From Hours to Seconds: A Tailored Web Audit Sample Calculator That Reduced Manual Work
This is the story of Hartford Consulting, a UK-based financial consultancy that partnered with STX Next to develop the IRS QI Periodic Review Safe Harbor Sample Calculator – a tool that significantly improved efficiency and service quality for its clients.
About Hartford Consulting
Hartford Consulting is a UK-based firm specializing in helping banks, fintechs, payment institutions, and crypto businesses strengthen their defenses against financial crime and meet demanding compliance standards.
With more than 25 years of experience, they provide expertise in KYC processes, suspicious activity reporting, operational tax, anti–tax evasion strategy, and financial crime prevention training. Their goal: to help organizations mitigate regulatory risk, safeguard their reputations, and operate with full confidence.
Project deep dive
Client’s Challenges & Pain Points
Hartford Consulting’s clients include financial institutions acting as US Qualified Intermediaries (QIs). Every three years, these institutions are required to conduct an audit of their documentation, reporting, and compliance processes.
Previously, Hartford’s consultants relied on complex Excel spreadsheets to calculate the number of accounts to be sampled during each periodic review – a process that demanded significant time and manual effort.
The company wanted to replace this with a secure, intuitive web-based solution that would automate the calculations and offer clients a more affordable alternative to costly large-firm services. Recognizing STX Next’s proven expertise in the UK market and financial technology, Hartford chose us as their development partner to make this vision a reality.
Project Goals
Project Team
Project Manager
Software Engineer
Business Analyst
Product Designer
Tech Stack
The solution: IRS QI Periodic Review Safe Harbor Sample Calculator
STX Next built the IRS QI Periodic Review Safe Harbor Sample Calculator from the ground up to streamline Hartford’s audit process.
The application automates what was once an hours-long, spreadsheet-based task, reducing calculation time to mere seconds. The tool not only eliminates repetitive work but also ensures consistency and accuracy in sample selection.
The calculator uses the IRS Safe Harbor method to determine the appropriate QI account sample size for a periodic review. Users upload a full list of accounts that received U.S. income during the review year – categorized as U.S. direct, non-U.S. direct, indirect, and PTP accounts (including PTP values).
The system then applies the IRS-approved algorithm, uses a random number generator to select the required samples, and produces a downloadable report detailing the entire methodology for audit inclusion.
Import data from multiple sources (xlsx, csv, Google Sheets)
Calculate samples automatically using the IRS Safe Harbor algorithm
Visualize results for better understanding
Purchase and spend credits on calculations
Download reports in multiple file formats
Maintain a user account with calculation history
Manage users and payments through an admin dashboard
Manual work reduced from hours to seconds
Efficient and Cost-Effective Solution
In partnership with STX Next, Hartford Consulting successfully delivered a tool that significantly reduced manual workload while saving time and money for their clients. The IRS QI Periodic Review Safe Harbor Sample Calculator brought calculation time down from several hours to just a few seconds.
Software Delivery Excellence Approach
Beyond the tangible outcomes, the partnership between Hartford Consulting and STX Next stands out for its transparency, open communication, and shared commitment to excellence. Working together was not only productive but also genuinely enjoyable – a true example of how great collaboration leads to outstanding results.
On-Time, On-Budget Delivery
The project was delivered on time, within scope, and on budget – a testament to STX Next’s strong delivery standards and collaboration model.
Manual and outdated processes are limiting your team’s potential?
Hartford Consulting cut calculation time from hours to seconds. What could automation do for your business?
Whether you need a tailored web platform, a data-driven application, or an intelligent workflow tool, our team will help you deliver faster, smarter, and with confidence.
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