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Air Force signs multimillion-dollar deal with Accenture

IT company lands five-year contract to build and manage accounting systems.

Accenture has won a $79 million, five-year contract with the U.S. Air Force to build and manage its accounting systems. Under the deal, the IT company will implement a Oracle system with help from Deloitte Consulting, Grant Thornton, IBM and Lockheed Martin.

The Defense Enterprise Accounting Management System, or DEAMS, is a pilot scheme between the Air Force and the U.S. Transportation Command designed to bring transparency into the organizations' financial practices. DEAMS is aimed at giving external auditors a bird's-eye view of budgeting, accounting and performance management.

Dan Ilett of reported from London.