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Tech Industry

SAP signs $30 million IRS deal

SAP said Tuesday that it has won a three-year software contract with the U.S. Internal Revenue Service that, if fully realized, could generate $30 million in revenues for the business-applications maker. Under the contract, SAP will provide the tax agency with financial applications for accounting and budgeting. SAP plans to coordinate the project with Computer Sciences Corp., the lead contractor in a massive computer systems modernization project at the IRS.

SAP said the new financial system will help the IRS gather timelier, more accurate financial data about its operations, as mandated by Congress and the Joint Financial Management Improvement Program, a federal campaign to standardize the financial systems of government agencies. The new system will also help the agency, which collects $1.7 trillion in taxes annually, with the tax collection process, SAP said.