Jason Miller at FCW has just published an article providing some very interesting details about progress towards fulfilling the requirements of FFATA, such as: 

By July 31, DOD expects to begin testing the technology behind what OMB officials hope will be a foundation for a permanent federal spending database. Using lessons learned and technology from DOD’s Maritime Domain Awareness Community of Interest, DOD will apply Web services to create a portal for integrating the General Services Administration’s Federal Procurement Data System-Next Generation (FPDS-NG) and various DOD spending databases. 

There are also short-term measures being taken, syphoning data from FAADS into a new system that will meet the January legislative requirements.