U.S. Department of Veterans Affairs advances financial integrity and efficiency with iFAMS deployments

Rhea-AI Summary

CGI Federal Inc., a subsidiary of CGI Inc. (NYSE: GIB), has announced successful deployments of the Integrated Financial and Acquisition Management System (iFAMS) to the VA's Loan Guaranty Program and Veterans Health Administration users. This marks waves 7 and 8 of one of the federal government's largest financial system implementations.

Built on CGI's Momentum® Enterprise Suite, iFAMS will replace five existing VA systems, streamlining financial and acquisition processes. The system has already processed over 11 million transactions and US$18 billion in Treasury disbursements, supporting US$39.9B in contracting dollars. The solution is one of only two systems approved for the U.S. Treasury's FM QSMO marketplace.

Positive

• System has successfully processed over 11 million transactions and US$18B in disbursements
• iFAMS will consolidate five existing systems into one unified solution, reducing operational complexity
• Solution is one of only two systems approved for U.S. Treasury's FM QSMO marketplace
• Implementation of AI and open-source technologies will lower total cost of ownership

Negative

• Complex multi-wave implementation process may present integration challenges
• System transition across multiple platforms requires significant resources and coordination

Insights

Government IT Contracting Expert

CGI hits major milestone in VA's financial system implementation, strengthening its position in lucrative federal IT modernization market.

The successful deployment of waves 7 and 8 of the Veterans Affairs (VA) Integrated Financial and Acquisition Management System (iFAMS) represents a significant execution milestone for CGI Federal in one of the largest federal financial system implementations. This project leverages CGI's proprietary Momentum® Enterprise Suite, which notably is one of only two solutions approved for the Treasury Department's Financial Management Quality Service Management Office marketplace.

This implementation carries strategic importance beyond just this contract. By serving as both solution provider and implementation partner, CGI captures dual revenue streams while demonstrating capability to deliver on complex federal modernization initiatives. The press release highlights that iFAMS has already processed $18 billion in Treasury disbursements and supports $39.9 billion in contracting dollars – underscoring the system's critical production status and broad impact.

The mention of CGI's ongoing investment in Momentum, particularly incorporating AI capabilities and open-source technologies, signals the company's commitment to maintaining competitive advantage in the federal financial systems market. This approach creates potential for expanded service opportunities as VA adapts to changing requirements.

For investors, this successful implementation strengthens CGI's positioning for future federal modernization contracts while providing ongoing maintenance and enhancement revenue. The government's selection of CGI for this highly visible project reinforces the company's technical credibility in mission-critical systems that handle billions in federal spending.

CGI's Momentum^® Enterprise Suite leverages the full potential of integrated financial and procurement data, positioning Veterans Affairs (VA) to further optimize business processes

FAIRFAX, Va., Aug. 27, 2025 /PRNewswire/ -- CGI Federal Inc. (CGI), a wholly-owned U.S. operating subsidiary of CGI Inc. (NYSE: GIB) (TSX: GIB.A), today announced the successful deployment of the U.S. Department of Veterans Affairs' Integrated Financial and Acquisition Management System (iFAMS) to the Loan Guaranty Program and the first group of Veterans Health Administration (VHA) users. These expansions comprise waves 7 and 8 of VA's implementation of one of the largest financial and procurement systems within the federal government.

Built on CGI's Momentum^® Enterprise Suite, iFAMS is a modern solution that standardizes, streamlines, automates and transforms VA's financial and acquisition processes. When fully implemented, iFAMS will replace five systems VA currently maintains across several technology platforms. This unified solution supports veterans by enhancing service delivery, efficiency, transparency, audit readiness and operational alignment across VA.

CGI's Momentum solution is the first core financial management system approved for the U.S. Department of the Treasury's Financial Management Quality Service Management Office (FM QSMO) marketplace and is one of only two currently available. Specifically designed by CGI for federal agencies, the solution leverages proven commercial practices and technologies. CGI serves as both the solution provider and implementation partner to VA.

The solution is architected to enable VA to maximize the use of Momentum and its COTS technologies, reducing total cost of ownership while providing a streamlined approach for VA to adopt new technologies. CGI continues to advance Momentum, leveraging AI to further automate business processes and increasing use of open-source technologies to lower the total cost of ownership, improve cyber posture and enhance system performance. This results in an agile VA that can adapt quickly to changing environment and requirements.

"In parallel with the wave rollout, VA is able to take advantage of new capabilities and help drive the roadmap and design of those capabilities as part of the supported COTS solution," said Monica Winthrop, Senior Vice-President Consulting Services of Veterans Affairs, CGI. "CGI invests in the Momentum Enterprise Suite, incorporating features recommended by the extensive user community across all three branches of the government."

iFAMS increases the transparency, accuracy, timeliness and reliability of financial and acquisition information, enhancing data-driven decision making for those who serve veterans, while also improving fiscal accountability to taxpayers. iFAMS complies with federal financial and acquisitions management law, executive orders and relevant policies and procedures. To date, iFAMS has processed over 11 million transactions and US$18 billion in Treasury disbursements and supports US$39.9B in contracting dollars.

About CGI Federal
CGI Federal Inc. (CGI), a wholly-owned U.S. operating subsidiary of CGI Inc., is a leading technology and professional services company that serves federal agencies across defense, civilian, healthcare, justice, intelligence and international affairs. With nearly 8,000 professionals, CGI works with its clients to modernize government through innovative technology solutions, flexible delivery models and a commitment to achieve mission outcomes. For more information, visit www.cgifederal.com.

View original content:https://www.prnewswire.com/news-releases/us-department-of-veterans-affairs-advances-financial-integrity-and-efficiency-with-ifams-deployments-302539521.html

SOURCE CGI Federal, Inc.

FAQ

What is the significance of CGI's iFAMS deployment for VA operations?

iFAMS is streamlining VA's financial and acquisition processes by replacing five existing systems with a unified solution, enhancing service delivery, efficiency, and transparency while supporting US$39.9B in contracting dollars.

How many transactions has the VA's iFAMS system processed so far?

The system has processed over 11 million transactions and US$18 billion in Treasury disbursements to date.

What makes CGI's Momentum solution unique in the federal marketplace?

Momentum is the first core financial management system approved for the U.S. Treasury's FM QSMO marketplace and is one of only two currently available solutions.

How will AI integration benefit VA's iFAMS system?

AI integration will help automate business processes, while increased use of open-source technologies will lower total ownership costs, improve cyber security, and enhance system performance.

What are the key benefits of iFAMS for Veterans Affairs?

iFAMS enhances data-driven decision making, improves fiscal accountability, increases transparency, and provides greater accuracy and reliability in financial and acquisition information.