administration services
  • Process corrections and other updates in IPP as requested
  • Test new releases to IPP and related interfaces
  • Process IPP interfaces and troubleshoot issues and rejected transactions
Revenue management
  • Record revenue from non-federal sources
  • Record revenue adjustments, including accruals for earned but not yet billed revenue
Revenue analysis and reporting
  • Perform revenue reconciliations
  • Perform analysis and provide data, as requested
Receivables and collections management
  • Create and maintain debtor records in financial system
  • Record receivable amounts due from non-federal agency entities
  • Process receivable adjustments and write-offs
  • Record collections against receivables
  • Apply interest, penalties, and administrative charges for overdue receivables
Receivables and collections analysis and reporting
  • Prepare Treasury Report on Receivables (TROR)
  • Perform analysis and provide data, as requested
Cost management
  • Set up and maintain projects/cost centers, cost pools and cost objects to assign, allocate, or accumulate costs
  • Manage the accumulation of direct and indirect costs and allocations by cost object/pool and project/cost center
  • Analyze and report on costs by cost object and project/cost center
General ledger management
  • Process general ledger transactions, such as period-end accounting entries
  • Close and open accounting periods
General ledger analysis and reporting

Perform analysis and provide data, as requested, including in support of monthly and annual closing activities

Financial reconciliation
  • Prepare trail balance and other reconciliation reports
  • Support issue analysis and resolution
  • Support monthly reconciliation and reclassification of component Treasury Account Symbols (TAS)/Business Event Type Codes (BETC) for monthly CARS reporting to Treasury
  • Support reconciliation of Fund Balance with Treasury balances
Financial/performance reporting
Grants accounting

Process grants-related transactions in the financial system

Grants analysis and reporting

Perform analysis and provide data, as requested

Intra-governmental transactions

Process intragovernmental transactions in the financial system not received via interface from IPAC or G-Invoicing systems

Manage intra-governmental processes
  • Manage IPAC and G-Invoicing integrations, including the processing of transactions received from those systems
  • Maintain IPAC and G-Invoicing information in the financial system
  • Perform analysis and provide data, as requested
  • Support reconciliation processes
Payroll accounting
  • Maintain payroll accounting mapping information in the financial system
  • Process payroll files
  • Process payroll accrual transactions
  • Perform analysis and provide data, as requested
Purchase card transactions

Process purchase card transactions in the financial system

Manage purchase card processes
  • Manage integrations with purchase card providers
  • Support statement reconciliation
  • Perform analysis and provide data, as requested
Vendor and employee record maintenance
  • Add and maintain financial system records for employees and vendors, including grantees. This includes managing integrations with SAM and other systems, as appropriate.
  • Support 1099 processes
  • Support agency processes for Know Your Customer validation and other vendor review activities
  • Perform analysis and provide data, as requested
Fixed asset financial management

Process fixed asset transactions in the financial system

Fixed asset financial analysis and reporting

Perform analysis and provide data, as requested

Master data management

Maintain financial system master data, including managing year-end processes to establish new codes

Integration management
  • Maintain and execute financial system integrations
  • Troubleshoot integration issues

FM Managed Services Overview Brief

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