General Dynamics Unit Gets $306 Million Contract From Veterans Benefit Administration

By Chris Wack

General Dynamics said Thursday that its information technology unit received a file conversion services task order under the Veterans Intake, Conversion and Communication Services program by the Department of Veterans Affairs' Veterans Benefit Administration.

The company said the single award under the VICCS indefinite-delivery, indefinite-quantity contract is valued at $306 million over five years.

Under the task order, General Dynamics Information Technology will use managed services and artificial intelligence to digitally convert historical veteran records, automate data extraction of existing records and process official military personnel file requests in support of veteran benefits claims processing.

General Dynamics Information Technology will also accelerate the modernization of legacy veteran records by deploying new digital capabilities and artificial intelligence to automate routine tasks. In addition to improving services for veterans, these solutions will increase cost savings and efficiency to the VBA.

On Thursday, Barclays cut its price target for General Dynamic shares to $165 from $170 a share, while maintaining its overweight recommendation.

Write to Chris Wack at [e-mail]

(END) Dow Jones Newswires

October 01, 2020 14:09 ET (18:09 GMT)

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