Business Financial Management
Transtecs has successfully delivered Business and Financial Management (BFM) projects that enables government agencies to meet their cost and performance objectives. In the past 25 years, Transtecs has operated programs that require comprehensive financial analysis; budget formulation, execution, and closeout; and strategic planning within the PPBE cycle. Our EVMS cost estimating practices and ISO quality controls assist your Business and/or Financial Management (BFM) Team in developing, updating, and performing financial analysis in support of the development, production, and sustainment activities for program.
Transtecs provides budget formulation, strategic planning, and financial management analysis support that document program information and describe the overall financial objective for meeting your program or project goals. Our budget formulation process adheres to the PPBE cycle, augmented by our disciplines and concepts in financial analysis (accounting, budgeting, computer science, economics, engineering, mathematics, and statistics), in that we focus on objective, purpose, and long-term means of achieving them. We first integrate strategic planning, integrating goals, and objectives into the budget preparation process to essentially detail the procedure for distributing available resources equally among program objectives.
We perform budget formulation, strategic planning, and financial management analysis support using our EVM centered processes to:
- Formulate, review, and maintain budget requirements
- Deliver financial expertise, analysis, and guidance, as part of the PPBE cycle
- Develop budget estimates, documentation, and formulation estimates
- Provide financial analysis to maintain justifications
Transtecs brings extensive experience in financial operation support services, maintenance of accounting standards, processes, and requirements, and the implementation and proper maintenance of our customer’s accounting system. In supporting the budget execution, analysis, reconciliation, and interpretation of accounting data, records, and expenditure documents, Transtecs develops and delivers execution reports providing information for formulating policy, contract negotiations, planning actions, and evaluating financial performance.
During budget execution, we control program execution by documenting, accurately, the drawdowns on the appropriated funds by account as vendor receivables, payments, and other program expenditures are incurred. We further accomplish this by collecting, monitoring, and analyzing obligation/expenditure information, evaluating accounting records or systems, and past reports and documentations.
Throughout the fiscal year, Transtecs support our customer’s program by continuous analysis and assessments of the financial execution of the budget in relation to actual expenditures. We manage the use of Congressional obligated funds to ensure the expenditures are in accordance with policies, laws, standards, and participate or conduct PMRs and financial management reviews to analyze obligated funds and baselines.
Budget Closeout and Reconciliation
Transtecs reconciles financial and contract data by following traditional accounting principles. We ensure that all drawdowns are linked to appropriate work completions/deliverables and all financial and contract data discrepancies, if any, are identified and addressed prior to customer signoff. We conduct Reconciliation of accounts on a line item basis to ensure that funds were used for their intended purposes. Thereby ensuring that all funding expenditures are accurately recorded, linked to the appropriate work elements and reported within our customer’s program. The combination of traditional accounting and financial management processes with EVM data and protocols allows Transtecs to provide an integrated management approach that is targeted to identifying and mitigating the impacts of scheduling and budgetary issues on the overall program.
- Management Services
- Professional Support
- Human Capital Services
- Acquisitions Support
- Base & Facility Operations
- Distribution Support
- Supply & Warehousing
- Information Modernization
- Records & Document Management
Additional ServicesDesign & Engineering Training Support