YONGSAN GARRISON, South Korea: Eighth (Field) Army is scheduled to launch a new financial management system next year.
Named the General Fund Enterprise Business System, or GFEBS, the new financial management and asset accounting system is scheduled to be deployed across the U.S. Army in waves. The system will cover a broad range of activities, including budgeting, funding, acquisitions, purchases and asset management and maintenance.
GFEBS should be better than the current system, according to Capt. Kevin M. Linzey from Eighth Army’s Resource Management Directorate.
“Currently, there are about 100 different systems that deal with the money of the Army,” said Linzey. “However, GFEBS is going to be taking over 80 percent of that.”
This system will enable commanders and leaders at all levels to view the status of funding and the cost of operations.
“The new system will help us understand how much we get for every dollar,” said Linzey.
The system is currently being deployed in the United States. The GFEBS program team will visit Korea next month.
Financial specialists will be screened, trained and certified to operate the new system.
