ASRC Federal subsidiary ASRC Federal Data Network Technologies LLC, has been selected by the National Oceanic and Atmospheric Administration (NOAA) to execute the Financial Management Data System (FMDS) Technical Support Services contract. This work builds upon the longstanding partnership between ASRC Federal and NOAA.
ASRC Federal’s Advanced Analytics Platform, A2P, is the framework for NOAA’s FMDS program. FMDS is an operational system that enables NOAA financial analysts to perform financial management including budget planning, variance analysis & plan adjustments. One key feature of the FMDS tool is that it uses AI/ML to examine data from prior spending cycles to predict future spending needs. The custom application of this solution for NOAA demonstrates an effective application where AI and data analytics are helping a government agency achieve its goals with smarter financial management methods.
‘Single Pane of Glass’ View and AI-Enabled Forecasting
- FMDS leverages a commercially developed custom AI module that can make sense of the agency’s complex financial data patterns and pre-process it in ways that help personnel identify spending behaviors for individual contracts to predict how much of their budget could potentially be left unused on each contract.
- The program gives financial leaders greater visibility into the agency’s finances by breaking down silos to bring data from disparate systems into a “single pane of glass”, to give them the data they need at their fingertips.
- The system’s analytics provide an integrated view of timely data that enables better decision-making through improved visibility into past financial performance against plan as well as AI-enabled forecasts into future spending behavior.
Creating Efficiencies Through Cost Savings
In the first couple of years of deployment, the system has identified tens of millions of dollars that had not yet been allocated due to complex planning practices. This tool has been so impactful that NOAA rolled it out to its entire budget community after the initial deployment with its National Environmental Satellite, Data and Information Service (NESDIS) team. FMDS is based on commercial software that can be tailored to the unique needs of different agencies.
“This contract award underscores NOAA’s trust in our team to deliver innovative, reliable solutions like AI analytics for financial management,” said Clay Morad, vice president at ASRC Federal.
“FMDS presents an example of how an agency can evolve from an operating model focused on manually pulling data from various sources to one that gives leadership real-time visibility and vision into that data, and by extension, into the agency’s contracts and acquisitions,” said Theresa Cauble, ASRC Federal senior director of solutions architecture.
This contract is the first task order that ASRC Federal has won on the NOAA Mission IT Services (NMITS) acquisition vehicle. ASRC Federal will also provide front-line technical services to users while continuing to successfully implement this system across the agency. As a trusted partner, we look forward to advancing NOAA’s critical mission to better understand Earth’s climate and weather systems.
For more information, contact [email protected].
