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Meet Robert Sheen of First Capitol Consulting in Wilshire Boulevard

Today we’d like to introduce you to Robert Sheen.

First Capitol Consulting, Inc. (FCCI) is a data and analytics company that offers HR, tax, regulatory compliance, and business intelligence services. We use our expertise to help our clients obtain tax savings and avoid penalties to improve their cash flow and increase access to capital.

Overall, has it been relatively smooth? If not, what were some of the struggles along the way?
I grew up in LA. After graduating from USC with a degree in business administration and Loyola Law School, I joined KPMG. I specialized in corporate reorganization, mergers and acquisitions, and multi-state tax product development and implementation. In 1998, I joined BDO Seidman, LLP, to lead its Los Angeles state and local tax practice. These experiences provided me with the foundation to start FCCI in 1999.

The original focus of the company was to use HR data to create a tax credit and incentive practice. To support FCCI’s tax services, we created proprietary software in a strategic relationship with Intuit. I’m fascinated by technology and how it can make our lives more productive. Through that experience, I saw first-hand the advantages of developing your own software platform.

As my team and I came in contact with various HR information systems used by our FCCI clients, we found them to be stagnant platforms with limited coordination and functionality.

We saw an opportunity to create a better way to capture and consolidate workforce data that would have broader business applications. Our solution was Humanefits.

With Humanefits, we’ve developed a tech platform that provides the functionality of traditional automated HR information systems, but with greater capabilities to seamlessly consolidate, cleanse and validate HR data to generate tax savings through tax credits, create greater efficiencies for complying with regulatory requirements to help companies avoid financial penalties, and provide business intelligence to make their operations more effective. We also developed Humanefits with economies of scale in mind. This allows us to offer uniform pricing, and, through products like Humanefits for QuickBooks Online, provide small businesses with the same level of sophistication that is provided to larger companies.

Alright – so let’s talk business. Tell us about First Capitol Consulting, Inc. – what should we know?
FCCI provides audit ready work to assist businesses – from single-location sole proprietorships to Fortune 500 companies – in successfully obtaining tax credits and incentives through the Work Opportunity Tax Credit (WOTC). This is a great federal program that encourages the employment of disadvantaged workers, such as military veterans and the disabled.

Our national regulatory compliance services help organizations address a variety of regulatory requirements involving healthcare, pay equity, equal opportunity employment, employment eligibility, employment benefits, and worker safety. For example, FCCI is an industry leader in helping large and mid-sized businesses successfully manage requirements of the Affordable Care Act (ACA), achieving a 100 percent compliance rate in filing ACA information with the IRS. We also are offering assistance to companies filing the new-version EEO-1 reports, which adds payroll metrics data for the first time. We believe regulation inspires innovation, and we see regulatory compliance as a growth area.

We now offer all of our clients the use of Humanefits as part of our services, either as an independent system or in conjunction with different types of HR and payroll systems. It has a lot of versatility to meet the specific needs of our clients. For instance, we’re using Humanefits with some businesses to implement an optimal healthcare action plan to help them lower costs for their companies and employees.

What are you most proud of as a brand?
How we have been able to combine innovative science, data analytics, and proprietary technologies that pioneer advances in HR data consolidation, cleansing and validation with our regulatory and tax expertise. This empowers data-driven decision making to optimize client performance around HR services, tax savings, risk management and regulatory compliance, and business intelligence to improve operational efficiency and financial performance. We don’t see any competitors pioneering the advances in data consolidation and analysis that we are.

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