Orchid is on a mission to transform the Compliance EcosystemTM, beginning with the underlying technical infrastructure of the firearms industry
Hartford, CT (PRWEB) January 13, 2014
Orchid Advisors today announces the first Firearms Compliance Solution specifically designed to enhance ATF, Import and Export compliance throughout the entire firearms industry. This is the first commercially available solution that embeds best-in-class business processes, software logic, and real-time monitoring features into modern-day and legacy systems.
“Orchid Advisors ‘Serial Number Control Solution’ specifically enhances SAP’s core serial number control functionality so that it can meet Federal firearm regulations that govern manufacturers, wholesalers and dealers,” says Orchid Advisors CEO Jon Rydberg. He noted ATF’s recent Ruling 2013-5 specifies revised requirements for use of electronic recordkeeping systems. “Our team has been working on a solution that not only anticipated these requirements but will likely set the future benchmark for implementation.”
“Because Orchid’s solution is based on modern process and internal controls, we have leveraged it to various software platforms, including SAP, for multiple clients,” says Danny Briere, President of Orchid’s Technology Consulting practice. “Clearly, members of the firearms industry are Federal Firearms License (FFL) holders who range in size from ‘Mom & Pop’ dealers, to national wholesalers, to global manufacturers. While the announced solution is based on a custom SAP platform, the core design is a one-size-fits-all product that can work within almost every environment.”
The SAP version of Orchid’s core Serial Number Control Solution provides industry leading internal controls that limit the risk of compliance error for millions of annual transactions. The solution has modules designed to integrate with SAP to support Procurement, Import, Production, Assembly, Inventory, Order Management, Shipping and Scrap processes. The system can be deployed across multiple facilities and FFLs.
“We have continually improved our design as we’ve worked with customers,” says Briere, noting as an example the integration of injection molding with software logic to create robust internal control to prevent ghost asset production. “We implemented the Firearm Industry’s first ‘shot-scan-shot-scan’ programmed logic-controlled technology to integrate optical cameras, barcode scanning, and motion-control actuators to ensure that firearms are only acquired at the synchronous point of creation. The objective of this effort was twofold: to ensure that no firearm could ever be created without entry into the A&D book, and that for every acquisition in the A&D an actual, physical firearm was produced – so there is no creation of ghost assets.”
“Orchid is on a mission to transform the Compliance EcosystemTM, beginning with the underlying technical infrastructure of the firearms industry," says Rydberg. “For instance, we are the only consulting firm leveraging Federal Open Data programs to standardize the delivery of regulatory data used by public and private parties. This is about transformation and we are passionate about those Orchid clients that have chosen to be leaders, not laggards, in making compliance a strategic element of their business.”
With this press release, Orchid is also announcing the immediate availability of two best-in-class whitepapers packed with case studies on firearms compliance technical innovation and examples of how “leading clients” are adopting Orchid’s Compliance EcosystemTM methodology.
The following whitepapers − (1) Firearms Industry Compliance – Leading Technologies; and (2) The Firearms Compliance Ecosystem − demonstrate the significant step forward Orchid is making for the industry. These whitepapers can be found at http://www.orchidadvisors.com/publications.
“Orchid Advisors is not so myopically focused like traditional legal and compliance firms,” says Briere. “Given our Big 4 consulting heritage, our methodology encompasses activities that exist throughout the entire supply chain – from suppliers – to manufacturers − to distributors – to retailers – and to end consumers.”
About Orchid Advisors
Orchid Advisors is a strategic management consultancy focused on transforming the worlds of audit and compliance in selected industries. Our initial entry market is the Firearms Industry where Orchid counts among its customers the top firearms manufacturers in the world. Orchid clients hire the firm to help reinvent business processes, implement technology solutions to support that change, and strategically plan and monitor resulting sustainable audit and compliance cultures in their organization. Orchid Advisors bring the depth and breadth of Big Four consulting with the innovation, thought leadership, and economies of a boutique analyst firm. For more information, see http://www.orchidadvisors.com.