ARLINGTON, Va. and REDWOOD SHORES, Calif., Oct. 29 /PRNewswire-FirstCall/ -- CACI (NYSE: CAI) and Oracle announced today that the two companies have entered into an agreement to jointly develop a Contract Lifecycle Management solution that helps federal organizations author, execute, and manage procurement contracts in compliance with the Federal Acquisition Regulation (FAR), Defense Federal Acquisition Regulation Supplement (DFARS), and other agency supplements. CACI will provide subject matter expertise gained from years of experience designing and implementing contract management systems for the Department of Defense and federal civilian agencies to help Oracle enhance the functionality of its commercial-off-the-shelf (COTS) Oracle(R) E-Business Suite. This functionality is expected to support both simplified and complex acquisitions and be integrated with Oracle's procurement and financial management applications to provide a complete procure-to-pay process that meets government compliance mandates and transforms federal contract management.
Oracle Contract Lifecycle Management is an enterprise solution that helps create and enforce better contracts by enabling standardized contract processes, reduced time-to-contract, and contract compliance. The solution builds on existing procurement and contract lifecycle management functionality within Oracle E-Business Suite, providing capabilities to help significantly cut supply management costs for federal customers by integrating requisitioning, sourcing, purchasing, and supplier collaboration with business intelligence. It provides contract professionals with capabilities to author, approve, sign, monitor, track, modify, renew, and close out contracts.
CACI will leverage its experience gained from over 30 years in the federal procurement space to transition the current user community from existing solutions to Oracle's enhanced contract management offering. CACI's depth and breadth of capabilities stem from the development and implementation of widely used acquisition systems and contracting operations that encompass the full spectrum of procurement, ranging from shopping cart buys to complex acquisition management. In addition, the company works with federal customers as a systems integrator to achieve consolidation of acquisition, financial, and other business systems into enterprise resource planning (ERP)-centric models through its broad-based implementation services. The company also specializes in the development and delivery of end-user training programs that integrate agency procurement business processes with automated acquisition applications.
"The combination of Oracle's complete, integrated procurement solution with CACI's expertise in Federal compliance standards, particularly related to the complex contracting process for major acquisitions, provides a significant advantage for our Federal customers. The additional functionality we are developing with CACI will enable customers to make better use of the application to help ensure compliance with established standards to meet even their most challenging needs," said Mark Johnson , Senior Vice President, Public Sector Sales, Oracle North America.
"CACI provides federal agencies with information technology solutions that are built on industry best practices for the business of government," said Gil Guarino , Executive Vice President, Transformation Solutions, CACI International Inc. "Over our 46-year history, we have developed an in-depth understanding of how the federal government works, the missions of civilian and defense agencies, and the importance of procurement and acquisition systems to achieve organizational goals. We are very pleased to work with Oracle and provide state-of-the-art procurement and contract lifecycle management systems to the federal government."