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IT2 Treasury Solutions Inc. announces that the Financial Management Service (FMS), a bureau of the U.S. Department of the Treasury has selected IT2 as the central repository of information for cash management purposes.
FMS is implementing IT2 to improve operations. IT2 will assist in reducing multiple re-keying data entry operations, and to implement best practice Treasury processes using process mapping facilities. IT2 will support the effective imposition of internal control standards, including segregation of duties and audit trail administration.
Steve Bullock, IT2’s Senior Vice President and Regional Manager, said, “Our work with the Financial Management Service Treasury affirms the value of IT2’s cash, Treasury and financial risk management solution to government sector organizations. We have built a business partnership with the FMS team, so that we can work together to assure project results.”
The FMS operation is located in Washington, DC, and the IT2 system is externally hosted by IT2 Treasury Solutions’ company’s technology partner, Rackspace.
About the FMS (www.fms.treas.gov)
The Financial Management Service (FMS) is a bureau of the U.S. Department of the Treasury. Based in Washington, DC, FMS’ mission is to provide central payment services to federal program agencies, operate the federal government's collections and deposit systems, provide government-wide accounting and reporting services and to manage the collection of delinquent debt owed to the government.