RESTON, Va., July 12, 2016 /PRNewswire/ -- The Naval Supply Systems Command (NAVSUP) awarded The Joint Staff (TJS) Enterprise Business Accountability System (EBAS) Support contract for $29 million to TeraThink Corporation. TeraThink competed against multiple, large system integrators, including the 15 year incumbent, to win this contract. EBAS is a Momentum-based Enterprise Resource Planning (ERP) system that serves as TJS primary budgeting and financial system. Thomas Byers, TeraThink's Senior Vice President for Defense and National Security Business Unit, states, "We are excited for the opportunity to support The Joint Staff's critical mission by helping to improve financial visibility and compliance, streamline business operations, and modernize their business systems infrastructure."
Under this contract, TeraThink will provide program management and systems integration support for Momentum, Approva Governance, Risk, and Compliance (GRC), and Invoice Processing Platform (IPP) solutions, in addition to examining cloud hosting options. This five-year contract allows TeraThink to support The Joint Staff in areas of budgeting and issuance of funds across the COCOMS, as well as monthly reporting and reconciliation of funds. A key component of TeraThink's financial system success story is its experience implementing GRC solutions to facilitate auditable environments for its government customers. "TeraThink's speed-to-capability deployment demonstrates how a proven GRC solution will help support audit readiness efforts, reduce the risk of fraud all through an attainable and cost effective approach," says Paul Lombardi, TeraThink CEO and President.