5 Jan 2006
Federal Treasury of the Russian Federation and Oracle Sign Contract for the Development and Implementation of The Federal Treasury 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(R) 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.
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