Summary GFEBS Overview/GFEBS Essentials Notes, Quizzes- Distinction level solution guide

Welcome to the GFEBS Overview lesson. In this lesson, we begin to answer many of the most frequently asked questions about GFEBS. First, what is the General Fund Enterprise Business System, or GFEBS, as it is commonly referred? GFEBS is a decision-support tool that provides reliable data to better enable Army leaders to make decisions in support of the war fighting capability. In addition, GFEBS provides: • Financial, asset, accounting, and cost data • Leaders and managers with new data to transform the Army to a cost management culture • An Army-wide solution across the three components (Active Army, Army National Guard, and the Army Reserve) GFEBS is an Enterprise Resource Planning (ERP) solution built on Systems, Applications & Products in Data Processing (SAP) which is a commercial off-the- shelf (COTS) system. Ultimately, GFEBS provides the information that Army leadership needs to make decisions that support the war fighter mission. GFEBS supports the entire Army, including all components and commands. It provides the necessary financial information as it relates to all aspects of the Army's General Fund. It also helps the Army train, sustain, and equip Soldiers by providing timely relevant financial information. Approximately one million transactions a day are processed in GFEBS. Click on the four numbers below to learn more. In addition to the congressional mandate, GFEBS has been implemented to achieve the requirements mandated by the Business Transformation Agency (BTA). The requirements mandated that GFEBS: •Provide modern financial capability to support the modular, joint, and expeditionary Army. •Support timely, reliable, and accurate financial data for decision making. •Replace legacy systems and processes that prevent reliable execution. •Comply with laws and regulations. GFEBS meets the needs of these requirements and brings the Army into a brand new way of doing business. The GFEBS solution provides many benefits over legacy systems. Overall, GFEBS has minimized the complexity and inefficiencies of the legacy financial information environment by replacing 80% of the overlapping and redundant systems. It provides a single source for Army financial management information. More specifically, as a result of GFEBS, the integration of financial information allows for direct charge of intra-Army payments, funds tracking, budget and execution, internal controls, and much more. Click through the list of benefits before continuing. GFEBS strategically supports and improves the current Department of Defense (DoD) Business Enterprise Architecture by providing functionality that supp