Arthur McMiler
The Department of the Treasury has approved the Elevate Financial Management tool of digital services provider SMX as a new option in the department’s Financial Management Quality Service Management Office Marketplace. Elevate FM will be available through its subsidiary, Creoal Consulting, with orders to be made via the General Services Administration’s Multiple Award Schedule, SMX said Tuesday.
Federal Financial Management Tool
Currently, Elevate FM is one of only two core federal financial management tools available in the FM QSMO Marketplace. CGI Federal provides the other option, with its financial management offering to federal agencies approved by the Treasury in November 2022. The department initiated the marketplace that year under its 10-year Vision for the Future of Federal Financial Management geared at modernizing and streamlining the financial operations of federal agencies.
SMX designed Elevate FM with a comprehensive process not only helping in financial management modernization but also lowering operational costs and enhancing efficiencies overall. In addition, the tool fosters improvements in financial transparency, reporting and policy compliance, the Herndon, Virginia-based SMX said.
New Initiatives on Financial Services
In February, SMX expanded its financial and analytical services through its acquisition of cBEYONData that was integrated into the newly created Enterprise Systems and Solutions business unit under its president, Sandeep Dorawala. The company’s Creoal Consulting, tasked to offer Elevate FM to federal agencies through the FM QSMO Marketplace, was an earlier SMX acquisition in 2023.
Dorawala conveyed the company’s excitement on the opportunity to collaborate with federal agencies in enhancing the efficiencies and automation of their financial operations. The company’s offering in the FM QSMO Marketplace underscores SMX’s “innovative, compliant and modern approach to federal financial management,” the executive commented.
Tim Gribben, commissioner of the Treasury’s Bureau of the Fiscal Service, described Elevate FM’s marketplace authorization as a “key milestone” supporting federal agencies’ financial management modernization and streamlining data exchange and financial reporting.
