We are pleased to announce another important accomplishment for the Federal Electronic Records Modernization Initiative (FERMI). Our partners at GSA recently issued two new Product Service Codes (PSC) for records management:
- PSC R616 – Physical Records Management Services
- PSC R617 – Electronic Records Management Service
These PSCs align with the GSA Schedule 36 Special Item Numbers for Physical (51-504) and Electronic (51-600) Records Management, which incorporates the Universal Electronic Records Management Requirements. They will allow agencies to better track spending on government contracts for records management and provide more transparent public reporting on USASpending.gov.
What is a Product Service Code?
Product service codes are assigned to every contract purchasing materials and services by Federal agencies in order to track spending. The PSCs are critical for government leadership to understand how federal dollars are spent and to help determine how much money is being spent on specific products or services. The PSCs are also used to study existing trends in federal spending; report on international agreements; analyze regulatory burden; and reflect changes in technology and terminology. Agencies select PSCs in the Federal Procurement Data System (FPDS) when loading contract awards.
For more information about the new PSCs or FERMI, please contact RMPolicy@gsa.gov.