CACI wins $308M VA financial systems modernization contract

CACI International Inc (NYSE: CACI) has been awarded a six-year contract valued at up to $308 million by the Department of Veterans Affairs to modernize and maintain the agency's financial management systems, according to a press release from the company.

Under the contract, CACI will provide operations and maintenance for the VA's existing Enterprise Resource Planning tool, the Integrated Financial and Acquisition Management System (iFAMS), while replacing legacy financial infrastructure that has been in place for decades.

The work covers accounting, financial management, acquisitions, reporting, and related transactions for the VA.

John Mengucci, CACI's President and Chief Executive Officer, said: "Our team's deep understanding of the challenges faced by the VA allows us to deliver resilient, enterprise-scale Enterprise Resource Planning solutions that strengthen financial stewardship and sustain the transformative business processes needed to ensure longevity of the VA."

CACI is headquartered in Reston, Va., and employs approximately 27,000 people.

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