The Coast Guard last week transitioned to an integrated financial, acquisition and asset management system, part of a Department of Homeland Security-wide financial modernization effort.
The Coast Guard on Tuesday said the transition to the Financial Systems Modernization Solution (FSMS) went live on Dec. 17 and warned vendors to expect delays in payments due to a backlog in invoices.
Payments will be prioritized to utilities, small businesses, members and large-dollar contract with the remaining invoices processed on a first-come, first-served bases as soon as possible, the Coast Guard said.
In 2020, DHS transitioned its first two agencies to the FSMS, the Countering Weapons of Mass Destruction Office and the Transportation Security Administration.
“The new system brings automated and integrated controls, uses common accounting lines, standard business practices, and the most up-to-date security, moving agencies away from transaction-level processes to focus on data reporting and analytics,” DHS said.
A DHS official told a House panel in late September that the Federal Emergency Management Agency, Immigration and Customs Enforcement, and smaller components are scheduled to transition to FSMS between fiscal years 2024 and 2026.