CLOUD - BASED MODERN ENTERPRISE RESOURCE PLANNING ( ERP ) SOLUTION

2026-11-03

1 . Transform Financial Management Through Standardization , Best Practices , and Strategic Alignment through a Single Statewide ERP system . To drive statewide financial excellence by standardizing and harmonizing core financial management processes across all agencies . State Financial Modernization will incorporate industry best practices to enhance consistency , transparency , and operational efficiency , while allowing for statutory exceptions as needed . By minimizing manual and off - system workarounds , spreadsheets , and shadow systems , we aim to strengthen data integrity , support informed decision - making , and position the organization for scalable , future - ready financial management operations . 2 . Drive Statewide Financial Management Transparency and Compliance . To enable statewide financial transparency and accountability by delivering a single source of truth for financial data and processes across all agencies . The ERP system will provide real - time visibility into financial operations and interfacing systems , ensuring compliance with Generally Accepted Accounting Principles ( GAAP ), Governmental Accounting Standards Board ( GASB ) standards , State statutes , and federal grant reporting requirements . State Financial Modernization will strengthen fiscal governance , support data - driven decision - making , and enhance public trust through consistent , accurate , and timely financial reporting . 3 . Enable a Scalable , Event - Driven Integration Infrastructure with Open Standards and Modular ERP Architecture . Implement a cloud - based modular ERP architecture that supports modern integration patterns , including API - first design , event - driven messaging , and service - oriented interoperability . The system will enable seamless , bi - directional data exchange with both external and internal systems through standardized protocols and open data formats , ensuring extensibility , scalability , and avoiding vendor lock - in

Maryland

2026-05-02