Contract Management – News, Views, and Analysis
In the federal segment, everyone seems to know someone who knows someone, but there are certainly some standout leaders who seem to make the world smaller. We reached out to several of those leaders to provide you with the following do's and don'ts of networking.
Government contracts teams support a broad array of both internal and external customers. It is critical for them to have the ability to provide accurate and timely data to support those customers' needs. They are the central resource for reporting on data requests based on contractual documents.
A contract management system can be a valuable tool, not just for the contracts team, but for the entire organization.
Compliance does not have to be complicated. For many in the government contracting world, the thought of a Contractor Purchasing System Review (CPSR) is a bit overwhelming. By taking proactive steps to prepare for such a review, you can alleviate a lot of undue stress for your contracts team, as well as the rest of the organization.
In 2016, DOD IG drove:
- 48 arrests
- 171 criminal charges
- 81 debarments
- $1.5 billion in settlements for the government
DCAA, GSA, and agency IGs and COs drove numerous other penalties and settlements.
Most firms have the goal of "increasing compliance," but the representative business case below should help shed some light on the true value of risk mitigation.
When it comes to making an investment decision in software and other tools, the C-level executives, especially the CFO, want to clearly understand return on investment (ROI). Demonstrating lost productivity by tracking hours spent on tasks that can easily be automated is a key step.
How mature is your contracts organization? Are you using paper files, spreadsheets, or a compliant contract management system fully integrated with your ERP and CRM?