Transparent Billing May Save Governments Billions
KMGi Releases Free Solution to Overbilling Problem
NEW YORK, Feb. 29, 2012 /PRNewswire/ -- As the federal, state and local governments struggle to tighten their purse strings, taxpayers are up in arms over news that contractors from coast to coast are bilking government agencies of billions of dollars by overbilling.
And although the headlines might not attract the same notoriety as bank robberies - or the attention of the FBI - the costs of this less conspicuous crime are much higher, threatening critical government spending on infrastructure, education and other essential programs that improve the lifestyles of all Americans.
For example, Oracle Corp., the world's largest software maker, recently agreed to pay the United States government almost $200 million to settle claims that it had overbilled government agencies for the past 9 years.
In 2011, New York Mayor Michael Bloomberg demanded that SAIC refund $600 million overbilled on the CityTime project.
Considering that these are just two isolated instances, the scope of the problem is difficult to overestimate.
Conceived as a way to help reduce corporate and government waste, Transparent Billing is a cloud-based online tool which tracks computer-based work of contractors and telecommuters, capturing screenshots of their computers every 3 minutes and recording detailed information on the work performed and tasks completed. The system eliminates overbilling by tracking jobs from start to finish.
"We intend to save taxpayers billions of dollars by protecting government funds from theft by overbilling, and we make it available to all government agencies, from local to federal, free of charge," said Alex Konanykhin, CEO of KMGi, which developed Transparent Billing, a solution which is quickly becoming a buzzword in accountability.
According to the U.S. Government Accountability Office, the federal government spent $115.3 billion last year in improper payments, and although that figure is down from the $120.6 billion wasted in fiscal year 2010, it's still a number that makes taxpayers fume.
"Over the past decade, GAO has issued numerous reports and testimonies highlighting improper payment issues across the federal government as well as at specific agencies," wrote Beryl H. Davis, GAO Director of Financial Management and Assurance, in a report on year 2011 findings, a good illustration for the urgent need for an effective solution to the problem.
The creation of Transparent Billing, available for all government agencies for free at www.TransparentBilling.com, earned Konanykhin the prestigious 2011 WorldWide IT Visionary Prize from CIO magazine and is likely to make work of the government more transparent and efficient.
About KMGi. Founded in New York in 1997, KMGi (www.kmgi.com) is a pioneering Internet technologies company with clients which include Google, Microsoft, CA, Boeing, Pfizer, DuPont and eBay. KMGi Group includes Intuic (www.Intuic.com), Online Visibility Experts, S.L. (www.OnlineVisibilityExperts.com) and WikiExperts (www.WikiExperts.us).
Photo of Alex Konanykhin, CEO of KMGi:
For more information, contact Silvina Moschini at email@example.com, tel: (866) 864-9238.
SOURCE KMGiBack to top