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U.S. Department of Veterans Affairs advances financial integrity and efficiency with iFAMS deployments

1. CGI Federal deployed VA's Integrated Financial and Acquisition Management System. 2. The system enhances transparency, efficiency, and operational alignment at the VA. 3. iFAMS has processed over 11 million transactions worth $18 billion in disbursements. 4. CGI's Momentum Suite supports veterans' needs through improved service delivery. 5. The system complies with federal management laws, ensuring high accountability.

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Why Bullish?

The successful deployment of iFAMS could lead to increased revenue for CGI. Historical precedence, like enhanced contracts, often positively affect stock prices.

How important is it?

The news highlights a significant system deployment that strengthens CGI's portfolio with the VA, indicating potential revenue growth.

Why Long Term?

Long-term benefits are likely as the system continues to optimize VA processes and renews contracts. Contracts often extend over several years, affecting company valuation positively.

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CGI's Momentum® Enterprise Suite leverages the full potential of integrated financial and procurement data, positioning Veterans Affairs (VA) to further optimize business processes , /PRNewswire/ -- CGI Federal Inc. (CGI), a wholly-owned U.S. operating subsidiary of CGI Inc. (NYSE: GIB) (TSX: GIB.A), today announced the successful deployment of the U.S. Department of Veterans Affairs' Integrated Financial and Acquisition Management System (iFAMS) to the Loan Guaranty Program and the first group of Veterans Health Administration (VHA) users. These expansions comprise waves 7 and 8 of VA's implementation of one of the largest financial and procurement systems within the federal government. Built on CGI's Momentum® Enterprise Suite, iFAMS is a modern solution that standardizes, streamlines, automates and transforms VA's financial and acquisition processes. When fully implemented, iFAMS will replace five systems VA currently maintains across several technology platforms. This unified solution supports veterans by enhancing service delivery, efficiency, transparency, audit readiness and operational alignment across VA. CGI's Momentum solution is the first core financial management system approved for the U.S. Department of the Treasury's Financial Management Quality Service Management Office (FM QSMO) marketplace and is one of only two currently available. Specifically designed by CGI for federal agencies, the solution leverages proven commercial practices and technologies. CGI serves as both the solution provider and implementation partner to VA. The solution is architected to enable VA to maximize the use of Momentum and its COTS technologies, reducing total cost of ownership while providing a streamlined approach for VA to adopt new technologies. CGI continues to advance Momentum, leveraging AI to further automate business processes and increasing use of open-source technologies to lower the total cost of ownership, improve cyber posture and enhance system performance. This results in an agile VA that can adapt quickly to changing environment and requirements. "In parallel with the wave rollout, VA is able to take advantage of new capabilities and help drive the roadmap and design of those capabilities as part of the supported COTS solution," said Monica Winthrop, Senior Vice-President Consulting Services of Veterans Affairs, CGI. "CGI invests in the Momentum Enterprise Suite, incorporating features recommended by the extensive user community across all three branches of the government." iFAMS increases the transparency, accuracy, timeliness and reliability of financial and acquisition information, enhancing data-driven decision making for those who serve veterans, while also improving fiscal accountability to taxpayers. iFAMS complies with federal financial and acquisitions management law, executive orders and relevant policies and procedures. To date, iFAMS has processed over 11 million transactions and US$18 billion in Treasury disbursements and supports US$39.9B in contracting dollars. About CGI Federal CGI Federal Inc. (CGI), a wholly-owned U.S. operating subsidiary of CGI Inc., is a leading technology and professional services company that serves federal agencies across defense, civilian, healthcare, justice, intelligence and international affairs. With nearly 8,000 professionals, CGI works with its clients to modernize government through innovative technology solutions, flexible delivery models and a commitment to achieve mission outcomes. For more information, visit www.cgifederal.com. SOURCE CGI Federal, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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