OMB said ensuring that federal shared service provides are capable of meeting the needs of all agency customers could take several years.
According to the memo, OMB and Treasury will work to ensure that each agency’s future financial system needs are met by supporting the expansion of FSSP offerings and capabilities.
In order to do this, FSSPs will need to enhance service offerings, expand technology and transaction processing capabilities, and have a strong governance structure, the memo said.
It said agencies also must adjust and adopt standardized processes and that OMB and Treasury would take steps to make this possible. That includes analyzing existing SSPs to identify capability gaps, evaluating agencies’ current financial and related mixed system needs, identifying the need and interest in additional FSSPs, as well as development of a blueprint for a strategy to address gaps and identify a limited number of approved FSSPs that are capable of meeting agency needs.
Designated FSSPs must offer at least one core financial management system that will fully interface with subsidiary systems, such as payroll, travel, and procurement systems, as well as Treasury’s payment, collection, and central reporting systems, according to the memo.
It said FSSPs also must have the ability to provide reporting capabilities on core accounting data that is sufficient for each agency to manage its funds.
