SRA to Support Small Business Administration's New Loan Management and Accounting System Under Blanket Purchase Agreement
October 07 2008 - 9:00AM
PR Newswire (US)
Financial Management Line of Business (FMLoB) Award for SRA
FAIRFAX, Va., Oct. 7 /PRNewswire-FirstCall/ -- SRA International,
Inc. (NYSE:SRX), a leading provider of technology and strategic
consulting services and solutions to government organizations and
commercial clients, today announced that it has been awarded a
blanket purchase agreement (BPA) from the Small Business
Administration (SBA) to overhaul its Loan Management and Accounting
System (LMAS). This program falls under the OMB-mandated Financial
Management Line of Business (FMLoB) guidance for acquiring and
deploying financial management systems and has a ceiling of $250
million over the 10-year life of the BPA. Under the BPA, SRA has
been awarded three task orders to date, valued at approximately $26
million. With these initial task orders, SRA will host and support
SBA's existing Oracle Federal Financial accounting system; execute
a pilot using Oracle Loans, Oracle Federal Financials and other
Oracle applications, to demonstrate the new solution's ability to
meet the requirements of the SBA 7(a) regular loan program; and
develop a Deployment Blueprint and detailed plan that articulates
the implementation and full deployment of all SBA loan programs,
supported by more than 6,000 financial institutions. SBA will use
the Blueprint and the detailed plan to incrementally award
additional task orders with clearly defined scope, time and cost to
implement the solution. This incremental approach allows SBA to
fully validate the solution prior to full system deployment and
achieve incremental success. "Loans to small businesses are at the
core of SBA's mission, and a critical part of the U.S. economy. SRA
understands how critical this program is - especially in the
current liquidity crunch," said Max Hall, SRA Civil Sector senior
vice president. "This award confirms SRA's commitment and position
in the FMLoB and managed services market supporting large-scale,
mission-critical programs, and enables SRA to provide SBA with a
fully integrated and updated financial management system."
Thousands of business loans are made each year either direct from
the SBA or guaranteed through the SBA. SBA's total portfolio is
approximately $85 billion. LMAS's objective is to modernize,
implement, host and maintain an integrated loan management system
that supports full life-cycle (loan origination, loan servicing,
liquidation, litigation and purchasing) for all SBA's direct and
guarantee loan programs, and an integrated financial management
system that supports the financial management/accounting for all
the loan programs and SBA's financial reporting. SRA has several
partners for this program, including CGI Federal, Creoal
Consulting, Kearney and Company, Oracle Corporation, SAVVIS, SCi
and TeraThink Corporation. About SRA International, Inc. SRA and
its subsidiaries are dedicated to solving complex problems of
global significance for government organizations serving the
national security, civil government and global health markets.
Founded in 1978, the company and its subsidiaries have expertise in
such areas as air surveillance and air traffic management; contract
research organization (CRO) services; cybersecurity; disaster
response planning; enterprise resource planning; environmental
strategies; IT systems, infrastructure and managed services;
logistics; public health preparedness; strategic management
consulting; systems engineering; and wireless integration.
FORTUNE(R) magazine has chosen SRA as one of the "100 Best
Companies to Work For" for nine consecutive years. The company and
its subsidiaries employ more than 6,400 employees serving clients
from headquarters in Fairfax, Va., and offices around the world.
For additional information on SRA, please visit
http://www.sra.com/. Any statements in this press release about
future expectations, plans, and prospects for SRA, including
statements about the estimated value of the contract and work to be
performed, and other statements containing the words "estimates,"
"believes," "anticipates," "plans," "expects," "will," and similar
expressions, constitute forward-looking statements within the
meaning of The Private Securities Litigation Reform Act of 1995.
Actual results may differ materially from those indicated by such
forward-looking statements. In addition, the forward-looking
statements included in this press release represent our views as of
October 7, 2008. We anticipate that subsequent events and
developments will cause our views to change. However, while we may
elect to update these forward-looking statements at some point in
the future, we specifically disclaim any obligation to do so. These
forward-looking statements should not be relied upon as
representing our views as of any date subsequent to October 7,
2008. DATASOURCE: SRA International, Inc. CONTACT: Sheila
Blackwell, +1-703-227-8345, or Kelly Batalle, +1-703-284-5083, ,
both of SRA International, Inc. Web site: http://www.sra.com/
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