DOE's OCFO Spends $2.77M on Workiva for Financial Reporting Automation
Contract Overview
Contract Amount: $2,765,999 ($2.8M)
Contractor: Carahsoft Technology Corp
Awarding Agency: Department of Energy
Start Date: 2025-03-24
End Date: 2027-03-23
Contract Duration: 729 days
Daily Burn Rate: $3.8K/day
Competition Type: FULL AND OPEN COMPETITION
Number of Offers Received: 1
Pricing Type: FIRM FIXED PRICE
Sector: IT
Official Description: WORKIVA - FINANCIAL REPORTING AUTOMATION & SUPPORT PROJECT FOR THE OFFICE OF THE CHIEF FINANCIAL OFFICER (OCFO). OCFO IS PROCURING AN AUTOMATED FINANCIAL REPORTING SOLUTION, IN ONE SECURE AND CENTRALIZED SYSTEM, TO AUTOMATE AND TRACK DATA REQU
Place of Performance
Location: WASHINGTON, DISTRICT OF COLUMBIA County, DISTRICT OF COLUMBIA, 20585
Plain-Language Summary
Department of Energy obligated $2.8 million to CARAHSOFT TECHNOLOGY CORP for work described as: WORKIVA - FINANCIAL REPORTING AUTOMATION & SUPPORT PROJECT FOR THE OFFICE OF THE CHIEF FINANCIAL OFFICER (OCFO). OCFO IS PROCURING AN AUTOMATED FINANCIAL REPORTING SOLUTION, IN ONE SECURE AND CENTRALIZED SYSTEM, TO AUTOMATE AND TRACK DATA REQU Key points: 1. Workiva's financial reporting solution aims to centralize and automate data tracking for the OCFO. 2. Carahsoft Technology Corp is the contractor, awarded through full and open competition. 3. The contract value is $2.77 million over a 729-day period. 4. This project falls under the Software Publishers NAICS code (511210).
Value Assessment
Rating: good
The contract value of $2.77 million for a 729-day period appears reasonable for a comprehensive financial reporting automation solution. Benchmarking against similar enterprise software deployments for government agencies would provide a more precise assessment.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The contract was awarded through full and open competition, suggesting a robust price discovery process. This method generally leads to more competitive pricing as multiple vendors have the opportunity to bid.
Taxpayer Impact: The use of a competitive process is positive for taxpayers, as it is intended to secure the best value and price for the government's needs.
Public Impact
Improved accuracy and efficiency in financial reporting for the Department of Energy's OCFO. Potential for reduced manual effort and errors in data aggregation and analysis. Centralized system may enhance data security and accessibility for authorized personnel. Long-term cost savings through automation and streamlined processes.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Potential for vendor lock-in with a specific financial reporting platform.
- Risk of integration challenges with existing DOE financial systems.
- Need for robust training and change management to ensure user adoption.
Positive Signals
- Awarded via full and open competition, indicating competitive pricing.
- Firm fixed price contract provides cost certainty.
- Long-term contract duration allows for sustained benefits.
Sector Analysis
The IT sector, specifically software publishers, is characterized by rapid innovation and evolving solutions. This contract for financial reporting automation aligns with government-wide efforts to modernize IT infrastructure and improve data management capabilities.
Small Business Impact
While Carahsoft Technology Corp is the prime contractor, the data does not specify the extent of small business participation in the subcontracting plan. Further analysis would be needed to determine the impact on small businesses.
Oversight & Accountability
The contract is managed by the Department of Energy's Office of the Chief Financial Officer, indicating direct oversight by the agency's financial leadership. The firm fixed price structure provides a degree of financial accountability.
Related Government Programs
- Software Publishers
- Department of Energy Contracting
- Department of Energy Programs
Risk Flags
- Integration complexity with existing systems
- User adoption and training effectiveness
- Long-term vendor viability and support
- Data migration challenges
- Scope creep leading to cost overruns
Tags
software-publishers, department-of-energy, dc, delivery-order, 1m-plus
Frequently Asked Questions
What is this federal contract paying for?
Department of Energy awarded $2.8 million to CARAHSOFT TECHNOLOGY CORP. WORKIVA - FINANCIAL REPORTING AUTOMATION & SUPPORT PROJECT FOR THE OFFICE OF THE CHIEF FINANCIAL OFFICER (OCFO). OCFO IS PROCURING AN AUTOMATED FINANCIAL REPORTING SOLUTION, IN ONE SECURE AND CENTRALIZED SYSTEM, TO AUTOMATE AND TRACK DATA REQU
Who is the contractor on this award?
The obligated recipient is CARAHSOFT TECHNOLOGY CORP.
