BearingPoint
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BearingPoint, Inc. (Template:Nyse) is one of the world’s largest management consulting, systems integration and managed services firms serving government agencies, Global 2000 companies, medium-sized businesses and other organizations. The firm provides business and technology strategy, systems design, architecture, applications implementation, network infrastructure, systems integration and managed services. Service offerings are designed to help clients generate revenue, reduce costs and access the information necessary to operate their business on a timely basis. Based in McLean, Virginia, BearingPoint has been named by Fortune as one of America’s Most Admired Companies in the computer and data services sector.
The company has defended itself in several court cases concerning allegations of contracting irregularities and disclosures that its officials overstated its profits in 2003.
The most recent case relates to a $240 million USAID contract about assistance in the development of a competitive private sector in Iraq, where according to a federal investigation the job specifications had mostly been written by BearingPoint itself, effectively excluding competitors from the bid.
On January 2, 2003, BearingPoint announced that it had installed and was helping to operate a financial management information system for the government of Afghanistan. The work was part of a $3.95 million contract the company won to help the government upgrade its accounting system.
In March 2003, the state of Florida retracted an $80 million IT outsourcing deal awarded to BearingPoint after complaints by the losing bidders. Critics pointed to the company's close ties to Governor Jeb Bush. On March 23, BearingPoint announced it had been awarded a three-year, $39.9 million contract from the United States Agency for International Development (USAID) to help Afghanistan implement policy and institutional reform measures that will lead to an improved environment for economic development. The agreement includes an option for another two years, for a total award of $64.1 million.