Last updated on April 24, 2014 at 13:17 EDT

IT Strategies Group’s OilClaim Calculator Software is the Gold Standard for Law Firms, CPAs and Claims Firms with Built-In Fraud Prevention, Data Security, and Data Integrity Measures Included with Every Claim

August 27, 2013

OilClaim Calculator Software Provides Compelling Reasons to Upgrade From Spreadsheets for BP Claims Preparers

FORT LAUDERDALE, Fla., PANAMA CITY, Fla., NEW ORLEANS, MOBILE, Ala. HOUSTON, and BILOXI, Miss., Aug. 27, 2013 /PRNewswire-iReach/ — Any licensed professional that handles sensitive financial information is trained to be mindful of fraud, plan for business continuity, not to obstruct regulatory compliance, and to protect their client’s data. Over 1 year ago, ITSG released the OilClaim Calculator software to upgrade from the outdated and obsolete spreadsheet approach on a desktop computer for these reasons and a lot more that are critical to the integrity of the entire process of filing BP Claims.

(Photo: http://photos.prnewswire.com/prnh/20130827/MN70164)

Everyone had a spreadsheet in Excel or Lotus or other programs over a year ago to calculate these claims on their desktop computer. We would not be in business if we did not provide a simple to use and compelling business software solution. The simple, yet elegant OilClaim Calculator software is THE upgrade from spreadsheets and is essential for licensed CPAs, attorneys, and claims firms that calculate Deepwater Horizon Oil Spill losses,” said Daniel S. Jacobs, VP of Sales for ITSG.

“Submitting a BP claim that was prepared in a spreadsheet is open to fraud and dangerous for a licensed professional. Preparing these claims in Excel or other spreadsheets lacks financial controls and is putting the license at risk of those that use this approach. Since the invention of TurboTax and other cloud-based tax software, you do not see licensed CPAs preparing individual and corporate tax returns in spreadsheets. Clearly, cost is not the only consideration when you are handling and preparing sensitive financial data and attesting to its accuracy before a government agency.

These are a lot of reasons why the top law firms, CPAs and claim firms that prepare BP claims use our software even though it costs more than having Excel on their computer. Every single one of our clients HAD a spreadsheet for calculating these claims before they purchased the OilClaim Calculator software,” said Craig Sienema, VP of Operations for ITSG.

Advantages of Processing BP Claims in ITSG’s Cloud-Based OilClaim Calculator(TM) Software

    --  Very Low Vulnerability to Fraud with Built-in Financial Controls - All
        Formulas and Algorithms are Controlled by ITSG, Locked and Not Editable
        by Users and can Not be Overwritten by copying/pasting/linking numerical
    --  Significant Time Savings with Fully Automated Decision Making for
        Maximum Compensation Every Time to Remove Human Error. Resulted in 7%
        Higher Total Compensation on Average via ITSG internal study of 1,000 BP
    --  SAS70 Compliant (Sorbanes Oxley [SOX] Compliant) and PCI Compliant
    --  Cloud Computing, Ultra-Resilient Architecture with 24x7x365 Active
        Monitoring within a Network Operations and Threat Monitoring Center
    --  Data Secured by Industry-Leading and Government-Grade ProtectPoint
        Hardware and Software Firewall
    --  Not Obstructive to Regulatory Compliance
    --  Client information is Backed up daily in two, encrypted and secure
    --  Satisfactory for Business Continuity with a Single-Data Storage Location
        that is Backed Up Remotely with Encryption

The OilClaim Calculator(TM) software is the only fully automated patent-pending, revolutionary software tool that allows BP Oil Spill Losses to be calculated in a consistent and accurate fashion that outputs a standardized claim report for each file in accordance with the methodologies of the new Settlement Authority per MDL2179 in the Eastern District Court of the USA. This software is a must have for any professional services firm that helps those families and businesses affected by the Deepwater Horizon Oil Spill, such as law firms, accounting firms, and claims preparation firms.

About IT Strategies Group

ITSG a privately held company that has over 25 years of experience in technological developments and specialized areas of computing, including the very latest in Custom Application & Software Design for the insurance, accounting, and legal markets. ITSG is most famous for inventing the OilClaim Calculator((TM)) software that was used to calculate OVER 1 Billion Dollars in Deepwater Horizon Oil Spill claims in excess of 10,000 claimants that were submitted to the court-supervised DHECC. ITSG is headquartered in Fort Lauderdale, Florida. For more information, please contact our sales department at sales@itstrategiesgroup.com, call 1 800 294 0387 or visit the Oil Claim Calculator Home Page at www.oilclaimcalculator.com or follow us on Twitter at https://twitter.com/OilClaimCalcula

*Excel, Lotus, and Turbo Tax are registered marks and owned by their respective registrants

Media Contact: Josh Leidolf, ITSG, 954-271-1264, jleidolf@itstrategiesgroup.com

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SOURCE IT Strategies Group

Source: PR Newswire