Compliance Monitoring: Federal Contracts
B–Three Solutions has managed a number of projects for a large firm that is under contract with the Federal Government to perform background investigations and other security services. Because they engage in federal contracts larger than $2500, the client firm is mandated to follow specific pay practices. Our developers have created systems that monitor the client’s pay practices and report SCA (Service Contract Act) compliance.
B–Three implemented software that integrates with an ERP system and the ADP payroll system to validate compliance. The project involved four departments: Payroll, Human Resources, Finance, and Business Contracts. Completion of the project produced an immediate and measurable benefit to the client — approximately $1.5 million per quarter — and eliminated months of manual processing.
The SCA compliance system has now been extended, with a payroll application that determines the prevailing wage for the employee’s job category and county of residence. The application produces a pay stub that demonstrates SCA compliance by comparing the appropriate prevailing wage to the employee’s actual rate of pay.
To ensure the firm’s compliance with the Sarbanes–Oxley legislation, we also automated all the procedures required to calculate Sarbanes–Oxley data. This processing is now fully documented and auditable by regulators. The database was documented in a similar manner.
Financial Web Portal
In addition to compliance-related projects, B–Three developed a financial web portal built on an Oracle database, enabling the firm’s executives to view a daily cash reporting system. B–Three integrated with multiple banking systems to automate the reporting system, eliminating manual tasks that had taken up to eight hours per day to complete.