Oracle is First to Successfully Complete New Federal Qualification For Financial Applications
PR Newswire - August 02, 1999 08:16
100 Percent Internet Solution Passes Test Rapidly, Efficiently Entirely From Web Browser
REDWOOD SHORES, Calif., Aug. 2 /PRNewswire/ -- Oracle Corp. (Nasdaq: ORCL), the number one choice for e-business, today announced it successfully completed Joint Financial Management Improvement Program (JFMIP) qualification July 15 with Oracle(R) U.S. Federal Financials Release 11, the only 100 percent internet solution for the federal government. Oracle, the first vendor to meet JFMIP qualifications, completed the week-long test on its first try in just four days, conducting it entirely from a web browser. Completing this qualification further demonstrates Oracle's leadership in bringing the power of e-business computing to the federal government.
The JFMIP is an independent agency that develops the tools and capabilities to improve government financial systems. Starting Oct. 1, the federal government will require that new financial management software purchases meet JFMIP qualifications. In December 1996, Oracle U.S. Federal Financials was certified for inclusion on the U.S. General Services Administration (GSA) Financial Management System Software (FMSS) schedule, a predecessor of JFMIP qualification.
"Next year the federal government will spend $1.7 billion in its continuing effort to fix its financial management systems," said Bob Dornan, senior vice president, Federal Sources, Inc., McLean, Va. "GSA and JFMIP are working together to ensure the systems used by agencies will have the necessary functions to accomplish this goal, while minimizing the acquisition process. Oracle's qualification, using the latest state-of-the-art, web-based technology, will ensure it is a leading player in this market."
With JFMIP qualification, Oracle's federal offering now has a broader scope, extending beyond the four core modules. Agencies can easily integrate applications such as Oracle Financial Analyzer, Application Desktop Integrator, Projects, Order Entry, Fixed Assets, Inventory and Human Resources. In addition to passing the core JFMIP requirements, Oracle demonstrated 130 "valued-added" features on the test.
"Oracle is pleased with the JFMIP's new qualification process," said Frank Bishop, vice president, Development, Oracle Public Sector Applications. "The government has developed a test that accurately reflects the business needs of today's federal agencies. Oracle U.S. Federal Financials incorporates internet technology to enable e-government. Oracle's pure web applications make it possible for agencies to streamline internal and external processes, enhance decision making and reduce administrative costs."
About Oracle U.S. Federal Financials
Oracle has been a leader in providing financial solutions to and working with the federal government, responding to the unique requirements of federal agencies with enhanced functionality since first certified in 1996. Oracle's financial suite for the federal market, Oracle U.S. Federal Financials, includes Oracle U.S. Federal General Ledger, Oracle U.S. Federal Receivables, Oracle U.S. Federal Payables and Oracle U.S. Federal Purchasing. The financial suite integrates with all other Oracle financial modules and applications suites for human resources, payroll and supply chain. Oracle Federal Applications are Y2K compliant.
Oracle Corporation is the world's leading supplier of software for information management, and the world's second largest independent software company. With annual revenues of more than $8.8 billion, the company offers its database, application server, tools and application products, along with related consulting, education, and support services, in more than 145 countries around the world.
For more information about Oracle, please call 650-506-7000. Oracle's Worldwide Web address is (URL) oracle.com.
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