Defense Financial Management System Upgrade Reduces Costs
American Forces Press Service
ARLINGTON, Va., Jul. 27, 2004 The Defense Finance and Accounting Service completed an upgrade to the Defense Industrial Financial Management System on July 18. The upgrade will reduce annual information-processing costs by $11.1 million, or 56 percent of previous costs.
"The upgraded system provides our customers a higher quality product at a greater value," said Zack E. Gaddy, DFAS director.
DIFMS previously ran on a proprietary Unisys system, pointed out DFAS spokesman Bryan Hubbard. The hardware upgrade to an IBM and Sun-based platform makes the system faster, more reliable and more cost effective. It also will allow users to dig deeper into a database to find and present information in easier-to-use forms. The finance service is the world's largest finance and accounting operation. It provides payroll services, finance and accounting services, and contract- payment services to customers in the Air Force, Navy and other defense agencies.
In fiscal 2003, DFAS paid about 5.9 million people, processed more than 12.3 million invoices from defense contractors, disbursed more than $416 billion and managed more than $194 billion in military trust funds.
(Based on a DFAS release.)