Financial and Business Solutions - LEGACY (FABS)

The General Services Administration established the Financial and Business Solutions - LEGACY Master GSA Schedule on November 1, 1995, and is phasing it out in favor of The Professional Services Schedule (PSS). Orders may still be placed under FABS through October 30, 2106, though the vehicle is no longer accepting new contractor awards. The 4,856 task orders issued since April 1998 have obligated $7.27 billion of the combined potential value of $8.45 billion (86% utilization), though ordering momentum has declined sharply—from 107 orders per year in 2018 to 28 in 2022, the most recent year on record.

Work contracted under FABS focuses almost entirely on financial audit services: incurred cost audits, forward pricing rate audits, accounting system audits, cost proposal audits, and audit readiness support. Recent task orders show Department of Energy dominance, with orders for audits of contractor and M&O partner incurred costs at DOE field offices and national laboratories, alongside audit engagements from the Department of Labor Office of Inspector General.

Kpmg LLP and Logistics Management Institute dominate the vehicle. The top five primes—Kpmg LLP (693 orders, $2.47 billion potential value), Logistics Management Institute (1,217 orders, $1.68 billion), Deloitte & Touche LLP (525 orders, $777.6 million), Ernst & Young LLP (207 orders, $603.8 million), and Grant Thornton LLP (273 orders, $515.8 million)—hold 72 percent of combined potential value. The remaining 59 awardees capture 28 percent, with smaller regional and specialty audit firms holding scattered orders. Nearly all task orders (4,815 of 4,856) carry no set-aside designation; small business awards number only 26 across all categories.

Customer concentration is moderate. The Department of Homeland Security US Coast Guard, Department of Energy Office of Environmental Management, Department of Transportation, Defense Logistics Agency, and GSA Public Buildings Service collectively account for only 12 percent of orders, indicating dispersed demand across 411 agencies. Task orders range from under $25,000 to approximately $8.6 million in ceiling value, with typical durations of 12 to 24 months. Most awards use Time and Materials or Firm Fixed Price pricing; Labor Hours pricing appears in roughly 20 percent of recent orders.

Because GSA no longer awards new contracts under FABS and orders expire as issued, pursuit of this vehicle is strategically limited to incumbents maintaining existing BPA calls. Contractors without established positions should target PSS instead.

This is the summary page for contract activity under the LEGACY Schedule 520 Master Federal Supply Schedule for Financial and Business Solutions (FABS). GSA is no longer awarding new Federal Supply Schedule contracts under this vehicle as it is being phased out. Services formerly procured under FABS are being transitioned to The Professional Services Schedule (PSS), also referred to as 00CORP or The Consolidated Schedule. Delivery order activity under this vehicle may continue until all of the vendor-level Federal Supply Schedule contracts, and the delivery orders themselves, have expired. Contract activity contained under this LEGACY vehicle is for companies that did not move over to PSS, or that did move over to PSS but did so under a new contract number. Services procured under this schedule included various financial, accounting, audit, risk analysis, and other financial and business services/solutions.