The move will enable CalSTRS to streamline processes and adopt best practices to provide decision makers more accurate data and reduce operational risk for the 852,000 public school teachers served by the organization.
In what is projected to be a 24-month engagement, CIBER will install SAP applications to modernize CalSTRS systems for financial reporting and general ledger, accounts payable and accounts receivable, cash management, budgeting, taxes and procurement. “The new solution will allow the pension fund organization to become one of the most competitive financial firms in the industry,” said Tom Augustine, director, SAP Practice, CIBER.
“Modernizing our systems will give us access to more accurate and timely data, thereby improving our decision-making ability,” said Jack Ehnes, chief executive officer, CalSTRS. “The new solution also puts more useful and pertinent data in the hands of staff and business partners to help them more effectively manage resources and mitigate operational risk.”
Additionally, the solution automates a number of previously manual processes, improving efficiency and operating costs for CalSTRS.
“With this implementation, CIBER becomes a prime partner in helping CalSTRS transform back-office systems and operations to better serve and support this world-class pension organization,” Augustine added.
CIBER is an SAP gold channel partner, an SAP hosting partner and an SAP services partner. Since CIBER started supporting SAP solutions in 1989, it has won more than 2,000 satisfied SAP customers, and the skills and experience to assist customers with all aspects of their SAP software implementations.
About CIBER, Inc.
CIBER, Inc. (ciber.com) is a global informtion technology consulting, services and outsourcing company applying practical innovation through services and solutions that deliver tangible results for both commercial and government clients. Services include application development and management, ERP implementation, change management, project management, systems integration, infrastructure management and end-user computing, as well as strategic business and technology consulting. Founded in 1974 and headquartered in Greenwood Village, Colorado, CIBER has more than 8,500 employees and operates in 19 countries, serving clients in North America, Europe and Asia/Pacific. Annual revenue in 2010 was $1.1 billion. CIBER trades on the New York Stock exchange (NYSE: CBR), and is included in the Russell 2000 Index and the S&P Small Cap 600 Index.
The California State Teachers' Retirement System is the largest teacher pension fund and the second largest public pension fund in the United States. CalSTRS administers a hybrid retirement system, consisting of a traditional defined benefit, cash balance and defined contribution plans, as well as disability and survivor benefits. CalSTRS serves California's 852,000 public school educators and their families from the state's 1,600 school districts, county offices of education and community college districts.