Christina Broder, Big4.com Staff Reporter
BearingPoint recently announced that the company has been awarded with a 5-year Blanket Purchase Agreement (BPA). The award was given by USCG (US Coast Guard) for their monetary management support services.
The value of the BPA was $104 million; and follows a similar award for financial services support. This award was given to BearingPoint by Department of Homeland Security’s ICE (Immigration and Customs Enforcement) agency. This award was valued at $47.7 million.
Bearing Point will now work with Office of Financial Transformation and Office of Financial Policy and Systems of USCG. Under BPA, BearingPoint will be allowed to carry out the task orders by assisting the Coast Guard. Their main purpose will be to:
• Develop internal control and offer relevant answers on the financial business procedure.
• Strengthen and intensify the financial reporting methods and policies of the Coast Guard.
• Improve the Coast Guard’s financial management workforce, by developing human resource strategy.
The work is expected to be executed at USCG offices situated in North Carolina California, Maryland, Kansas, Virginia, Washington, D.C and Maryland
This is actually the second financial services support award for BearingPoint within DHS, in the recent times. In March, BearingPoint won an award of a one year contract with a value of $8.7 million in its base year. The value counts to $47.7 million in five years. This award was given to assist ICE with financial management systems.
Based on this contract, BearingPoint is trying to implement newer strategies in consulting services, which includes overall business development, accounts payable accruals, improvement and maintenance of an activity-based costing model, training and effective support for financial data authentication/verification, and effectual support for the Finance Center of ICE situated in Texas and Dallas.
According to Tim Chase, Vice President for BearingPoint, “We’re proud to be chosen by the Coast Guard and by ICE to assist in transforming their financial processes.” He feels that by helping such DHS agencies, the company can formulate better and efficient means to identify criminal activities and eliminate “vulnerabilities along our nation’s borders and coastlines”.