San Diego based INDUS Technology, Inc. and its teammate IBM Business Solutions announced today that they were awarded a sole source contract by SPAWAR for Financial Improvement Process initiative. The INDUS team will be tasked to provide SPAWAR’s comptroller department with financial analysis, accounting process documentation and audit services.

The Assistant Secretary of the Navy’s mandated Financial Improvement Plan (FIP) requires all US Navy commands, activities, and field support activities to pass an extensive audit by 1 Oct 2006. This effort requires significant work in analyzing current accounting methods and procedures, supporting accounting software systems, the development of recommendations for improvement, and the development and execution of the improvements. This contract requires a significant amount of CPA and Auditor experience, and INDUS chose IBM to be our partner in this exciting initiative. IBM Business Solutions, formally Price Waterhouse Cooper, brings an extensive amount of experience in high level accounting to the team, and we look forward to beginning a successful teaming relationship with IBM.

This contract, the first Service Disabled Veteran Owned Small Business (SDVOSB) for INDUS Technology, has an initial period of performance through 30 June 2006, with follow-on work expected. This is a Cost Plus Award fee contract and is incrementally funded based on the phased approach of FIP. Jim Lasswell, President and CEO of INDUS, commented, “We are truly excited by the news of INDUS’ award of our first SDVOSB contracts and developing our new business relationship with IBM Business Solutions. This award continues the legacy of our founder Kathy Sridhar and the achievements of the INDUS Team, our commitment to our employees and our dedication to customer service.

INDUS Technology, Inc. is the premier, nationally recognized provider of quality professional services for industry and government. INDUS is a provider of Communications, Command & Control and Computer systems engineering, Information Technology, Modeling and Simulation, Program Management, Financial, and Contracts and Administrative services to the Department of Defense and other government agencies.