New financial system exceeds $4 Billion in transactions
DENVER — Monday, Aug. 4, 2014 — The State of Colorado’s new integrated financial system, the Colorado Operations Resource Engine (CORE), processed more than $4 Billion in transactions in the first month after its July 1 launch. The system processed nearly $1 Billion in payments, which included critical Medicaid payments to service providers, payroll for the State’s workforce of 33,000 employees and vendor payments. It also processed nearly $1.5 Billion in cash receipts and encumbered more than $2.3 Billion in purchases in the first four weeks of operations.
More than 2,250 State employees have accessed and are using the new system, which replaced a faltering 22-year old accounting system that was written in COBOL, in which users tabbed through a myriad of “green screens” to do their work. The new accounting system also integrates budget and purchasing functions, allowing the State to replace multiple aging and redundant systems with a single source of reliable and transparent fiscal data for the majority of the State’s financial operations. More than 137,000 documents have been processed.
CORE’s Vendor Self Service (VSS) module launched on July 7. Accessible at www.colorado.gov/VSS, the public-facing module allows businesses the opportunity to view State solicitations and register to receive notifications. VSS replaced the former system, ColoradoBIDS, for all but a few institutions of higher education. Unlike ColoradoBIDS, VSS no longer requires a $40 registration fee for business owners to access and bid on posted solicitations. More than 90 solicitations have been posted in the new system since its launch.
CORE is based on CGI’s built-for-government enterprise resource planning system, Advantage®, which was rebranded and configured to meet Colorado’s unique needs. Advantage® has been successfully implemented in 22 states and by more than 300 government organizations.
CORE implementation is a joint effort between the Colorado Department of Personnel & Administration, the project’s business sponsor, and the Governor’s Office of Information Technology.
For more information, contact:
Sabrina D’Agosta, Director of Policy & Communications
O: 303-866-6555 | C: 303-437-6671