FORT LAUDERDALE, Fla. and NEW ORLEANS, July 30, 2012 /PRNewswire-iReach/ -- IT Strategies Group (ITSG), an information technologies and software development company, most famous for inventing the patent pending cloud-based enterprise software suite known as the "Oil Claim Calculator," today announced that its long awaited Causation Test Module is open for business.
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The Oil Claim Calculator® is a time-saving, revolutionary software tool that allows BP Oil Spill Claims 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. This software is a must have for any professional services firm that helps the affected, such as law firms, accounting firms, and claims preparation firms.
"A lot of our clients who used the Oil Claim Calculator back when the GCCF was in place were confused by the 1,000 plus pages of the new Settlement Agreement that came out June 4, 2012 that must now be followed. The Oil Claim Calculator brings clarity and uniformity by properly applying the methodologies of the 1,000 plus pages of the new Settlement Agreement so we can all help the affected. Not only does this save a significant amount of time and cost; it helps get businesses and lives back on track by enabling more claims to be filed and hopefully settled for the affected," said Craig Sienema, VP of Operations for ITSG and the Oil Claim Calculator.
The Oil Claim Calculator's Causation Test Module will allow our clients to:
- Perform Presumptive and V-Shaped Upturn and Downturn Causation Tests for Business Economic Loss Claims in seconds once the claim file is entered into the Oil Claim Calculator
- Generate a standardized and accepted claim report that includes all pertinent claim information as well as financial exhibits including Schedule 2(Revenue Steam Worksheet with Step 1, Step 2, Benchmark Calculations), Schedule 3(Variable Cost Worksheet), Schedule 4(Payroll Worksheet), and now our exciting new addition, Exhibit C, the V-Shaped Revenue Pattern Causation Test.
- All Oil Claim Calculator algorithms are in compliance with the rules and guidelines of the Deepwater Horizon Settlement Authority
- Standardize on a platform that promotes data integrity by providing accurate and credible claim calculations in an easy-to-read and easy-to-submit Claim Report for each client file.
- Improve the efficiency of the claim calculation process by providing instant access to high quality data; and allow editing of data and reports to suit individual claim circumstances.
The Oil Claim Calculator® was designed from the ground up by the engineering team at IT Strategies Group and tailored to the needs of those affected by the Deepwater Horizon Oil Spill and the legal, accounting, and claims professionals that support them. This problem solving, ground-breaking enterprise software is the only automated solution on the market for oil spill claims calculations. As a proven tool for calculating oil spill claims in a credible and time effective fashion, the Oil Claim Calculator® has been used for thousands of clients and calculated hundreds of millions of dollars in claims that resulted in successful settlement awards. Also, stay tuned for the upcoming release of our new modules on these dates: Individual Economic Loss Claim Module on August 1, Seafood Compensation Module on August 15, VoO Charter Module on August 28, and the Startup/Failed Businesses Module on September 15.
About IT Strategies Group
ITSG is a privately held company that has over 25 years of experience in technological developments and specialized areas of computing, including the very latest in Applications & Software Design, Storage & Disaster Recovery, Virtualization & Cloud Computing, Security & Compliance, Network Infrastructure & Design, Managed Services, and Unified Communications & Data Center. IT Strategies Group is most famous for inventing the patent pending Oil Claim Calculator®. 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 Twitter at www.twitter.com/OilClaimCalcula
Media Contact: Emily Guillini, IT Strategies Group & Oil Claim Calculator, +1-561-285-1092, eguillini@itstrategiesgroup.com
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SOURCE IT Strategies Group & Oil Claim Calculator
