Improving financial management for a stronger U.S.

Navy
The Department of the Navys Financial Improvement Program (FIP) is a multi-year, department-wide effort to strengthen NavyMarine Corps business processes, internal controls, and systems. With Accentures help, the Navy is transforming the departments financial management to better serve worldwide operations and produce financial information with greater accuracy, timeliness, and reliability in an environment of changing and evolving systems. presence in peacetime and prepared to rapidly respond to regional crises. The Navys Office of Financial Operations is responsible for managing the Navys $150 billion annual budget, helping to ensure the nations defense with the efficient and effective use of tax dollars. 2014. The U.S. Navys finance organization faces a rapidly changing environment that requires improved performance while also lowering costs. Both the administration and Congress are demanding more valueadded insight, and regulatory bodies and the public want greater transparency and accountability about how tax dollars are being spent. The challenge is even more difficult in the current economic climate. To meet the challenge, the Navy needs to transform its financial operations. Its goal: enable faster, better decision-making and more effective oversight of taxpayer dollars with more timely, reliable and accurate financial information.

Business Challenge
Defense Secretary Leon Panetta has ordered a review of the Department of Defenses financial controls and a speed-up of preparations for a military-wide audit, steps needed to assure the public that his department is accountable and minimizing waste. In Oct 2011, the DoD expedited its timeline to be ready for an audit of its Statement of Budgetary Resources by

Client Background
The United States Navy is the largest in the world. With 328,516 personnel on active duty and 101,689 in the Navy Reserve, the U.S. Navy is a key player in U.S. foreign and defense policy, maintaining a global

The U.S. Navy awarded Accenture a multiple year, indefinite-delivery/ indefinite-quantity contract to oversee the departments implementation of its Financial Improvement Program (FIP). The Navy turned to Accenture because of its longstanding relationship as a trusted federal defense contractor over four decades. Accentures Finance offerings have a proven track record. They provide tightly integrated, highly scalable accounting processes through leading practices, leading-edge technology and competitive operating models that employ shared services and business outsourcing. By combining industry-leading practices with an emphasis on work-force training and development, Accenture helps Defense finance organizations achieve high performance.

Accenture is also supporting the Navys Business Process Standardization Effort, which is focused on creating standard processes across the Navy to reduce variations and improve audit readiness. Accenture helped the Navy identify key performance gaps and develop solutions, including system improvements, process reengineering and leading business practices. Throughout the implementation, Accentures training and change management processes ensured the effective transfer of knowledge to Navy personnel, enabling a smooth transition and sustained change.

About Accenture Defense

Accentures Defense industry group delivers strategy, operations, IT and mission services that enable departments of defense, the intelligence community and federal agencies to achieve high performance and support the warfighter at speed. With the help of Accentures capabilities, worldwide presence and experience, clients meet mission goals, mitigate risk and realize cost savings. Visit www.accenture.com/defense for more information.

About Accenture
Accenture is a global management consulting, technology services and outsourcing company, with approximately 236,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the worlds most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$25.5billion for the fiscal year ended Aug. 31, 2011. Its home page is www.accenture.com.

High Performance Delivered

The Navys transformation is modernizing and streamlining financial management, allowing the operation to better serve worldwide operations and produce financial information with greater accuracy, reliability, timeliness and accessibility. More efficient, fully integrated systems and processes also enable greater accountability and transparency of taxpayer dollars. The benefits of state-of-the-art capabilities and processes are far reaching even as the FIP implementation continues. With Accentures help, the U.S. Navy is building a world-class financial operation, equipped to support the growing needs of a 21st century defense organization. The worlds largest Navy is on the path to achieving its financial management goals and high performance.

How Accenture Helped

Working closely with the Navy, Accenture is leading the transformation of financial operations with the implementation of FIP. The implementation employs Accentures integrated suite of strategies, enabling a comprehensive review of the departments financial management and accounting operations as well as the validation and strengthening of internal controls. A major aspect of the transformation is improving the Navys audit readiness to meet more stringent requirements under the CFO Act and aligning audit readiness with Office of Management and Budget Circular A-123. Accenture helped document processes, validate internal controls, verify financial reports and underlying data, and support other audit readiness activities.

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