Federal Treasury of the Russian Federation and Oracle Sign Contract for the Development and Implementation of The Federal Treasury Automated System
Oracle® E-Business Suite to form basis of automated system.
Geneva, Switzerland 05-JAN-2006 A contract for the development and implementation of the Federal Treasury Automated System under the Russian Federation Treasury System Modernization project was signed on December 14th, 2005 between the Federal Treasury of the Russian Federation and the consortium of Oracle Corporation (NASDAQ: ORCL) and Oracle Nederland B.V. (jointly “Oracle”).
Oracle has been selected as the prime contractor for the provision of the application software to be based on Oracle® E-Business Suite. Oracle will be working with a number of Russian partners who have a proven success in large-scale public-sector projects, including: OJSC FORS-Development Center, CJS Borlas IBC, NII “Voskhod” and CJS “Oviont-Inform”.
The Federal Treasury Automated System of the Russian Federation will provide automated budget execution and business processes within central, regional and local offices. A unified Automated System will be based on Oracle E-Business Suite and Remote Financial Documents Flow System (SUFD) developed on Oracle Database. The project is expected to cover 367,000 workplaces and will include over 30,000 users at all levels of Federal Treasury, Russian Federation Ministry of Finance and Audit Chamber. Additionally, 337,000 other users who deal with budgets in the federal, Russian Federation member territories and municipal governments’ level are scheduled to benefit from the system.
Oracle Applications, including the Oracle E-Business Suite, enable information-driven business processes that connect and automate an organization. Developed to deliver business insight, adaptive industry processes and a superior ownership experience, Oracle Applications enable efficient management of all core business functions, such as customer interactions, financial management, human resources and supply chain management.
“With our local partners, we look forward to providing the Federal Treasury of the Russian Federation with a superior system,” said Sergio Giacoletto, Executive Vice President, Oracle Europe, Middle East & Africa. “Russia is a growing economy and information technology can play a significant role in making the country more competitive. With this project the Russia Federation is taking advantage of the latest innovative solutions to help accelerate economic growth.”
The project is funded by the World Bank and co-financed from the funds of the Russian Federation budget. The Project will include the provision of services for the development, implementation, replication and security of the system at all levels. In addition, Oracle and its partners will provide staff training services as well as the necessary licenses for the use of the software and ongoing support.
The contract follows an open tender, which began in June 2004, with bids evaluated by both the Federal Treasury and World Bank. This represents a significant win over SAP, who also bid for the contract. The project will commence in January 2006.
Oracle is the world’s largest enterprise software company. For more information about Oracle, visit our Web site at: http://www.oracle.com
Oracle, JD Edwards and PeopleSoft are registered trademarks of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners.
- Contact Information
- Val Russell
- Contact via E-mail
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.