What is FMBT?
The Financial Management Business Transformation, or FMBT, program kicked off in 2016 as a shared services project with the Agriculture Department. “What began as a shared services partnership with the U.S. Department of Agriculture abruptly transitioned to a sole-VA effort when USDA pulled out of the deal.
What is VA iFAMS?
VA is in the midst of a multi-year finance and acquisition system modernization project ( iFAMS ) which will replace VA’s core financial management system (FMS) and standardize many business practices.
What is VA modernization?
VA Modernization is a continuous journey that empowers our Veterans, employees, and partners to: Transform systems to create foundational change. Simplify operations to improve customer service. Empower people to embrace change.
What is FMS in the VA?
In 2016, the current financial management system (FMS) was predicted to have five to seven years of operational life left — meaning VA has two to four years before the system ceases to function.