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In response to the many federal agencies considering financial system modernization efforts, the NBC has constructed a pre-configured federalized instance of Oracle Federal Financials – iFederal Finance, iF2. Using the off-the-shelf functionality of Oracle’s Federal Financials application as a baseline, NBC’s pre-configured federalized instance offers Federal customers additional features not provided in the base product. This accounting software is designed to meet the specific needs of the federal financial community. Based on our experience with many different agencies of varying size and differing missions, we have concluded that there are many common core federal accounting practices. These practices can be leveraged for maximum efficiency while still allowing agencies to take advantage of the many flexibilities offered by Oracle applications.
iF2 provides a built-in flexibility that allows for quick response to changing regulatory and management requirements. The NBC analyzes all Federal requirement changes for their impact on our clients, updates iF2 configurations as needed, and recommends modifications to client business practices where appropriate. The NBC is recognized as a premier service provider within the Federal government. Throughout the NBC, customer service is continuously emphasized as the key to our cross-servicing success.
Key iF2 Features:
- Web-based, state-of-the-art technology;
- Predefined roles and responsibilities in full compliance with Federal internal control policies and security requirements;
- Predefined accounting flexfield structure fully compliant and pre-populated with Treasury’s Standard General Ledger (SGL) accounts;
- Predefined transaction codes fully integrated with the accounting flexfield structure which automate the general ledger posting process, without user intervention;
- A suite of standard, predefined reports based on the standard accounting flexfield structure;
- Standard Federal interface models; e.g., Treasury, Payroll;
- Pre-configured setup for the SF-224, SF-133, FACTS I and II and other standard federal reports;
- Robust reporting capabilities, including user-friendly integration with common desktop tools such as Microsoft Excel;
- Oracle Portal provides single sign-on integration for conducting day to day business across all administrative applications: iF2, data warehouse, other web-based applications, desktop tools, legacy systems, etc.
The benefits of iF2 extend beyond the application software. The NBC’s production support model provides iF2 users with a secure, full-service hosting environment that is fully compliant with all Federal regulations and audit requirements including SAS70. The NBC also provides comprehensive help desk services with expertise that spans Federal financial accounting, Oracle Federal Financials, and technical support in an open systems environment. The quality of customer service combined with the depth and breadth of our team’s expertise is unmatched.
For those independent agencies looking for a JFMIP certified solution that can easily address your unique operational and reporting requirements, consider iF2. The NBC can construct a full service solution for your agency that provides the opportunity for significant cost savings, while providing flexibility to meet your agency’s specific needs.
For additional information, please contact Sue_A_Compton@nbc.gov.
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