Which agency awarded this contract?
Awarding agency: Department of Energy (Department of Energy).
What is the total obligated amount?
The obligated amount is $2.8 million.
What is the period of performance?
Start: 2025-03-24. End: 2027-03-23.
What is the expected return on investment (ROI) for this financial reporting automation project?
The expected ROI is not explicitly stated but can be inferred from potential cost savings through reduced manual labor, fewer errors, and improved efficiency in financial reporting processes. Quantifying these benefits over the contract's duration and comparing them to the $2.77 million investment will be crucial for assessing the project's financial success.
What are the key performance indicators (KPIs) to measure the success of the Workiva solution?
Key performance indicators should focus on metrics such as the reduction in time to generate financial reports, the decrease in reporting errors, the level of user adoption and satisfaction, and the successful integration with other financial systems. Establishing baseline metrics before implementation will allow for a clear measurement of improvement.
How will the Department of Energy ensure data security and compliance with financial regulations within the Workiva platform?
The Department of Energy will likely implement stringent security protocols, access controls, and regular audits to ensure data security and compliance. Workiva's platform capabilities, combined with DOE's internal policies and adherence to relevant financial regulations (e.g., FISMA, NIST standards), will be critical for maintaining a secure and compliant environment.
Industry Classification
NAICS: Information › Software Publishers › Software Publishers
Product/Service Code: IT AND TELECOM - INFORMATION TECHNOLOGY AND TELECOMMUNICATIONS › IT AND TELECOM - APLLICATIONS
Competition & Pricing
Extent Competed: FULL AND OPEN COMPETITION
Solicitation Procedures: SUBJECT TO MULTIPLE AWARD FAIR OPPORTUNITY
Offers Received: 1
Pricing Type: FIRM FIXED PRICE (J)
Evaluated Preference: NONE
Contractor Details
Address: 11493 SUNSET HILLS RD, RESTON, VA, 20190
Business Categories: Category Business, Corporate Entity Not Tax Exempt, Not Designated a Small Business, Special Designations, U.S.-Owned Business
Financial Breakdown
Contract Ceiling: $7,864,108
Exercised Options: $2,859,676
Current Obligation: $2,765,999
Actual Outlays: $1,377,999
Contract Characteristics
Commercial Item: COMMERCIAL PRODUCTS/SERVICES
Parent Contract
Parent Award PIID: 47QSWA18D008F
IDV Type: FSS
Timeline
Start Date: 2025-03-24
Current End Date: 2027-03-23
Potential End Date: 2030-09-23 00:00:00
Last Modified: 2026-04-08
More Contracts from Carahsoft Technology Corp
- Current Sources of Income and Employment Verification Service (CSI) — $465.0M (Department of Health and Human Services)
- Current Sources of Income and Employment Verification — $368.5M (Department of Health and Human Services)
- Usda Disc Enterprise Wide Salesforce Software&support Services — $294.8M (Department of Agriculture)
- This Delivery Order Will Provide Commercial OFF the Shelf Brand Name SAP Enterprise Resource Planning Software Licenses, Tightly Integrated Dependent Third Party Software Licenses, and Associated Maintenance — $240.7M (Department of Defense)
- Initial Order OFF Idiq Contract W519tc23d0005 for Service NOW Licenses — $204.3M (Department of Defense)
Other Department of Energy Contracts
- Federal Contract — $48.1B (Lockheed Martin Corp)
- ,Ct::igf Contract Award De-Na0003525 to the National Technology&engineering Solutions of Sandia, LLC (ntess) for the Management and Operation of the Department of Energy, National Nuclear Security Administration's Sandia National Laboratories (SNL) — $41.7B (National Technology & Engineering Solutions of Sandia, LLC)
- Management and Operation of the OAK Ridge National Laboratory — $40.8B (Ut-Battelle LLC)
- TAS::89 0240::TAS This Performance-Based Management Contract (pbmc) IS for the Management and Operation of the Lawrence Livermore National Laboratory (llnl). the Contractor Shall, in Accordance With the Provisions of This Contract, Accomplish the Missions and Programs Assigned by the U.S. Department of Energy (DOE) and Manage and Operate the Laboratory. the Laboratory IS ONE of Does Office of Defense Program Multi-Program Laboratories. the Laboratory IS a Federally Funded Research and Development Institution (established in Accordance With the Federal Acquisition Regulation (FAR) Part 35 and Operated Under This Management and Operating (M&O) Contract, AS Defined in FAR 17.6 and Dear 917.6 — $40.8B (Lawrence Livermore National Security, LLC)
- M&O of Lanl BR of U of CA — $35.3B (Regents of the University of California, the)