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IBM streamlines US Navy financial ops

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Software

IBM Corp. has won a one-year, $35 million Navy contract for financial and accounting services to streamline financial operations, the company announced today. The contract could be worth more than $100 million over five years if all options are exercised.

IBM Business Consulting Services of Fairfax, Va., will help the Navy develop standardized financial reporting processes, identify department deficiencies and design new processes to ensure audit compliance.

The first phase of the contract work in Fairfax, Norfolk, Va., and San Diego is scheduled for completion by March 2006 and could run until 2010 with options.

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