SOURCE: M Squared Consulting, Inc.

June 22, 2005 07:00 ET

M Squared Consulting Changes Consultant Billing Subsidiary Name to Collabrus and Adds New Services

Revamped Subsidiary Meets Immediate Market Needs Around Independent Contractor Compliance and Mitigates Co-Employment Risk

SAN FRANCISCO, CA -- (MARKET WIRE) -- June 22, 2005 -- M Squared Consulting, Inc., an industry pioneer in human capital management and leading national provider of independent business consultants (www.msquared.com), today announced the renaming of its Consultant Billing Inc. subsidiary to Collabrus Inc. and outlined new Collabrus services. Collabrus complements M Squared's expertise in matching senior level consultants to client business needs by providing premier consultant employment and payroll programs; consolidated consultant billing; consultant management programs; and compliance services. These services help clients manage tax and co-employment risks, helping to ensure an organization's consultant workforce is paid and managed in accordance with federal and state regulations.

"We changed the name to Collabrus to evoke a sense of collaboration with our clients and consultants and to better illustrate the breadth and range of our consultant payroll and consultant management services," stated Marion McGovern, president and CEO of M Squared. "As Collabrus started to grow and client projects became more sophisticated, we needed to offer more than payroll and billing services. Additionally, with Sarbanes-Oxley and the Patriot Act, companies need to have controls in place when it comes to consultants on payroll and need to ensure they are being paid in the proper manner. Collabrus ensures companies are compliant."

"With Sarbanes-Oxley and the Patriot Act, there is definitely a sense of compliance in the air," stated Dorinda Parker, vice president and general manager, Collabrus. "We've created a broad suite of services that can be customized to meet the unique needs of each customer, organization or independent consultant. We provide cost-effective programs that help ensure compliance and adherence to the many mandated regulations."

Additionally, Collabrus offers consultants a suite of benefits uniquely designed for the senior consultant workforce, which include 401(k) matching, pre-tax savings with an accountable plan, long-term disability and errors and omissions insurance. Collabrus designs these payroll services and benefits programs for independent consultants on projects found through M Squared or other sources.

Collabrus Service Offerings

For Organizations:

--  Payroll Programs:  Comprehensive customizable employment programs to
    properly on-board consultants including background checks, due diligence,
    pay & benefits solutions and project management resources.
    
--  Compliance Services:  Programs, tools and training to ensure proper
    worker classification and payment consistent with IRS guidelines.
    
--  1099 Programs:  Compliance files, consolidated billing, 1099 tax
    reporting and consultant reporting and tracking.
    
--  Collabrus Consulting:  Customized consultant management service
    programs.
    
For Independent Consultants
--  Payroll Programs:  Pay, billing and benefit services for senior level
    independent consultants who seek an Employer of Record or a premier payroll
    and benefits program that is transportable from project to project.
    
For more information on Collabrus, please visit www.collabrusinc.com.

About M Squared Consulting, Inc.

Headquartered in San Francisco, M Squared is a specialty consulting firm that meets the needs of its clients by utilizing its proprietary network of independent consultants. Clients range from new businesses to Fortune 100s. M Squared consulting engagements and interim management assignments span the key business functions of top management, finance, marketing, operations, human resources and information technology. For more information, visit www.msquared.com.

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