The GovCon industry is serving a very cost-conscious customer. That’s caused contractors to minimize indirect costs to remain competitive. But leanly staffing the Contracts department creates compliance exposure, revenue write-downs, and enterprise risks. So most GovCon firms waver between losing business and a host of risks – that’s The Terrible Trade-off.
Compusearch Contract Management Blog
Please join us for this imperative 25-minute webinar on Thursday, June 28, 2016 at 1 PM: Escape GovCon’s Terrible Trade-Off. Don’t miss critical expert insights that can help you break free from the compliance worries and financial dilemmas that keep GovCon contracts, compliance, and finance professionals up at night.
Contracts professionals face demands that mere mortals could never hope to survive. As you kick off the New Year, here are some ways in which you can revitalize your approach and make the coming year not only easier but much less stressful:
1 – Put a plan in place. Having a process in place to address any and all potential issues can help you easily deflect those challenges when they arise. Make sure that you have identified the appropriate contacts for escalation and have a list of responsible parties for each area that touches the contracts realm.
2 – Leverage any little moment of downtime to load old data into online repositories. Paper is in the past, but when the auditors come a callin’, they want historical data…and they want it NOW.
3 – Collaborate with other departments. One of the biggest sources of errors is when systems don’t sync, and there are multiple data entry points. If you can integrate your existing systems, that would be ideal, but if not, at least make sure there is cross-departmental sharing of exact data that can be input the same way.
4 – Be prepared to support BD and your proposal team. Yes, your goal IS to create more work for yourself by winning more contracts! Make sure you have a central repository for all past performance data that is easily accessible and can be shared with your proposal teams on a moment’s notice.
5 – Watch as Roz tries to keep up with numerous demands for contract data and compliance information, doing a “data dive” while the executives wait for critical information…and then the Auditors come marching in… (Laughter is good for the soul!)
Indeed, leading government contractors have found that Compusearch’s SpectrumCLM® software enables them to escape The Terrible Trade-off by enabling both full compliance and low indirect rates.
As Mariah Knefely, Director Contracts, Risk & Business Management, Centerra Group explains, “The product is logical and addresses every contracting need. The ease of access to data coupled with the robust reporting tools has been a tremendous help for management reporting... The entire company has placed a unanimous vote of confidence in SpectrumCLM.”
“Program Managers and their Deputies, Configuration Managers, Data Managers, and PEO CIOs face a wide array of challenges as they strive to achieve their missions’ on-time and within budget. Compusearch delivers an integrated set of tools that make mission success possible. In a Six Sigma study conducted by Cargo Helicopters, Compusearch’s software reduced delays and improved processing time by over 80 percent.“
Click here for the full CIO Review article>
Compusearch wishes our valued clients, partners, and industry colleagues a safe and happy Thanksgiving.
Cargo Helicopters PMO needed help addressing three critical areas that were negatively impacting the organization.
- The PMO had no way to accurately monitor the distribution of contractor-prepared data.
- The procedures that were established to ascertain actual receipt of the data were not working.
- Their ability to ensure that all contractual requirements relative to technical data were not being met.
Topics: CDRL Management