This revision of the Federal Financial Management System Requirements (FFMSR) implements the Office of Management and Budget (OMB) and the Department of the Treasury guidance to help achieve shorter-term, lower-cost, and more incremental financial management system modernization.
The revised requirements are:
- Focused on business rather than technology:
- Neutral to the system solution [shared federal or commercial service, custom commercial off-the-shelf/government off-the-shelf (COTS/GOTS) technology, automated or manual];
- Defined as federal government unique financial management data input, business process, and data output;
- Applicable to both administrative systems as well as program operation systems that perform financial management business processes (that is, mixed systems); and
- Referenced to their federal government authoritative sources.
Federal Financial Management System Functions
This page was last updated on June 21, 2021.