Pyramid News

FOR IMMEDIATE RELEASE (December 20, 2010)

U.S. Department of Housing and Urban Development (HUD), Federal Housing Administration (FHA) Selects Pyramid as IT Service Management Contractor for the FHA Subsidiary Ledger (FHASL), Multifamily Insurance and Claims System

Fairfax, VA, December 20, 2010 – Pyramid Systems Inc. (Pyramid) is pleased to announce that the company has been selected by HUD, Federal Housing Administration (FHA) to provide overall comprehensive systems engineering and technical services for maintenance, development, integration, and operations of the FHA Subsidiary Ledger (FHASL).

FHASL is a complex financial system that is currently supported by PeopleSoft. Approximately 20 other mixed financial and program systems have been integrated with the FHA Subsidiary Ledger to support all of FHA’s insurance servicing and post-insurance financial operations.

Key project objectives include:

• Sustaining the FHA Subsidiary Ledger in support of FHA’s financial operations
  
• Maintaining the capability of the FHA Subsidiary Ledger to produce timely audited financial statements in conformity with generally accepted accounting principles
  
• Maintaining the capability of the FHA Subsidiary Ledger to operate with adequate internal controls
  
• Maintaining compliance with laws and regulations applicable to federal financial management systems
  
• Supporting FHA in responding to oversight, and audit activities involving the FHA Subsidiary Ledger
  
• Adapting the FHA Subsidiary Ledger to meet new regulatory and other high-priority requirements affecting FHA’s financial operations in the future
  
• Supporting FHA’s Office of Systems and Technology in information technology investment management and planning for the Housing portfolio of applications
  

Upon being notified of the award to Pyramid, Elizabeth El-Nattar, company Senior Vice President, commented:

“Pyramid is delighted to win our first contract with the Federal Housing Administration. FHASL is a complex PeopleSoft-based financial management system that is integrated with some 20 other systems in the FHA/HUD environment. Together with our teaming partner AT&T, Pyramid is responsible for standing up and maintaining a comprehensive IT service management organization with broad IT, project support, and consulting responsibilities. We look forward to fully exercising our proven capabilities in software engineering, service and infrastructure management, IT security management, and project management to ensure FHA objectives related to the Subsidiary Ledger systems are met or exceeded.”

About Pyramid Systems, Inc.

Pyramid Systems, Inc. (Pyramid) is a woman-owned small business providing full-service consulting and software engineering solutions to government and commercial clients. The company is a SEI CMMI Maturity Level 3-rated organization, and adheres to documented processes and best practices in delivering and maintaining solutions for clients. Pyramid differentiates itself based on IT thought leadership, responsiveness to the needs and expectations of our clients, and project delivery methods based on best practices. We deliver solutions on-time that meet or exceed client expectations. The company has multiple office locations in the greater Washington, DC metropolitan area. Pyramid maintains the following practice areas: software solutions, CAFM, consulting and advisory services, and business support services.

Point of Contact:
Elizabeth El-Nattar
Senior Vice President
eelnattar@pyramidsystems.com
703-995-0120