iTRAK
Investment ID: 422-000001327
Overview
Program Title
iTRAK
Description
NSF's financial management system. iTRAK is used to record, report, and review NSF financial data and is the primary system for managing funds allocated to the Foundation.
Type of Program
Major IT Investments
Multi-Agency Category
Not Applicable
Associated Websites
itrak.nsf.gov
Investment Detail
iTRAK's initial implementation was on budget and on schedule, as reported previously. Since the initial implementation and stabilization in FY15, enhancements have been managed and implemented as planned within funding allocations. Including implementing a seamless Single Sign On (SSO) authentication integration in iTRAK to allow iTRAK users to leverage NSF's existing authentication; integrating SmartPay3 purchase card files within iTRAK to transition NFC from JP Morgan Chase to Citibank; as well as modernizing invoice payments to leverage the Treasury Invoice Processing Platform (IPP), which has allowed the iTRAK investment to greatly reduce the access of NSF staff to the direct system and its reporting platform, thereby reducing the number of help desk tickets and user account management actions required. These efficiencies have enabled additional system enhancements to be implemented, improving iTRAK's ability to continue meeting Federal Financial Standards. In addition, this investment is leveraging robotic process automation for certain routine financial tasks, which will reduce the risk of manual error when entering transactions into the system and in FY 21, iTRAK's infrastructure was moved to the Oracle Cloud to improve performance, reliability, and scalability.
Additional iTRAK investment benefits and planned outcomes are as follows:
- Increase automation and integration between the financial system and NSF's grant management systems
- Expand access to detailed financial information, which will improve reporting capabilities
- Enable greater transparency and compliance
- Reduce manual activities for financial transactions
- Streamline and standardize financial processes
- Increase the efficiency of business processes
- Provide more accurate, timely, and reliable financial information to both internal and external stakeholders
- Strengthen internal controls by providing system edit checks and audit trails for all financial transactions
-Provide science and education grantees with better and more timely financial information to manage their portfolios more effectively
- Provide electronic invoicing services for the vendor community
- Improve data security and security controls through FedRAMP certification and continuous monitoring
Legislative Mandate Improve the effectiveness of the Federal Government's resources through increased transparency and use of Federal spending data.
Digital Accountability and Transparency Act of 2014. Pub. L. No. 113-101, 128 Stat. 1146
Outstanding Audit Finding or Material Weakness - There were a number of minor audit findings for iTRAK, which are tracked in the NSF Agency Plan Of Action and Milestones (POAM).
Published Agency Strategic Plan/Annual Performance Plan - As part of NSF's Strategic Goal to Enhance NSF's performance of it's mission through improved agency operations, NSF financial system, iTRAK, provides system controls, streamlined and standardized processes to ensure consistency and quality of data; and managerial reports and tools to support directorates in making informed decisions about the financial components of the programs they manage.
http://www.nsf.gov/about/performance/strategic_plan.jsp
Presidential Direction (i.e. Presidential Directive, Presidential Memorandum, or Executive Order) N/A
Other Requirement - N/A
Additional iTRAK investment benefits and planned outcomes are as follows:
- Increase automation and integration between the financial system and NSF's grant management systems
- Expand access to detailed financial information, which will improve reporting capabilities
- Enable greater transparency and compliance
- Reduce manual activities for financial transactions
- Streamline and standardize financial processes
- Increase the efficiency of business processes
- Provide more accurate, timely, and reliable financial information to both internal and external stakeholders
- Strengthen internal controls by providing system edit checks and audit trails for all financial transactions
-Provide science and education grantees with better and more timely financial information to manage their portfolios more effectively
- Provide electronic invoicing services for the vendor community
- Improve data security and security controls through FedRAMP certification and continuous monitoring
Legislative Mandate Improve the effectiveness of the Federal Government's resources through increased transparency and use of Federal spending data.
Digital Accountability and Transparency Act of 2014. Pub. L. No. 113-101, 128 Stat. 1146
Outstanding Audit Finding or Material Weakness - There were a number of minor audit findings for iTRAK, which are tracked in the NSF Agency Plan Of Action and Milestones (POAM).
Published Agency Strategic Plan/Annual Performance Plan - As part of NSF's Strategic Goal to Enhance NSF's performance of it's mission through improved agency operations, NSF financial system, iTRAK, provides system controls, streamlined and standardized processes to ensure consistency and quality of data; and managerial reports and tools to support directorates in making informed decisions about the financial components of the programs they manage.
http://www.nsf.gov/about/performance/strategic_plan.jsp
Presidential Direction (i.e. Presidential Directive, Presidential Memorandum, or Executive Order) N/A
Other Requirement - N/A