General Dynamics Unit Gets $306 Million Contract From Veterans Benefit Administration
October 01 2020 - 2:24PM
Dow Jones News
By Chris Wack
General Dynamics said Thursday that its information technology
unit received a file conversion services task order under the
Veterans Intake, Conversion and Communication Services program by
the Department of Veterans Affairs' Veterans Benefit
Administration.
The company said the single award under the VICCS
indefinite-delivery, indefinite-quantity contract is valued at $306
million over five years.
Under the task order, General Dynamics Information Technology
will use managed services and artificial intelligence to digitally
convert historical veteran records, automate data extraction of
existing records and process official military personnel file
requests in support of veteran benefits claims processing.
General Dynamics Information Technology will also accelerate the
modernization of legacy veteran records by deploying new digital
capabilities and artificial intelligence to automate routine tasks.
In addition to improving services for veterans, these solutions
will increase cost savings and efficiency to the VBA.
On Thursday, Barclays cut its price target for General Dynamic
shares to $165 from $170 a share, while maintaining its overweight
recommendation.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
October 01, 2020 14:09 ET (18:09 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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