Contract Management – News, Views, and Analysis

The Value of Risk Mitigation

Posted by SpectrumCLM Team on Jan 5, 2018 2:31:21 PM


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.

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Contract Management System ROI

Posted by SpectrumCLM Team on Jan 2, 2018 11:52:46 AM


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.
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How Mature is Your Contracts Organization?

Posted by SpectrumCLM Team on Dec 29, 2017 9:14:12 AM


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?

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A Day in the Life of a Contracts Manager

Posted by SpectrumCLM Team on Dec 28, 2017 11:36:35 AM

Contracts managers interact with quite a few stakeholders in the course of their day to day activities.  Contract management systems enable these individuals to work more productively with one another.  Below are some examples.   
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Comparison of Approaches to Contract Management

Posted by SpectrumCLM Team on Dec 27, 2017 9:25:21 AM

Generic contract software, ERP bolt-ons, and home grown contracting technologies have proven:
  • costly,
  • risky,
  • time consuming, and
  • lacking core requirements of government contracting.
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Must-Have Contract Management Software Capabilities

Posted by SpectrumCLM Team on Dec 26, 2017 11:54:53 AM

“Configuring” contract management software that wasn’t built for government contractors typically costs $200,000 to $500,000 in consulting fees and requires full-time attention from three to five contracting experts with software-design experience. What takes so long? A very few of the most costly phases and tasks…
  • With full consideration of related risks and requirements, identifying which of several dozen GovCon-specific, structured-data fields should be incorporated as “custom” fields
  • Determining the range of values that each structured data field can be assigned
  • Maintaining referential integrity among structured-data fields; that is, ensuring that one field’s value is constrained by and appropriately influences the values of dozens of others
Many of these systems never “go-live” and most are abandoned within the first few months of launch.  Even systems that do “go-live” almost always fail to address key requirements. Just one example: Lacking integrated FAR/DFARS/supplemental clause databases, the average GovCon firms spends $90,000 per year identifying contracts impacted by clause changes.  Below are some capabilities to consider when evaluating contract management software alternatives.
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Happy Thanksgiving!

Posted by Compusearch on Nov 22, 2017 11:56:06 AM

Happy Thanksgiving to our clients, partners, and industry colleagues.

 

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Happy Veterans Day 2017

Posted by Compusearch on Nov 10, 2017 1:28:40 PM

Compusearch extends a heartfelt appreciation to all U.S. Veterans past and present and we sincerely thank you for your service to our country.

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Compusearch Acquires FedBid, Bringing Together Two Industry Leaders in Federal Purchasing, Spend Management

Posted by Compusearch on Oct 4, 2017 9:51:39 AM

Compusearch® announced today the completion of the acquisition of reverse auction marketplace provider FedBid, Inc. FedBid will continue to operate under its own brand.

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Happy Labor Day 2017

Posted by Compusearch on Sep 1, 2017 3:16:48 PM

As summer moves toward a close, we wish you and your family a safe and joyful holiday weekend.

If you'd like to learn more about Labor Day, please peek at the summary below (courtesy of the Department of Labor).


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